Financial Covenant - Minimum Annual Recurring Revenue Sample Clauses

Financial Covenant - Minimum Annual Recurring Revenue. Upon the occurrence of the Testing Event and at all times thereafter (regardless of the outstanding balance of Advances), achieve as of the last day of each month set forth below (for such periods after the occurrence of the Testing Event), computed with respect to Borrower only, and not on a consolidated basis, minimum Annual Recurring Revenue, determined in accordance with GAAP, in an amount not less than the following: Month ending Annual Recurring Revenue September 30, 2017 $54,032,000.00 October 31, 2017 $54,032,000.00 November 30, 2017 $54,032,000.00 December 31, 2017 $70,334,000.00 January 31, 2018 $70,334,000.00 February 28, 2018 $70,334,000.00 March 31, 2018 $73,811,000.00 April 30, 2018 $73,811,000.00 May 31, 2018 $73,811,000.00 June 30, 2018 $86,574,000.00 July 31,2018 $86,574,000.00 August 31, 2018 $86,574,000.00 September 30, 2018 $90,662,000.00 October 31, 2018 $90,662,000.00 November 30, 2018 $90,662,000.00 December 31, 2018 $103,459,000.00 January 31, 2019 $103,459,000.00 February 28, 2019 $103,459,000.00 With respect to the period ending January 31, 2019 and each period thereafter, the levels of minimum Annual Recurring Revenue shall be mutually agreed upon between Borrower and Bank (which levels shall be negotiated in good faith), based upon Borrower’s Board-approved operating plan and financial projections reasonably acceptable to Bank. Failure of (i) Borrower and Bank to mutually agree in writing (which agreement shall be set forth in a written amendment to this Agreement) on or before February 28, 2019, to any such covenant levels with respect to calendar year ending December 31, 2019, or (ii) Borrower to deliver to Bank, pursuant to Section 6.2(e), Borrower’s budgets, sales projections, operating plans and other financial information of Borrower that Bank reasonably deems relevant, including, without limitation, Borrower’s Board-approved operating budgets, projections and plans, with respect to the calendar year ending December 31, 2019, shall result in an immediate Event of Default for which there shall be no grace or cure period.
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Financial Covenant - Minimum Annual Recurring Revenue. The introductory paragraph of Section 6.9 is amended in its entirety and replaced with the following:
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Financial Covenant - Minimum Annual Recurring Revenue. Upon the occurrence of the Testing Event and at all times thereafter (regardless of the outstanding balance of Advances), achieve as of the last day of each month set forth below (for such periods after the occurrence of the Testing Event), computed with respect to Health Catalyst only, and not on a consolidated basis, minimum Annual Recurring Revenue, determined in accordance with GAAP, in an amount not less than the following:” • Section 6.12(b) (Online Banking). Section 6.12(b) is deleted in its entirety and replaced with the following:
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Related to Financial Covenant - Minimum Annual Recurring Revenue

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • Minimum Consolidated Adjusted EBITDA The Borrowers will maintain, as of the last day of each Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2009, Consolidated Adjusted EBITDA for the four Fiscal Quarters then ended of not less than $22,500,000.

  • Minimum Adjusted EBITDA As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Adjusted EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): Applicable Amount Applicable Period $(1,234,000) For the 3 month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Minimum Consolidated Fixed Charge Coverage Ratio Borrower shall not permit the Consolidated Fixed Charge Coverage Ratio, determined as at the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2019, to be less than 1.00 to 1.00.

  • Specific Financial Covenants During the term of this Agreement, and thereafter for so long as there are any Obligations to Lender, Borrower covenants that, unless otherwise consented to by Lender in writing, it shall:

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

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