Minimum Net Revenues. Borrowers agree that an Event of Default shall be deemed to have occurred under this Agreement if the Borrowers’ Net Revenues for any twelve month trailing period preceding the end of each calendar quarter below (which shall be the Defined Period) shall be less than the amounts set forth below: Minimum Net Revenues Defined Period Ending for Defined Period March 31, 2009 $ 121,600,000 June 30, 2009 $ 126,300,000 September 30, 2009 $ 132,700,000 December 31, 2009 $ 132,200,000 March 31, 2010 $ 134,400,000 June 30, 2010 $ 136,100,000 September 30, 2010 $ 138,600,000 December 31, 2010 $ 145,000,000 March 31, 2011 $ 152,400,000 June 30, 2011 $ 159,600,000 ”
Minimum Net Revenues. The Borrower shall not permit the Net Revenue for any Fiscal Quarter to be less than $30,000,000. In the event the Net Revenue for any Fiscal Quarter is less than $30,000,000, the Borrower may cure such default by prepaying the Loans in a principal amount equal to $30,000,000 minus the actual Net Revenue for such Fiscal Quarter, together with all accrued and unpaid interest thereon and the applicable Repayment Premium; provided, that the Borrower may exercise such cure right no more than two times in any Fiscal Year and no more than six times during the term of this Agreement. To make such prepayment, the Borrower shall deliver an irrevocable written notice to the Lender no later than the date for delivery of the Compliance Certificate applicable to such Fiscal Quarter pursuant to Section 7.1(d), and such notice shall specify the date of prepayment (which shall be a Business Day and in no event be later than three Business Days after the date of such notice). Notwithstanding anything to the contrary in Article IX or in any other Loan Document, after receipt of written notice from the Borrower of the Borrower’s intention to cure a default under this Section 8.4 and (a) until the date of prepayment, the Lender shall not have any right to declare all or any portion of the Commitment to make Loans permanently terminated, declare all or any portion of the unpaid principal amount of any outstanding Loans, interest accrued and unpaid thereon, and all amounts owing or payment hereunder or under the Loan Documents immediately due and payable, or take any other action it is otherwise entitled to take under the Loan Documents or applicable law (including any right to foreclose on or take possession of Collateral) solely on the basis of an Event of Default having occurred and being continuing under Section 9.1 due to failure by the Borrower to comply with the financial covenant set forth in this Section 8.4; provided, however, if such an Event of Default has occurred and is continuing during such period and unless and until a prepayment is made in accordance with this Section 8.4, the Lender shall not be required to advance any Loan under this Agreement, and (b) upon the making of a prepayment in accordance with this Section 8.4, any Default or Event of Default arising solely due to the failure by the Borrower to comply with the financial covenant set forth in this Section 8.4 shall be deemed to be cured as of the last day of the Fiscal Quarter and solely for the Fisc...
Minimum Net Revenues. Beginning with the fiscal quarter of the Borrower ending on June 30, 2023, and with respect to each subsequent fiscal quarter, the Net Revenues of the Borrower and its Subsidiaries for the twelve (12) consecutive month period ending on the last day of such fiscal quarter shall not be less than the Minimum Net Revenues for such quarter (the “Minimum Net Revenues Covenant”).
Minimum Net Revenues. Section 6.2 of the Credit Agreement is hereby amended in its entirety and replaced with the following:
Minimum Net Revenues. As of the last day of each full fiscal quarter during the period from the Merger Effective Date through and including the last day of the fiscal quarter ending on the second anniversary thereof (or, if such second anniversary is not the last day of a fiscal quarter, the first fiscal quarter ending thereafter), have net revenues of the Borrower and its Subsidiaries determined on a Consolidated basis in accordance with GAAP for each such full fiscal quarter of not less than $350,000,000.
Minimum Net Revenues. Borrower shall maintain minimum net revenues of: (i) Four Million Five Hundred Thousand Dollars ($4,500,000.00) for the fiscal quarter ending March 31, 2003; (ii) Five Million Five Hundred Thousand Dollars ($5,500,000.00) for the fiscal quarter ending June 30, 2003; (iii) Six Million Seven Hundred Fifty Thousand Dollars ($6,750,000.00) for the fiscal quarter ending September 30, 2003; (iv) Six Million Dollars ($6,000,000.00) for the fiscal quarter ending December 31, 2003, and (v) for each fiscal quarter thereafter, an amount equal to the greater of: (A) Six Million Dollars ($6,000,000.00), or (B) seventy-five percent (75.0%) of the revenue plan approved by Borrower's Board of Directors.
Minimum Net Revenues. The Borrower shall not permit Net Revenues for Tranche A Loan Parties and Tranche B Loan Parties for the nine-month period ending September 30, 2001 and for the twelve-month periods ending December 31, 2001 and March 31, 2002 to be less than the corresponding amount set forth below with respect to such Loan Parties for such periods. In addition, the Borrower shall not permit Net Revenues for the Borrower and its Subsidiaries for any twelve-month period thereafter, ending on any date set forth below, to be less than the corresponding amount set forth below for such period. Period Ending Time Measured (trailing months) Tranche A Loan Parties Tranche B Loan Parties Consolidated 09/30/01 9 Months $ 58,400,000 $ 19,000,000 NA 12/31/01 12 Months $ 80,700,000 $ 23,400,000 NA 03/31/02 12 Months $ 78,200,000 $ 35,800,000 XX 00/00/00 00 Xxxxxx XX XX $ 124,300,000 09/30/02 12 Months NA NA $ 142,300,000 12/31/02 12 Months NA NA $ 161,800,000 03/31/03 12 Months NA NA $ 160,000,000 06/30/03 12 Months NA NA $ 164,200,000 09/30/03 12 Months NA NA $ 166,900,000 ”
Minimum Net Revenues. Permit Note Party Net Revenues at any fiscal quarter end occurring during any period set forth in the table below, to be less than the amount set forth opposite such period in the table below: Fiscal Quarter Ended Note Party Net Revenues June 30, 2015 $ 9,000,000 September 30, 2015 $ 8,000,000 December 31, 2015 $ 9,000,000 March 31, 2016 $ 10,000,000 June 30, 2016 $ 10,000,000 September 30, 2016 $ 8,750,000 December 31, 2016 $ 10,000,000 March 31, 2017 $ 12,000,000 June 30, 2017 $ 12,000,000 September 30, 2017 $ 10,250,000 December 31, 2017 $ 12,000,000 March 31, 2018 $ 14,000,000 June 30, 2018 $ 14,000,000 September 30, 2018 $ 11,750,000 December 31, 2018 $ 14,000,000 Fiscal Quarter Ended Note Party Net Revenues March 31, 2019 $ 14,000,000 June 30, 2019 $ 14,000,000 September 30, 2019 $ 11,750,000 December 31, 2019 $ 14,000,000 March 31, 2020 $ 14,000,000
Minimum Net Revenues. At the end of each Fiscal Month, the net revenues of the Borrower and its Consolidated Subsidiaries for the Fiscal Month just ended and the immediately preceding 5 Fiscal Months shall not be less than the amounts set forth below for the applicable periods set forth below (references are to Fiscal Months): Fiscal Month Minimum Net Revenue 9th FM of FY2002 $236,000,000 10th FM of FY2002 $224,000,000 11th FM of FY 2002 $216,000,000 For 12th FM of FY 2002 and all FM's thereafter $211,000,000.
Minimum Net Revenues. Permit Borrower's Net Revenue from -------------------- operations to fall below the amount shown below for the period corresponding thereto: -------------------------------------------------------------------- For the period of: Minimum Net Revenues -------------------------------------------------------------------- November 1, 1999 to December 31, 1999 $49,865,000 -------------------------------------------------------------------- December 1, 1999 to January 31, 2000 $51,380,000 -------------------------------------------------------------------- January 1, 2000 to February 29, 2000 $50,485,000 -------------------------------------------------------------------- February 1, 2000 to March 31, 2000 $52,895,000 -------------------------------------------------------------------- March 1, 2000 to April 30, 2000 $56,965,000 -------------------------------------------------------------------- April 1, 2000 to May 31, 2000 $58,080,000 -------------------------------------------------------------------- May 1, 2000 to June 30, 2000 $58,670,000 --------------------------------------------------------------------
