Common use of Minimum Adjusted EBITDA Clause in Contracts

Minimum Adjusted EBITDA. Borrower shall maintain a minimum trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of such test date, of at least the greater of (a) $75,000,000 and (b) an amount equal to 75% of the trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), for the immediately preceding six-month period, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 30.

Minimum Adjusted EBITDA. Borrower shall maintain at least a minimum trailing six-six month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of such test date, of at least the greater of (a) $75,000,000 and (b) an amount equal to 75% of the trailing six-month Adjusted EBITDA minus dividend distributions (other or greater than tax distributions), for the immediately preceding six-month period$12,500,000, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 30.

Minimum Adjusted EBITDA. Borrower shall shall, as at each March 31 and September 30 (each a “test date”) maintain at least a minimum trailing six-six month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of at such test date, of at least equal to the greater of (a) $75,000,000 40,000,000 and (b) an amount equal to 7580% of the trailing six-six month Adjusted EBITDA minus dividend distributions (other than tax distributions), for the immediately preceding six-six month period, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 302020.