Minimum EBIT Clause Samples

Minimum EBIT. On each Computation date set forth below, the Borrower shall not permit the total Cumulative EBIT (calculated for the period of time beginning on February 1, 2003 and February 1, 2004 through such Computation Date) to be less than the minimum amount set forth below: MINIMUM COMPUTATION DATE CUMULATIVE EBIT ---------------- --------------- April 30, 2003 $ (200,000) July 31, 2003 $ 300,000 October 31, 2003 $1,300,000 January 31, 2004 $2,300,000 April 30, 2004 $ (200,000)

Minimum EBIT. Only to the extent that such is needed to achieve an annualized $3,000,000 run-rate minimum earnings before interest and taxes ("EBIT") level, Purchaser shall have received evidence to Purchaser's satisfaction that up to $800,000 of the combined total of (i) annualized direct expense compensation payroll and related direct payroll fringe cost and (ii) corporate administrative overhead (without giving effect to any consolidation into Purchaser) has been identified by Seller for elimination ("DIRECT EXPENSE COMPENSATION AND G&A REDUCTION") by the Closing Date without impairing the integrity or revenue stream of the related programs. This Direct Expense Compensation and G&A Reduction must be detailed program, by specific employee, etc. and may not include reductions from changes in benefit programs (i.e., insurance, retirement, paid-days-off, etc.) related to non-terminated employees or any reductions in real estate taxes, but may include reductions in other out-of-pocket direct operating expenses. Prior to Closing, Seller shall have implemented at least $250,000 of the Direct Expense Compensation and G&A Reduction, without impairing the integrity or profitability of the Seller's operations.

Minimum EBIT. Borrower shall have minimum quarterly EBIT of at least Three Million Five Hundred Thousand Dollars ($3,500,000.00).”

Minimum EBIT. Parent and its Subsidiaries on a consolidated ------------ basis shall maintain for each four Fiscal Quarter period, commencing with the four Fiscal Quarter period ending on or about December 31, 1998, EBIT for such period of not less than the amount for such period set forth below: Four Fiscal Quarter Period Ending --------------------------------- on or about: Minimum EBIT ----------- ------------ December 31, 1998 $(17,000,000) March 30, 1999 (13,000,000) June 30, 1999 (13,000,000) September 30, 1999 (6,000,000) December 31, 1999 3,500,000 and thereafter"

Minimum EBIT. On each Computation Date set forth below, the Borrower shall not permit its total cumulative EBIT (calculated for the period of time beginning on February 1, 2000 through such Computation Date) to be less than the minimum amount set forth below: MINIMUM COMPUTATION DATE CUMULATIVE EBIT ---------------- --------------- April 30, 2000 ($1,000,000.00) July 31, 2000 ($ 700,000.00) October 31, 2000 Break Even January 31, 2001 $ 500,000.00 Borrower and Lender shall amend this Agreement on or before February 28, 2001, to provide covenant compliance (at minimum levels acceptable to Lender) under Sections 6.4(a) and 6.4(b) above for April 30, 2001 and each Computation Date thereafter."

Minimum EBIT. EBIT of at least the required amount set forth in the following table for the trailing twelve month period ended as of the applicable date set forth opposite thereto:

Minimum EBIT. Under Section 6.17 of the Credit Agreement, the Borrower agreed not to permit its annualized EBIT, as of December 31, 2002, to be less than $4,000,000. As of December 31, 2002, the Borrower's annualized EBIT was less than $4,000,000. As a result, an Event of Default has occurred under Section 7.1(c) of the Credit Agreement.

Minimum EBIT. To maintain on a consolidated basis for the Borrower and its Domestic Subsidiaries EBIT of not less than a NEGATIVE One Million Dollars (-$1,000,000) for each quarterly accounting period. For purposes of this Agreement, 'EBIT' means net income for such period, LESS, to the extent added in determining such net income, interest income, PLUS, to the extent deducted in determining such net income, (i) interest expense, (ii) all federal, state, local and foreign income taxes and (iii) the ▇▇▇▇▇▇ Charges up to a maximum of One Hundred Twenty Five Million Dollars ($125,000,000) in the aggregate." 2.2 In Paragraph 6.9 of the Agreement, the amount "Fifty Five Million Dollars ($55,000,000)" is substituted for the amount "Fifteen Million Dollars ($15,000,000)." 2.3 In Paragraph 6.12 of the Agreement, the amount "One Hundred Ninety Ninety Million Dollars ($190,000,000)" is substituted for the amount "One Hundred Eighty Million Dollars ($180,000,000)."

Minimum EBIT. Borrower will not permit EBIT (as defined below) to be negative by more than (i) $9,000,000 for the four fiscal quarters ending on or about June 30, 2001, (ii) $4,000,000 for the four fiscal quarters ending on or about June 30, 2002, or (iii) $400,000 for the fiscal quarter ended on or about December 28, 2002, and Borrower will not permit EBIT to be less than $1.00 for the fiscal quarter ended on or about March 31, 2003 or for any fiscal quarter thereafter. (iii) Paragraph 4 of Schedule 7.3 is amended by deleting from the chart of required Consolidated Tangible Net Worth the words “$22,000,000 plus 50% of the cumulative positive consolidated net income of Borrower and its Subsidiaries for the fiscal quarters ending on or about March 31, 2003 or thereafter” and substituting therefor the words “$20,000,000 plus 50% of the cumulative positive consolidated net income of Borrower and its Subsidiaries for the fiscal quarters ending on or about March 31, 2003 or thereafter”.