Common use of Minimum Adjusted Net Income Clause in Contracts

Minimum Adjusted Net Income. Borrower and its Subsidiaries, on a consolidated basis, shall achieve Adjusted Net Income of at least (i) ($1,500,000) for the trailing three (3) month period ending on the last day of the fiscal quarter ending September 30, 2013; (ii) $1.00 for the trailing three (3) month period ending on the last day of the fiscal quarter ending December 31, 2013; (iii) $2,500,000 for the trailing six month period ending on the last day of the fiscal quarters ending March 31, 2014 and June 30, 2014, (iv) ($3,000,000) for the trailing three month period ending on the last day of the fiscal quarter ending September 30, 2014, (v) $1,000,000 for the trailing six month period ending on the last day of the fiscal quarter ending March 31, 2015, and (vi) $1,000,000 for the trailing six month period ending on (A) the last day of the fiscal quarter ending June 30, 2015, and (B) the last day of each fiscal quarter thereafter.”

Minimum Adjusted Net Income. Borrower and its Subsidiaries, on a consolidated basis, shall achieve Adjusted Net Income of at least (i) ($1,500,000) for the trailing three (3) month period ending on the last day of the fiscal quarter ending September 30, 2013; (ii) $1.00 for the trailing three (3) month period ending on the last day of the fiscal quarter ending December 31, 2013; (iii) $2,500,000 for the trailing six month period ending on the last day of the fiscal quarters ending March 31, 2014 and June 30, 2014, (iv) ($3,000,000) for the trailing three month period ending on the last day of the fiscal quarter ending September 30, 2014, (v) $1.00 for the trailing six month period ending on the last day of the fiscal quarter ending December 31, 2014, (vi) $1,000,000 for the trailing six month period ending on the last day of the fiscal quarter ending March 31, 2015, and (vivii) $1,000,000 for the trailing six month period ending on (A) the last day of the fiscal quarter ending June 30, 2015, and (B) the last day of each fiscal quarter thereafter.”

Minimum Adjusted Net Income. Borrower and its Subsidiaries, on a consolidated basis, shall achieve Adjusted Net Income of at least (i) ($1,500,000) 3,000,000 for the trailing three six (36) month period ending on the last day of the fiscal quarter ending September 30March 31, 20132011; (ii) $1.00 5,000,000 for the trailing three (3) month period ending on the last day of the fiscal quarter ending December 31, 2013; (iii) $2,500,000 for the each trailing six (6) month period ending on the last day of the fiscal quarters ending March 31, 2014 and June 30, 20142011 and September 30, 2011; (iviii) ($3,000,0003,000,000.00) for the trailing three month period ending on the last day of the fiscal quarter ending September 30, 2014, (v) $1,000,000 for the trailing six month period ending on the last day of the fiscal quarter ending March December 31, 2015, 2011; and (viiv) $1,000,000 7,500,000 for the trailing six (6) month period ending on (A) the last day of the fiscal quarter ending June 30March 31, 2015, 2012 and for each trailing six (B6) month period ending on the last day of each fiscal quarter thereafter.”” and inserting in lieu thereof the following:

Minimum Adjusted Net Income. Borrower and its Subsidiaries, on a consolidated basis, shall achieve Adjusted Net Income of at least (i) ($1,500,000) for the trailing three (3) month period ending on the last day of the fiscal quarter ending September 30, 2013; (ii) $1.00 for the trailing three (3) month period ending on the last day of the fiscal quarter ending December 31, 2013; (iii) $2,500,000 3,000,000 for the trailing six month period ending on the last day of the fiscal quarters ending March 31, 2014 and June 30, 2014, (iv6) ($3,000,000) for the trailing three month period ending on the last day of the fiscal quarter ending September 30, 2014, (v) $1,000,000 for the trailing six month period ending on the last day of the fiscal quarter ending March 31, 20152011; (ii) $5,000,000 for each trailing six (6) month period ending on the last day of the fiscal quarters ending June 30, 2011, September 30, 2011 and December 31, 2011; and (viiii) $1,000,000 7,500,000 for the trailing six (6) month period ending on (A) the last day of the fiscal quarter ending June 30March 31, 2015, 2012 and for each trailing six (B6) month period ending on the last day of each fiscal quarter thereafter.”” and inserting in lieu thereof the following:

Minimum Adjusted Net Income. Borrower and its Subsidiaries, on a consolidated basis, shall achieve Adjusted Net Income of at least (i) ($1,500,000) for the trailing three (3) month period ending on the last day of the fiscal quarter ending September 30, 2013; (ii) $1.00 for the trailing three (3) month period ending on the last day of the fiscal quarter ending December 31, 2013; (iii) $2,500,000 3,000,000 for the trailing six month period ending on the last day of the fiscal quarters ending March 31, 2014 and June 30, 2014, (iv6) ($3,000,000) for the trailing three month period ending on the last day of the fiscal quarter ending September 30, 2014, (v) $1,000,000 for the trailing six month period ending on the last day of the fiscal quarter ending March 31, 20152011; (ii) $5,000,000 for each trailing six (6) month period ending on the last day of the fiscal quarters ending June 30, 2011, September 30, 2011 and December 31, 2011; and (viiii) $1,000,000 7,500,000 for the trailing six (6) month period ending on (A) the last day of the fiscal quarter ending June 30March 31, 2015, 2012 and for each trailing six (B6) month period ending on the last day of each fiscal quarter thereafter.”