Financial Performance Clause Samples
The Financial Performance clause sets out the expectations and requirements regarding the financial results or metrics that a party must achieve under an agreement. Typically, this clause may specify targets such as revenue, profit margins, or cost savings, and can require regular reporting or audits to verify compliance. Its core practical function is to ensure accountability and transparency in financial outcomes, providing a clear standard for evaluating whether contractual obligations are being met.
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Financial Performance. No change in the financial condition or operations of any Initial Credit Party, shall have occurred since the date of the Last Audited Financial Statements which could reasonably be expected to have a Material Adverse Effect, as determined by the Purchasers in their reasonable discretion.
Financial Performance. The financial performance standards shall include at a minimum indicators, measures, and metrics that:
i. Enable the State Board to monitor and evaluate the charter school’s financial stability and viability based on short-term performance, and
ii. Enable the State Board to monitor and evaluate the charter school’s long-term financial sustainability.
Financial Performance. On Amplitel’s request, the Supplier must provide records and information requested by Amplitel, in relation to the Supplier’s financial position. The Supplier is not required to disclose any information that relates to the Supplier’s profit margins or its other customers or that, if disclosed, would result in the Supplier being in breach of its confidentiality obligations to any person.
Financial Performance. 7.1.1 No other financial performance covenants are imposed at this time unless provided elsewhere herein or in other Loan Documents.
Financial Performance. The IAs shall develop consolidated financial accounts for the operation and management of the Subprojects. These financial accounts shall include statements of profit and loss, cash flow (or sources and uses of funds) and a balance sheet representing the operational activities of the Subprojects, reflecting the current account of the agencies related to the operation and management of the Subprojects.
Financial Performance. Improvements in productivity are focused on efficient use of resources (human, financial, assets, etc.) that are required to deliver services to patients. Metrics on productivity, namely the center’s operating margin, will be reported quarterly so employees can know if they are on target to meet gain sharing objectives. Employees can contribute to improved financial performance by working efficiently, producing quality and accurate work, through teamwork, and by identifying opportunities to improve processes.
Financial Performance. Fail to reflect in any balance sheet, --------------------- statement, report, accounting or analysis provided to the Bank under sections 6.6.1 or 6.6.2 hereof a minimum of $100,000 in profits on a quarterly basis (pre-tax and calculated in accordance with generally accepted accounting methods) or a minimum of $750,000 in profits for each fiscal year (pre-tax and before reduction for any accelerated write-downs of the value of the Collateral, or extraordinary reduction, relating to amortization of existing video cassette inventory, calculated in accordance with generally accepted accounting methods).
Financial Performance. Exceed fiscal 2001 budgeted key financial targets, including budgeted end of year cash, currently projected to be approximately $45-50MM, (please note, final budgets have not yet been submitted and there is specific weakness in most recent DPI numbers) other than for strategic expenditures (i.e., repurchase of debt) or other actions endorsed by the Board.
Financial Performance. The Borrower will maintain the following financial covenants:
A. During the term of the Loan, the Borrower shall maintain a minimum Global Debt Service Coverage Ratio – Annual Operations for Wilmington and St. Petersburg (“GDSCR”) of 1.25 to 1.0, to be computed and tested annually commencing as of December 31, 2024 and based on the audited financial statements required to be submitted. If the Borrower fails to meet the GDSCR covenant, it will have a period of thirty (30) days to cure same by providing the Bank with cash collateral into a Debt Service Reserve account at the Bank in an amount equal to the shortfall in annual global net operating income and the net operating income necessary to achieve the required GDSCR for such annual period. The cash collateral shall remain on deposit with the Bank until the required DSCR has been met at the time of the next annual test, at which time any cash collateral remaining in the account will be returned to the Borrower.
B. The Borrower will maintain the Bank as its primary depository bank for the Hotel and will open and maintain at the Bank a Mortgaged Premises operating account, and capital expenditure or other reserve, escrow and real estate tax accounts associated with the Mortgaged Premises and the Hotel.
C. The Guarantor shall maintain a minimum Net Worth (defined as total assets minus total liabilities, both as determined in accordance with GAAP) of $25,000,000 and evidence minimum liquidity of $750,000 at all times, as evidenced by the annual the annual 10-K financial statements of the Guarantor.
D. The Borrower shall escrow for real estate taxes by depositing in an escrow account at the Bank one-twelfth (1/12) of the estimated annual real estate taxes on each Payment Date.
E. The Borrower shall escrow an amount equal to 4% of gross income in a FF&E reserve account at the Bank on each Payment Date. The 4% reserve shall be calculated based on the actual gross income generated at the Hotel over the previous calendar year. The Bank shall allow Borrower to transfer such amounts required by Borrower from time to time to B▇▇▇▇▇▇▇’s operating account, provided that the Borrower provides reasonable evidence to Bank for FF & E improvement costs to the Hotel, if requested by Bank in writing.
F. The Borrower will not incur any additional debt or permit any junior liens on the Collateral, except as set forth herein without prior written approval of the Bank.
G. Until the Loan shall have been paid in full, the Borrower ...
Financial Performance. The Parties agree to monitor the performance of the Payment Protection Products provided under this agreement in each Territory in accordance with the procedures set out in Schedule 4.