Minimum Gross Profit Margin Sample Clauses

Minimum Gross Profit Margin. Supplier and Distributor agree that Distributor’s gross profit margin on the sale of all Products must be set to meet the cost associated with that individual state. Margin will be reviewed on a blended basis for all Products, and Supplier will price and support the Products accordingly. Supplier acknowledges that Distributor is legally required to independently set its own prices for the sale of the Products under state and federal antitrust laws.
Sample 1
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Minimum Gross Profit Margin. A Gross Profit Margin of not less than the below indicated percentages during the corresponding below indicated fiscal quarters periods: ------------------------------------------------------- PERIOD GROSS PROFIT MARGIN ------------------------------------------------------- 12/31/01 thru 9/30/02 44% ------------------------------------------------------- 10/1/02 thru 3/31/03 42% ------------------------------------------------------- 4/1/03 thru 12/31/03 40% ------------------------------------------------------- 1/1/04 thru 12/31/04 38% ------------------------------------------------------- As of and After 37% 1/1/05 -------------------------------------------------------
Sample 1
Minimum Gross Profit Margin. Gross Profit Margin (as defined and calculated in accordance with GAAP) of AT LEAST the following percentages during each of the following months (WHICH covenant shall be measured as of the last day of each month and shall be reported monthly under Section 4.2.1):
Sample 1
Minimum Gross Profit Margin. Cumulative revenue for any particular period that is counted for purposes of calculating a Benchmark-related payment shall have a minimum Gross Profit Margin of Sixty Five Percent (65%). Gross Profit Margin is calculated by subtracting the cost of goods from the revenue being booked (pursuant to GAAP); provided, however, that no overhead charges or allocations shall be included in such calculation except for the amortized portion of any Message Logic software development costs (pursuant to GAAP). If the Gross Profit Margin is less than Sixty Five Percent (65%), then the Benchmark-related payment (i.e., both cash and shares) for the period in question shall be reduced as follows: 65% 0% 60% to 64.99% 5% 55% to 59.99% 10% 50% to 54.99% 15% 45% to 49.99% 20% 40% to 44.99% 25% Less than 40% 100% i) For example, assume the cumulative revenue derived from Message Logic Assets for a period is ***; this is net of any discounts given to resellers or distributors and represents the revenue being received by DSC from the sale. The cost of goods sold associated with such revenue is ***. Gross Profit Margin is calculated as Revenue – COGS or *** - *** = ***. The Gross Profit Margin percentage is ***/***, or 80% Gross Profit Margin. *** CONFIDENTIAL PORTIONS HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. ASTERISKS DENOTE OMISSIONS.
Sample 1
Minimum Gross Profit Margin. Cumulative revenue for any particular period that is counted for purposes of calculating a Benchmark-related payment shall have a minimum Gross Profit Margin of Sixty Five Percent (65%). Gross Profit Margin is calculated by subtracting the cost of goods from the revenue being booked (pursuant to GAAP); provided, however, that no overhead charges or allocations shall be included in such calculation except for the amortized portion of any Message Logic software development costs (pursuant to GAAP). If the Gross Profit Margin is less than Sixty Five Percent (65%), then the Benchmark-related payment (i.e., both cash and shares) for the period in question shall be reduced as follows: i) For example, assume the cumulative revenue derived from Message Logic Assets for a period is $400,000; this is net of any discounts given to resellers or distributors and represents the revenue being received by DSC from the sale. The cost of goods sold associated with such revenue is $80,000. Gross Profit Margin is calculated as Revenue – COGS or $400,000 - $80,000 = $320,000. The Gross Profit Margin percentage is $320,000/$400,000, or 80% Gross Profit Margin.
Sample 1
Minimum Gross Profit Margin. Gross Profit Margin for the fiscal quarter then ended of at least the following:
Sample 1
Minimum Gross Profit Margin. Permit Gross Profit Margin to be less than the percentage hereinbelow specified as of the last day of each month: (i) for the period from January 1, 2011, through and including December 31, 2011, as calculated on a cumulative basis: March 31, 2011 35.85% April 28, 2011 32.25% May 31, 2011 33.50% June 30, 2011 20.70% July 31, 2011 19.30% August 31, 2011 17.50% September 30, 2011 17.20% October 31, 2011 17.15% November 30, 2011 16.95% December 31, 2011 16.85% (ii) from January 1, 2012, and thereafter, as calculated on trailing 12 month basis: January 31, 2012 17.05% February 28, 2012 16.90% March 31, 2012 16.85% April 30, 2012 16.80% May 31, 2012, and June 30, 2012 16.65% July 31, 2012 17.20% August 31, 2012 17.85%
Sample 1
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Minimum Gross Profit Margin. Prior to the Line Effective Date, a Gross Profit Margin of not less than 36.0% during any two consecutive fiscal quarters beginning with fiscal quarter ending December 31, 2000 and continuing through fiscal quarter ending December 31, 2001, and as of and after the Line Effective Date, a Gross Profit Margin of not less than 37.5% during any two consecutive fiscal quarters beginning with fiscal quarter ending December 31, 2000 and continuing through fiscal quarter ending December 31, 2001.
Sample 1

Related to Minimum Gross Profit Margin

  • 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 EBITDA Section 9.23(c) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

  • 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 [***].

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

  • 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

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

  • Annual Percentage Rate Each Receivable has an APR of not more than 25.00%.

  • EBITDA The term “EBITDA” shall mean, with respect to any fiscal period, “Consolidated EBITDA” as defined in the Credit Agreement, provided that the following should also be excluded from the calculation of EBITDA to the extent not already excluded from the calculation of Consolidated EBITDA under the Credit Agreement: (i) Non-Cash Charges (as defined in the Credit Agreement) related to any issuances of equity securities; (ii) fees and expenses relating to the Acquisition; (iii) financing fees (both cash and non-cash) relating to the Acquisition; (iv) covenant-not-to-compete payments to certain members of the Company’s senior management and related expenses; (v) expenses (or any portion thereof) incurred outside of the ordinary course of business that are approved by the Board which the Board determines in its good faith discretion are in the best interest of the Company but which will have a disproportionately adverse impact on the Company’s short term financial performance, affecting the Company’s ability to achieve financial targets related to the vesting of the Class C Units under the Incentive Unit Subscription Agreements or the Company’s annual bonus plan; (vi) costs and expenses incurred in connection with evaluating and consummating acquisitions not contemplated by the Company’s annual plan, as such plan is approved by the Board in good faith; (vii) related party expenditures that are subject to the prior written consent of the Majority Executives pursuant to Section 2.3(a) of the Securityholders Agreement but have failed to receive such consent; (viii) advisors’ fees and expenses incurred outside the ordinary course of business related solely to Vestar’s activities that are unrelated to the Company; (ix) costs associated with any put option or call option contemplated by any Rollover Subscription Agreement or Incentive Unit Subscription Agreement; (x) costs associated with any proposed initial Public Offering or Sale of the Company (as such terms are defined in the Securityholders Agreement); (xi) expenses related to any litigation arising from the Acquisition; (x) management fees and costs related to the activities giving rise to such fees that are paid to, paid for or reimbursed to Vestar and its Affiliates; and (xii) material expenditures or incremental expenditures inconsistent with prior practice (to the extent that prior practice is relevant) required by Board (where Management Managers (as defined in the Securityholders Agreement) unanimously dissent) unless such expenditures are reasonably likely to result in any benefit (whether economic or non-economic) to the Company as determined by the Board in its good faith discretion.

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