Maximum Net Loss Clause Samples
The Maximum Net Loss clause sets a cap on the total financial loss that one party can be held responsible for under a contract. In practice, this means that regardless of the actual damages or liabilities incurred, the responsible party's exposure is limited to a predetermined maximum amount. For example, if a contractor causes damages exceeding the cap, they would only be liable up to the agreed limit. This clause's core function is to allocate and limit risk, providing certainty and protecting parties from potentially catastrophic financial exposure.
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Maximum Net Loss. (a) Not incur a net loss in excess of $3,000,000 for any fiscal quarter and (b) commencing with the fiscal quarter ended 11/30/04, not incur a net loss as of the end of each fiscal quarter for the rolling two fiscal quarters then ended.
Maximum Net Loss. No Borrower shall, as of the last day of any twelve calendar month period, permit its Net Asset Value (after giving effect to adjustments for any redemptions or subscriptions made during such period) to decrease by more than 15% of such Borrower’s Net Asset Value as of the day immediately preceding the first day of such twelve calendar month period.
Maximum Net Loss. Pursuant to Section 6.2(c) of the Credit Agreement, the Borrower's Net Income (Net Loss) for the month ending on the Reporting Date was $____________, which satisfies does not satisfy the requirement that such amount be not less than -$75,000, commencing with the month ending July 31, 2002.
Maximum Net Loss. For any fiscal quarter of Borrower, Borrower shall not incur a net loss of more than one hundred twenty percent (120%) of the projected amount of net loss for such period as set forth in Borrower’s financial projections, delivered to Bank on March 7, 2005 and attached hereto as Exhibit E.
Maximum Net Loss. The Borrower shall not, as of the last day of each calendar month, permit the Net Loss for the twelve calendar months then ended to exceed $15,000,000.
Maximum Net Loss. The Borrower shall not have a Net Loss in excess of $75,000 as at the end of any month, commencing with the month ending July 31, 2002.
Maximum Net Loss. Borrowers covenant that they will achieve as of the last day of each fiscal quarter consolidated net (loss) before tax for the respective periods set forth below, as follows (i) in respect of the fiscal quarter ending March 31, 2009, not greater than ($15,000,000); (ii) in respect of the fiscal quarter ending June 30, 2009, not greater than ($10,000,000); (iii) in respect of the fiscal quarter ending September 30, 2009, not greater than ($10,000,000); and (Iv) in respect of the fiscal quarter ending December 31, 2009, not greater than ($10,000,000).
Maximum Net Loss. Borrower shall have maximum quarterly net loss as follows:
(i) ($5,000,000.00) for the quarter ending December 31, 2004;
(ii) ($4,000,000.00) for the quarter ending March 31, 2005;
(iii) ($3,000,000.00) for the quarter ending June 30, 2005; and
(iv) ($2,000,000.00) for the quarter ending September 30, 2005.
Maximum Net Loss. The Borrower shall not permit the EBITDA Loss to be greater than the following amount for the following periods: Period Amount ------ ------ Fiscal quarter $22,000,000 ended 12/31/2000 Fiscal quarter $20,000,000 ended 3/31/2001 Fiscal quarter $18,000,000 ended 6/30/2001 Fiscal quarter $15,000,000 ended 9/30/2001 Fiscal quarter $7,500,000 ended 12/31/2001 Fiscal quarter $5,000,000 ended 3/31/2002 Fiscal quarter $2,500,000 ended 6/30/2002
Maximum Net Loss. Not incur a net loss, except as specifically permitted, as at the end of any fiscal quarter as follows: (i) for the rolling three fiscal quarters ended 11/30/09 no cumulative net loss in excess of $1,000,000 nor more than an individual net loss in excess of $1,250,000 in the fiscal quarter ended 5/31/09, an individual net loss in excess of $1,000,000 for the fiscal quarter ended 8/31/09 and an individual net loss in excess of $750,000 for the fiscal quarter ended 11/30/09, (ii) for the fiscal quarter ended 2/28/10 and for each fiscal quarter thereafter, no cumulative net loss for the rolling four fiscal quarters then ended. For the purpose of the aforesaid calculation of net loss, non cash charges related to intangible assets, including without limitation, good will impairment, which are not amortized on a ratable basis, or otherwise in accordance with GAAP, will be excluded and not subtracted from gross income in determining net loss.”
(F) Section 7.1 (vi) of the Credit Agreement is hereby amended by deleting same and substituting the following therefor: