Minimum Monthly Recurring Revenue Sample Clauses

Minimum Monthly Recurring Revenue. Commencing with the month ending September 30, 2012, and as of the last day of each month thereafter, for the trailing three (3) month period then ended, minimum Monthly Recurring Revenue of at least the following amounts at the following times: September 30, 2012 $ 12,807,000 October 31, 2012 $ 13,384,000 November 30, 2012 $ 13,986,000 December 31, 2012 $ 14,615,000 January 31, 2013 $ 15,300,000 Subject to the terms set forth below, February 28, 2013 and as of the last day of each month thereafter for the immediately preceding three (3) month period then ended An amount equal to not less than the sum of the minimum Monthly Recurring Revenue as of the end of the last day of the month immediately preceding the three (3) month period then ended, plus four percent (4%) For purposes of calculating the minimum Monthly Recurring Revenue for February, such calculation will be prorated on the basis of twenty-eight (28) calendar days. Notwithstanding the foregoing, commencing with the month ending January 31, 2013, Borrower’s minimum Monthly Recurring Revenue is subject to change based on Borrower’s annual financial projections approved by Borrower’s Board of Directors for the December 31, 2013 and December 31, 2014 fiscal years, which shall be equal to or greater than seventy-five percent (75%) of Borrower’s projected performance for each such month, as determined by Bank in its sole discretion (the “2013/2014 MRR Covenant”). Borrower’s failure to reach an agreement with Bank on the 2013/2014 MRR Covenant and to execute and deliver to Bank an amendment to this Agreement on or by March 15, 2013 and March 15, 2014, for the years ended December 31, 2013 and December 31, 2014, respectively, shall constitute an immediate Event of Default under this Agreement.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Minimum Monthly Recurring Revenue. Borrower’s Recurring Revenue shall not decline for any two consecutive months. In addition, measured at the last month of each fiscal quarter, Borrower’s Recurring Revenue shall not be less than the amounts shown below for the applicable periods shown below: First Quarter 2013 $2,050,000 Second Quarter 2013 $2,100,000 Third Quarter 2013 $2,250,000 Fourth Quarter 2013 $2,500,000 First Quarter 2014 and thereafter To be determined by Bank based on receipt of Borrower’s projections in accordance with Section 6.2.
Sample 1
Minimum Monthly Recurring Revenue. Measured on a trailing three (3) month average basis as of the last day of each calendar month, beginning with the month ending November 30, 2023, Borrowers shall not permit its aggregate Monthly Recurring Revenue for the most recent month then ended to fall below the amount set forth below: Each month, during the period commencing with the month ending November 30, 2023 and ending with the month ending November 30, 2024 $2,300,000 Each month thereafter An amount equal to the greater of (i) $2,300,000 and (ii) 105% of Borrowers’ actual Monthly Recurring Revenue for the applicable month’s prior year (e.g., the Monthly Recurring Revenue measured on a trailing three (3) month average basis as of the last day of December 2024 to be greater than or equal to 105% of the Monthly Recurring Revenue measured on a trailing (3) month average basis as of the last day of December 2023 Monthly Recurring Revenue) ​ ​
Sample 1
Minimum Monthly Recurring Revenue. (i) As of the last day of any calendar month ending on or after the Closing Date, permit the actual minimum Monthly Recurring Revenue, averaged on a trailing three (3) month basis, to be less than the projected total minimum Monthly Recurring Revenue as set forth in Schedule 9.20(e) and calculated in the manner described in Schedule 9.20(e). (ii) As of the last day of any calendar month ending on or after the Closing Date, permit the sum of the trailing 6 month actual Monthly Recurring Revenue for the Uplink line of business (which shall be consistent with the breakout for such line of business provided in that certain model dated as of June 1, 2017 and delivered to the Purchasers prior to the Closing Date), to be less than $8,000,000. For purposes of testing the trailing Monthly Recurring Revenue, the six-month actual results will be calculated as the sum of the test month plus the five previous months’ actual results for the Uplink line of business.
Sample 1

Related to Minimum Monthly Recurring 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.

  • Gross Revenue The Gross Revenue shall be inclusive of installation charges, late fees, sale proceeds of handsets (or any other terminal equipment etc.), revenue on account of interest, dividend, value added services, supplementary services, access or interconnection charges, roaming charges, revenue from permissible sharing of infrastructure and any other miscellaneous revenue, without any set-off for related item of expense, etc.

  • Minimum Monthly Rent (Section 1.5): Tenant shall pay to Landlord Minimum Monthly Rent for the Premises during the Extended Term in accordance with the schedule and in the amount set forth below: 01/01/13-07/31/13 $ 1,776.25 per month $ 8,645.00 per month $ 10,421.25 per month 08/01/13-07/31/14 $ 1,827.00 per month $ 8,892.00 per month $ 10,719.00 per month 08/01/14-07/31/15 $ 1,877.75 per month $ 9,139.00 per month $ 11,016.75 per month

  • 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 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.

  • Gross Sales Notwithstanding anything in the Lease to the contrary the definition of Gross Sales shall be as follows:

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Contract Quarterly Sales Reports The Contractor shall submit complete Quarterly Sales Reports to the Department’s Contract Manager within 30 calendar days after the close of each State fiscal quarter (the State’s fiscal quarters close on September 30, December 31, March 31, and June 30). Reports must be submitted in MS Excel using the DMS Quarterly Sales Report Format, which can be accessed at xxxxx://xxx.xxx.xxxxxxxxx.xxx/business_operations/ state_purchasing/vendor_resources/quarterly_sales_report_format. Initiation and submission of the most recent version of the Quarterly Sales Report posted on the DMS website is the responsibility of the Contractor without prompting or notification from the Department’s Contract Manager. If no orders are received during the quarter, the Contractor must email the DMS Contract Manager confirming there was no activity.

  • 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.

  • Gross Revenues All revenues, receipts, and income of any kind derived directly or indirectly by Lessee from or in connection with the Hotel (including rentals or other payments from tenants, lessees, licensees or concessionaires but not including their gross receipts) whether on a cash basis or credit, paid or collected, determined in accordance with generally accepted accounting principles, excluding, however: (i) funds furnished by Lessor, (ii) federal, state and municipal excise, sales, and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes and paid over to federal, state or municipal governments, (iii) the amount of all credits, rebates or refunds to customers, guests or patrons, and all service charges, finance charges, interest and discounts attributable to charge accounts and credit cards, to the extent the same are paid to Lessee by its customers, guests or patrons, or to the extent the same are paid for by Lessee to, or charged to Lessee by, credit card companies, (iv) gratuities or service charges actually paid to employees, (v) proceeds of insurance and condemnation, (vi) proceeds from sales other than sales in the ordinary course of business, (vii) all loan proceeds from financing or refinancings of the Hotel or interests therein or components thereof, (viii) judgments and awards, except any portion thereof arising from normal business operations of the Hotel, and (ix) items constituting “allowances” under the Uniform System.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!