Minimum Earnings. The Borrowers shall maintain on a consolidated basis at all times as of the end of each calendar month EBITDA of not less than 90% of the projected EBITDA for such month as set forth in the Borrowers' business plan dated October 23, 1996.
Minimum Earnings. During the term of this Note, Borrower's reported net income, as defined by GAAP, plus amortization expenses reported for the amortization of intangible expenses associated with the acquisition of assets or equity, for any four quarters within any consecutive six quarterly periods of time, shall in the aggregate exceed $1,500,000 for such four quarters taken together.
Minimum Earnings. The Company covenants that it will not permit Consolidated EBITDA (i) for the fiscal quarter period ending October 2, 2010 to be less than ($5,000,000), (ii) for the two fiscal quarter period ending on December 31, 2010 to be less than ($10,000,000) (iii) for the three fiscal quarter period ending on April 2, 2011 to be less than ($10,000,000) and (iv) for the four fiscal quarter period ending on June 30, 2011 to be less than ($10,000,000).
Minimum Earnings. The Borrower will not incur a total loss for the fiscal year ending December 31, 2019 in excess of Six Hundred Forty Thousand ($640,000.00) Dollars and the Borrower will achieve, during each quarter of its fiscal year and on a year-to-date basis at the end of each quarter, commencing with the fiscal quarter ending March 31, 2020, Earnings Before Taxes of not less than one hundred (100%) percent of its projected Earnings Before Taxes set forth in the projections required pursuant to Section 6.1(d) hereof, or delivered to Lender in connection with the initial funding of the Credit Facility and attached hereto as Exhibit C and updated annually on or before November 30 in each fiscal year (or more frequently if approved by the Lender, and solely at the Lender's discretion, on a case by case basis) or, in the alternative, if the Borrower has projected a loss, the Borrower will not incur as of the end of each quarter and on a year·-to-date basis, at the end of each quarter, a loss greater than its projected loss.
Minimum Earnings. (a) In the event that (i) the Borrower makes any prepayment or repayment of the Term Loans (excluding (A) any prepayment or repayment made from Net Cash Proceeds from any Casualty Event pursuant to Section 4.3(b), and (B) required amortization payments under Section 4.1)) or (ii) the Term Loans are accelerated for any reason (including in connection with the commencement of any Insolvency Proceeding), the Borrower shall pay to the Agent on the date of any such prepayment or repayment, for the ratable account of each of the applicable Lenders, a fee in an amount equal to:
(i) The Minimum Earnings Amount plus 2% in the case of such prepayments or repayments, or prepayment or repayments resulting from acceleration, occurring during the Minimum Earnings Period. In determining any Minimum Earnings Amount, the following terms shall have the following meanings:
Minimum Earnings. Borrower shall not for any fiscal year ending during the term of this Agreement permit EBITDA for the twelve-month period (or such shorter period as may be applicable):
Minimum Earnings. As of each date set forth below, Borrower shall have earnings plus depreciation, amortization, and interest expense of not less than the amount set forth opposite such date below measured from January 1, 1999, on a year to date basis: Date: Required EBIDA: ----- --------------- March 31, 1999 $ 20,000 April 30, 1999 $ 60,000 May 31, 1999 $100,000 June 30, 1999 $160,000"
Minimum Earnings. The Company covenants that it will not permit Consolidated EBIT (i) for the fiscal quarter period ending April 3, 2010 multiplied by 4, (ii) for the two fiscal quarter period ending on July 3, 2010, multiplied by 2, (iii) for the three fiscal quarter period ending on October 2, 2010, multiplied by 4/3 or (iv) for the four fiscal quarter period ending on December 31, 2010, in each case to be less than ($15,000,000).
(f) Section 6C(2) of the Note Agreement is hereby amended by replacing such section in its entirety with the following:
Minimum Earnings. Section 6.17 of the Credit Agreement is amended in its entirety to read as follows:
Minimum Earnings. (i) Maintain at all times not less that the following Consolidated Adjusted Net Earnings from Operations for the corresponding periods set forth below. Fiscal Period Amount September 1995 <$1,500,000> October 1995 <$1,500,000> November 1995 <$1,500,000> December 1995 <$1,500,000> Each Fiscal <$2,500,000>
(ii) Maintain at all times, on a fiscal quarter-to-date basis, not less than the following Consolidated Adjusted Net Earnings from Operations during the corresponding fiscal quarters set forth below: Fiscal Period Amount Each fiscal quarter <$3,500,000> From the third fiscal quarter of Fiscal Year ending January 1996 through and including the third fiscal quarter Of Fiscal Year ending January 1997 Each fiscal quarter <$2,000,000> thereafter
(iii) Maintain at all times not less than the following Consolidated Adjusted Net Earnings from Operations for the period of twelve (12) consecutive Fiscal Periods including and ending with the corresponding Fiscal Periods set forth below: Fiscal Period Amount August 1995 $1,500,000 September 1995 through <$2,500,000> November 1996 Each Fiscal Period $0.00 thereafter
2.2 Section 8.3(G) of the Loan Agreement is hereby deleted in its entirety and the following is substituted therefor.
