Maximum EBITDA Loss/Minimum EBITDA Sample Clauses
The Maximum EBITDA Loss/Minimum EBITDA clause sets a financial threshold that limits the allowable loss or establishes a minimum earnings level before interest, taxes, depreciation, and amortization (EBITDA) for a business. In practice, this clause is often used in loan agreements or acquisition contracts to ensure that the company maintains a certain level of profitability or does not exceed a specified loss during a defined period. By setting these financial benchmarks, the clause helps protect lenders or investors by providing an early warning mechanism if the company's financial performance deteriorates beyond acceptable limits, thereby allowing for remedial actions or triggering specific contractual rights.
Maximum EBITDA Loss/Minimum EBITDA. Measured monthly and calculated (i) on a one-month basis for the reporting period ending November 30, 2013 and (ii) on a rolling-two-months basis for the reporting period ending December 31, 2013, Borrowers’ consolidated EBITDA loss shall not exceed the amounts set forth in the table immediately below for the corresponding reporting periods. November 30, 2013 ($ 1,000,000 ) December 31, 2013 ($ 2,200,000 ) EBITDA levels for subsequent reporting periods will be set by Bank based upon the board approved, fully-funded operating plan to be provided by Borrowers pursuant to Section 6.2(viii).
Maximum EBITDA Loss/Minimum EBITDA. Measured monthly and calculated (i) on a one-month basis for the reporting period ending February 28, 2013, (ii) on a rolling-two-months basis for the reporting period ending March 31, 2013, and (iii) on a rolling-three-months basis for all subsequent reporting periods, Borrowers’ consolidated EBITDA loss shall not exceed the amounts set forth in the table immediately below for the corresponding reporting periods. February 28, 2013 ($ 725,437 ) March 31, 2013 ($ 1,274,026 ) April 30, 2013 ($ 1,736,064 ) May 31, 2013 ($ 1,451,787 ) June 30, 2013 ($ 1,364,802 ) July 31, 2013 ($ 1,329,576 ) August 31, 2013 ($ 1,208,799 ) September 30, 2013 ($ 1,136,190 ) October 31, 2013 ($ 1,038,915 ) November 30, 2013 ($ 988,943 ) December 31, 2013 ($ 907,671 ) EBITDA levels for subsequent reporting periods will be set by Bank based upon the board approved, fully-funded operating plan to be provided by Borrowers pursuant to Section 6.2(viii).
6) Section 7.12 of the Agreement is hereby amended and restated, as follows:
Maximum EBITDA Loss/Minimum EBITDA. Measured monthly and calculated on: (i) a trailing 1-month basis for the reporting period ending January 31, 2014, (ii) a trailing 2-month for the reporting period ending February 28, 2014, and (iii) a trailing three-months basis for all reporting periods thereafter, Borrowers’ consolidated EBITDA loss shall not exceed the amounts set forth in the table immediately below for the corresponding reporting periods. January 31, 2014 ($ 2,317,000 ) February 28, 2014 ($ 4,149,000 ) March 31, 2014 ($ 6,407,000 ) April 30, 2014 ($ 6,231,000 ) May 31, 2014 ($ 6,671,000 ) June 30, 2014 ($ 6,908,000 ) July 31, 2014 ($ 6,679,000 ) August 31, 2014 ($ 6,421,000 ) September 30, 2014 ($ 5,525,000 ) October 31, 2014 ($ 5,340,000 ) November 30, 2014 ($ 4,650,000 ) December 31, 2014 ($ 4,389,000 ) EBITDA levels for subsequent reporting periods will be set by Bank based upon the board approved, fully-funded operating plan to be provided by Borrowers pursuant to Section 6.2(viii).
4) Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Each Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection with the Agreement.
5) Each Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date of this Amendment.
6) This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.
7) As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:
a) this Amendment, duly executed by each Borrower;
b) payment of all Bank Expenses, including Bank’s expenses for the documentation of this amendment and any related documents, and any UCC, good standing or intellectual property search or filing fees, which may be debited from any of Borrowers’ accounts; and
c) such other documents and completion of such other matters, as Bank may ...
Maximum EBITDA Loss/Minimum EBITDA. Measured on a monthly basis, (i) Borrowers’ trailing three-month EBITDA loss shall not exceed (A) $350,000 for the three month period ending March 31, 2017 or (B) $80,000 for each of the three month periods ending April 30, 2017 through July 31, 2017; and (ii) beginning with the three month period ending August 31, 2017, Borrower’s minimum trailing three-month EBITDA shall be at least $200,000