Minimum Cumulative Revenue Sample Clauses

Minimum Cumulative Revenue. Measured monthly and calculated on a cumulative basis with the measuring period beginning on July 1, 2017, Borrower shall achieve Revenue of at least the amounts shown in the table immediately below for the corresponding reporting periods. For subsequent reporting periods, Bank and Borrower hereby agree that, on or before January 30th of each year during the term of this Agreement, Borrower shall provide Bank with a budget for such year, which shall be approved by Borrower’s Board of Directors, and Bank shall use that budget to establish the minimum Revenue amounts (and calculation thereof) for such year, in good faith consultation with Borrower, with such amounts being incorporated herein by an amendment, which Borrower hereby agrees to execute. No course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank.”
Sample 1
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Minimum Cumulative Revenue. Cumulative Revenue, meaning Gross Revenue as determined in accord with GAAP, prior to agent commissions and sales rep commission, dating from February 28, 2002 of not less than the following: a. $2,500,000 as of February 28, 2002; and b. $5,900,000 as of May 31, 2002; and c. $9,300,000 as of August 31, 2002; and d. $13,400,000 as of November 30, 2002." Upon execution of this Amendment, Borrowers will pay Administrative Agent an Amendment Fee in the amount of $200,000, which fee shall be fully earned and non-refundable as of the date hereof and shall be payable in full upon the earlier to occur of (1) the closing date of Borrowers' next corporate development or financing transaction, including, without limitation, any increase or restructure of the Credit Facility, any merger or acquisition or any issuance of equity (other than pursuant to a stock option plan), or (2) November 30, 2002. If an event contemplated in clause number (1) above does not occur on or prior to November 30, 2002, Borrowers agree that a principal payment equal to 25% of Excess Cash Flow (i.e., Operating Cash Flow minus Total Charges) for the trailing twelve-month period ending November 30, 2002 (such principal payment not to exceed the amount of the Amendment Fee) shall be paid on or before December 15, 2002 in immediately available funds and applied to the Amendment Fee, with the balance of such Amendment Fee, if any, being thereupon financed through an additional advance of principal under the Term Loan Facility. Upon execution of this Amendment, Borrowers also will pay a Documentation Fee in immediately available funds to Administrative Agent in the amount of $1500 to cover all fees, costs and expenses in connection with the preparation and execution of this Amendment. Except as expressly stated herein, all other terms of the Loan Documents remain in full force and effect and unchanged. This Amendment will not obligate Administrative Agent or Lenders to otherwise consent to any actions or inactions in the future or to amend any Loan Document in any manner at any time in the future or to waive compliance (temporarily or otherwise) with any provision of any Loan Document. This Amendment may be executed in counterparts and delivered by facsimile, and each such counterpart and facsimile shall be considered an effective original. NBG Radio Network, Inc. February 28, 2002 Page 4
Sample 1
Minimum Cumulative Revenue. As at the last day of any Fiscal Quarter, the Borrower shall not permit its cumulative Net Revenue for the period commencing on January 1, 2000 and ending on the dates set forth below to be less than the amounts set forth below: ================================================= Date Minimum Cumulative Revenue From January 1, 2000 (in Dollars) ------------------------------------------------- June 30, 2000 2,134,000 ------------------------------------------------- September 30, 2000 8,088,100 ------------------------------------------------- December 31, 2000 16,919,700 ------------------------------------------------- March 31, 2001 25,158,500 ------------------------------------------------- June 30, 2001 35,108,500 ------------------------------------------------- September 30, 2001 46,435,700 =================================================
Sample 1
Minimum Cumulative Revenue. Measured quarterly and calculated on a cumulative basis with the measuring period beginning January 1, 2020, Borrowers shall achieve Revenue of at least the amounts shown in the table immediately below for the corresponding reporting periods. June 30, 2020 $138,000,000 September 30, 2020 $188,000,000 December 31, 2020 $238,000,000 For subsequent reporting periods, Bank and Borrowers hereby agree that, on or before January 30th of each year during the term of this Agreement, Borrowers shall provide Bank with a budget for such year, which shall be approved by Parent’s Board of Directors, and Bank shall use that budget to establish the minimum Revenue amounts (and calculation thereof) for such year, in good faith consultation with Borrowers, with such amounts being incorporated herein by an amendment, which each Borrower hereby agrees to execute. No course of dealing on the part of Bank or its officers, nor any failure or delay in the exercise of any right by Bank, shall operate as a waiver thereof, and any single or partial exercise of any such right shall not preclude any later exercise of any such right. Bank’s failure at any time to require strict performance by any Borrower of any provision shall not affect any right of Bank thereafter to demand strict compliance and performance. Any suspension or waiver of a right must be in writing signed by an officer of Bank.
Sample 1
Minimum Cumulative Revenue. Cumulative Revenue, meaning Gross Revenue as determined in accord with GAAP, prior to agent commissions and sales rep commission, dating from December 1, 2001 of not less than the following: a. $9,248,000 as of August 31, 2002; and b. $12,800,000 as of November 30, 2002." Upon execution of this Waiver and Amendment, Borrowers will pay in immediately available funds to Administrative Agent a Documentation Fee in the amount of $500 to cover all fees, costs and expenses in connection with the preparation and execution of this Waiver and Amendment. Except as expressly stated herein, all other terms of the Loan Documents remain in full force and effect and unchanged. This Waiver and Amendment will not obligate Administrative Agent or Lenders to otherwise consent to any actions or inactions in the future or to amend any Loan Document in any manner at any time in the future or to waive compliance (temporarily or otherwise) with any provision of any Loan Document. This Waiver and Amendment may be executed in counterparts and delivered by facsimile, and each such counterpart and facsimile shall be considered an effective original.
Sample 1

Related to Minimum Cumulative Revenue

  • Minimum Revenue Borrower and its Subsidiaries shall have Revenue from sales, marketing or distribution of the Product and related services (for each respective measured period, the “Minimum Required Revenue”): (a) during the twenty-four month period beginning on January 1, 2015, of at least $45,000,000; (b) during the twenty-four month period beginning on January 1, 2016, of at least $80,000,000; (c) during the twenty-four month period beginning on January 1, 2017, of at least $110,000,000; and (d) during the twenty-four month period beginning on January 1, 2018, of at least $120,000,000; and (e) during the twenty-four month period beginning on January 1, 2019, of at least $120,000,000.

  • 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 Cash As determined on the first of every calendar month, the Company shall at all times keep on-hand unencumbered, unrestricted cash in an amount greater than or equal to $1,000,000.

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • Minimum Call-Back Time All employees who are called out and required to work in an emergency outside their regular working hours shall be paid for a minimum of two (2) hours at overtime rates and shall be paid from the time they leave home to report for duty until the time they arrive back upon proceeding directly from work.

  • Minimum Consolidated Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Minimum Cash Balance Licensee shall fund the Facility Checking Account --------------------- with an initial amount equal to $25,000.00 and thereafter Licensee shall provide the working capital required by Section I(H) of this Agreement

  • Minimum Net Income If as of the last day of any calendar month within a fiscal quarter of the Seller, the Seller’s consolidated Adjusted Tangible Net Worth is less than [***] or the Seller, on a consolidated basis, has cash and Cash Equivalents in an amount that is less than [***], in either case, the Seller’s consolidated Net Income for that fiscal quarter before income taxes for such fiscal quarter shall equal or exceed [***].

  • Adjusted Quick Ratio A ratio of (i) Quick Assets to (ii) Current Liabilities minus the current portion of Deferred Revenue of at least 1.50 to 1.00.

  • Adjusted EBITDA The 2019 adjusted EBITDA for the Affiliated Club Sellers shall total an aggregate of not less than $10,700,000.

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