Minimum Net Revenue. Borrower shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the minimum amount set forth on Schedule 6.2 for such Defined Period. A breach of a financial covenant contained in this Section 6.2 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Samples: Credit and Security Agreement (Revolving Loan) (Novadaq Technologies Inc), Credit and Security Agreement (Term Loan) (Novadaq Technologies Inc)
Minimum Net Revenue. Borrower shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Periodquarterly, to be less than the minimum amount set forth on Schedule 6.2 attached hereto for such Defined Period. A breach of a financial covenant contained in this Section 6.2 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Samples: Credit and Security Agreement (Revolving Loan) (Invuity, Inc.), Credit and Security Agreement (Term Loan) (Invuity, Inc.)
Minimum Net Revenue. Borrower Borrowers shall not permit its consolidated their Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Periodeach calendar quarter (each a “Testing Date”), to be less than the minimum amount set forth on Schedule 6.2 6.1 for such Defined PeriodTesting Date. A breach of a financial covenant contained in this Section 6.2 6.1 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Samples: Credit and Security Agreement (Radius Health, Inc.), Credit and Security Agreement (Term Loan) (Radius Health, Inc.)
Minimum Net Revenue. Borrower shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly monthly on the last day of the applicable Defined PeriodPeriod (each such date, a “Testing Date”), to be less than the minimum amount set forth on Schedule 6.2 6.1 for such Defined PeriodTesting Date. A breach of a financial covenant contained in this Section 6.2 6.1 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Samples: Credit and Security Agreement (Term Loan) (Sight Sciences, Inc.), Credit and Security Agreement (Sight Sciences, Inc.)
Minimum Net Revenue. Borrower The Credit Parties and their Consolidated Subsidiaries shall not permit its their consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Periodquarterly, to be less than the minimum amount set forth on Schedule 6.2 for such Defined Period. A breach of a financial covenant contained in this Section 6.2 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Samples: Credit, Security and Guaranty Agreement (Oxford Immunotec Global PLC), Credit, Security and Guaranty Agreement (Term Loan) (Oxford Immunotec Global PLC)
Minimum Net Revenue. Borrower Borrowers shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the minimum amount set forth on Schedule 6.2 Applicable Minimum Net Revenue Threshold for such Defined Period. A breach of a financial covenant contained in this Section 6.2 9.1 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 1 contract
Samples: Credit and Security Agreement (STRATA Skin Sciences, Inc.)
Minimum Net Revenue. Borrower shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the minimum amount set forth on Schedule 6.2 6.1 for such Defined Period. A breach of a financial covenant contained in this Section 6.2 6.1 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 1 contract
