Minimum Consolidated Adjusted EBITDA. At any time, permit Borrower’s Consolidated Adjusted EBITDA for the fiscal quarter ending on (i) September 30, 2015 to be less than $150,000 for such fiscal quarter; (ii) December 31, 2015 to be less than $500,000 for such fiscal quarter; (iii) March 31, 2016 to be less than $950,000 for such fiscal quarter; and (iv) June 30, 2016 to be less than $1,050,000 for such fiscal quarter.
Minimum Consolidated Adjusted EBITDA. Permit Consolidated Adjusted EBITDA of the Company and its Subsidiaries for any period set forth in the table below to be less than the amount set forth opposite such period: Period Minimum Consolidated Adjusted EBITDA January 1, 2013 to March 31, 2013 $34,908,000 January 1, 2013 to April 30, 2013 $47,032,000 January 1, 2013 to May 31, 2013 $64,743,000 January 1, 2013 to June 30, 2013 $93,451,000 January 1, 2013 to July 31, 2013 $115,809,000 January 1, 2013 to August 31, 2013 $136,926,000 January 1, 2013 to September 30, 2013 $171,476,000 ;provided, however, that if (i) the sale of assets of the Company assigned the code name “Rockford” is consummated during any such period or (ii) the sale of assets of the Company assigned the code name “Xxxxxx” is consummated during any such period, the financial covenant levels set forth in the table above will be adjusted for each period ending after the date of consummation of such sale in accordance with the principles and examples set forth on Schedule 5.03(a).
Minimum Consolidated Adjusted EBITDA. Holdings shall not permit Consolidated Adjusted EBITDA as at the end of any Fiscal Quarter, beginning with the Fiscal Quarter ending December 31, 2008, for the four Fiscal Quarter period then ended to be less than the correlative amount indicated: December 31, 2008 $ 33,000,000 March 31, 2009 $ 36,000,000 June 30, 2009 $ 38,000,000 September 30, 2009 $ 47,000,000 December 31, 2009 $ 55,000,000 March 31, 2010 $ 70,000,000 June 30, 2010 $ 80,000,000 September 30, 2010 $ 85,000,000 December 31, 2010 $ 90,000,000 March 31, 2011 $ 95,000,000 June 30, 2011 $ 100,000,000 September 30, 2011 $ 100,000,000 December 31, 2011 $ 100,000,000 March 31, 2012 $ 100,000,000 June 30, 2012 $ 100,000,000 September 30, 2012 $ 100,000,000 December 31, 2012 $ 100,000,000 March 31, 2013 $ 100,000,000 June 30, 2013 $ 100,000,000 September 30, 2013 $ 100,000,000 December 31, 2013 $ 100,000,000 March 31, 2014 $ 100,000,000 June 30, 2014 $ 100,000,000 September 30, 2014 $ 100,000,000 December 31, 2015 $ 100,000,000 March 31, 2015 $ 100,000,000 June 30, 2015 $ 100,000,000 September 30, 2015 $ 100,000,000
Minimum Consolidated Adjusted EBITDA. Company shall not permit Consolidated Adjusted EBITDA for any four-Fiscal Quarter period ending as of the last day of any Fiscal Quarter occurring during any of the periods set forth below to be less than the correlative amount indicated: MINIMUM CONSOLIDATED PERIOD ADJUSTED EBITDA 1st Fiscal Quarter, 1998 $67,500,000 2nd Fiscal Quarter, 1998 $68,000,000 3rd Fiscal Quarter, 1998 $72,000,000 4th Fiscal Quarter, 1998 $73,500,000 1st Fiscal Quarter, 1999 $74,000,000 2nd Fiscal Quarter, 1999 $75,000,000 3rd Fiscal Quarter, 1999 $75,000,000 4th Fiscal Quarter, 1999 $75,000,000 1st Fiscal Quarter, 2000 $80,000,000 2nd Fiscal Quarter, 2000 $80,000,000 3rd Fiscal Quarter, 2000 $80,000,000 4th Fiscal Quarter, 2000 $80,000,000 134 MINIMUM CONSOLIDATED PERIOD ADJUSTED EBITDA 1st Fiscal Quarter, 2001 $80,000,000 2nd Fiscal Quarter, 2001 $80,000,000 3rd Fiscal Quarter, 2001 $80,000,000 4th Fiscal Quarter, 2001 $80,000,000 1st Fiscal Quarter, 2002 $80,000,000 2nd Fiscal Quarter, 2002 $80,000,000 3rd Fiscal Quarter, 2002 $80,000,000 4th Fiscal Quarter, 2002 $80,000,000 1st Fiscal Quarter, 2003 $80,000,000 2nd Fiscal Quarter, 2003 $80,000,000
Minimum Consolidated Adjusted EBITDA. Permit the Consolidated Adjusted EBITDA for each fiscal quarter of the Parent ending on the last day of each fiscal quarter set forth below to be less than the corresponding amount set forth below: December 31, 2013 $ (3,000,000 ) March 31, 2014 $ (6,000,000 ) June 30, 2014 $ (2,750,000 ) September 30, 2014 $ (2,250,000 ) December 31, 2014 $ (2,750,000 ) March 31, 2015 $ (3,250,000 ) June 30, 2015 $ (1,000,000 ) September 30, 2015 $ (250,000 ) December 31, 2015 $ (150,000 ) March 31, 2016 and each fiscal quarter ending thereafter $ (750,000 )
(g) Section 7.12(f) of the Credit Agreement is hereby amended to read as follows:
Minimum Consolidated Adjusted EBITDA. Neither Borrower nor any Guarantor shall permit the minimum Consolidated Adjusted EBITDA, determined on a Six Month Measurement Period basis, at any time during any of the periods described in the table attached hereto as Schedule 9.18 to be less than the amount set forth opposite such period on such Schedule 9.18;
Minimum Consolidated Adjusted EBITDA. The Credit Parties shall not permit Consolidated Adjusted EBITDA for the four quarter periods ending on the dates set forth below to be less than the correlative amount indicated: Minimum Consolidated Date Adjusted EBITDA February 28, 1997 $ 7,000,000 May 31, 1997 $ 6,500,000 August 31, 1997 $ 7,500,000 November 30, 1997 $ 7,250,000 February 28, 1998 $ 8,500,000 May 31, 1998 $ 9,500,000 August 31, 1998 $ 9,500,000
Minimum Consolidated Adjusted EBITDA. Permit Consolidated Adjusted EBITDA to be less than $50,000,000, at the end of any fiscal quarter, as determined on a rolling four fiscal quarters basis, provided that this covenant shall only be tested during such period when Consolidated Total Indebtedness is less than $200,000,000.
Minimum Consolidated Adjusted EBITDA. Permit Consolidated Adjusted EBITDA, on a trailing twelve month basis as of the last day of any fiscal quarter specified below, to be no less than the correlative amount specified below: Promptly after the receipt by the Administrative Agent of the Projections required to be delivered within 60 days after the fiscal year ending December 31, 2017 pursuant to Section 6.2(c), the Lenders agree to review such Projections for the purpose of re-setting the Minimum Consolidated Adjusted EBITDA covenant for the periods tested in fiscal years 2018 and 2019 set forth in this Section 7.1(a); provided that (i) any such updated covenant levels must be agreed to in writing (which agreement in writing may be evidenced via e-mail) by the Required Lenders after consultation with the Borrower, based on their commercially reasonable business judgment exercised in good faith, and until any such determination, the covenant levels shall remain unchanged, (ii) upon determination of any updated covenant levels by the Required Lenders and notice thereof by the Administrative Agent to the Borrower, and notwithstanding any provision herein to the contrary, including, without limitation, Section 10.1, this Agreement shall automatically be amended to give effect to such updated covenant levels, (iii) without limiting clause (ii), the Borrower hereby agrees to enter into at the request of the Administrative Agent and at the sole cost of the Borrower, any amendments to this Agreement and the other Loan Documents or furnish any acknowledgements of such updated covenant levels, in each case, that the Administrative Agent reasonably requests to evidence any amendment to this Agreement required pursuant to this paragraph, and (iv) notwithstanding any provision to the contrary herein, in the event that the Borrower objects to any updated covenant levels determined by the Required Lenders pursuant to clause (i) of this paragraph or otherwise fails to comply with provisions of clause (iii) of this paragraph, at the option of the Required Lenders, the Total Revolving Commitments shall terminate and the Obligations shall immediately become due.”
Minimum Consolidated Adjusted EBITDA. Commencing on July 31April 30, 20222023, maintain at all times Consolidated Adjusted EBITDA, tested at the end of each calendar month based upon the immediately preceding Applicable Fiscal Period, of at least the amount set forth below for such calendar month end: July 31, 2022 – SeptemberApril 30, 20222023 – June 30, 2023 $1,000,000 OctoberJuly 31, 2022 – December 31, 20222023 – September 30,2023 $1,500,000 JanuaryOctober 31, 2023 – MarchDecember 31, 2023 $2,000,000 April 30January 31, 20232024 $2,500,000 May 31, 2023February 29, 2024 and the last day of each calendar month thereafter $3,000,000
