Minimum Operating Income Sample Clauses
The Minimum Operating Income clause sets a baseline level of income that an entity, such as a business or project, must generate during a specified period. This clause typically requires that the operating income not fall below a predetermined threshold, and may trigger certain actions if the minimum is not met, such as renegotiation of terms, additional financial support, or even termination of the agreement. Its core practical function is to protect stakeholders by ensuring the ongoing financial viability of the operation and providing a clear mechanism for addressing underperformance.
Minimum Operating Income. The Borrower will not permit Consolidated Operating Income for any period of two consecutive fiscal quarters ending at the end of the fiscal quarters set forth below (other than the fiscal quarter ending June 30, 2003, which shall be measured for the fiscal quarter ending on such date) to be less than the amount set forth opposite such fiscal quarter below: FISCAL QUARTER ENDING ON OR ABOUT AMOUNT ------------------ ------------ June 30, 2003 $ 23,000,000 September 30, 2003 $191,000,000 December 31, 2003 $290,000,000 March 31, 2004 $327,000,000 June 30, 2004 $364,000,000 September 30, 2004 $318,000,000 December 31, 2004 $275,000,000 March 31, 2005 $316,000,000 June 30, 2005 $356,000,000 September 30, 2005 $312,000,000
Minimum Operating Income. The Company will not, at the end of any fiscal quarter ending during any period described in the table set forth below, permit Consolidated Net Operating Income for the immediately preceding two fiscal quarters to be less than the amount set forth opposite such period in such table: Fiscal Quarter Ending Amount --------------------- ------ April 1, 2000 $17,000,000 July 1, 2000 $15,500,000 September 30, 2000 $26,500,000 December 30, 2000 $35,500,000 Each fiscal quarter ending thereafter $25,000,000
Minimum Operating Income. In no fiscal quarter of Borrowers, incur an operating loss in excess of Three Million Dollars ($3,000,000), calculated as EBIT, except that with respect to Borrowers' fiscal quarter ending January 31, 1998, said operating loss shall not exceed Three Million Five Hundred Thousand Dollars ($3,500,000), calculated as EBIT.
5. Credit Agreement Section 6.02.A is hereby restated to read as follows:
A. Capital Expenditures. Make Capital Expenditures and Timber and Timberlands Expenditures Non-Current in an aggregate amount in excess of Eight Million Dollars ($8,000,000) per fiscal year of Borrowers, except that for Borrowers' fiscal year ending April 30, 1998 said expenditures shall not exceed Eight Million Five Hundred Thousand Dollars ($8,500,000).
6. In all other respects, the Credit Agreement shall remain unchanged and in full force and effect.
Minimum Operating Income. As of the last day of each quarter, Borrower’s Operating Income (as defined under GAAP) for such quarter shall be no less than $500,000 for the first quarter of fiscal year 2009, and $1,200,000 for each subsequent quarter thereafter.
Minimum Operating Income. Maintain a Net Operating Income, determined for each period identified in the table set forth below as of the last day of such period, in an amount not less than the amount set forth in the following table for such period: Period Minimum Operating Income ------ ------------------------- Four fiscal quarter period ending on $31,600,000 the last day of each fiscal quarter ending after the Closing Date and on or prior to June 30, 2005 One fiscal quarter period ending on $ 8,474,400 the last day of each fiscal quarter ending after June 30, 2005 and on or prior to June 30, 2006 One fiscal quarter period ending on $ 8,672,400 the last day of each fiscal quarter ending after June 30, 2006 and on or prior to June 30, 2007
Minimum Operating Income. Consolidated Net Operating Income for fiscal quarter ended ______ (for immediately preceding two fiscal quarters)
(i) EBITDA for such period, minus $________ (ii) amortization and depreciation for such period $________ Consolidated Net Operating Income not to be less $___________ than the amount for the relevant period as set forth in the table below --------------------------------------------------------- Fiscal Quarter Ending Amount --------------------- ------ --------------------------------------------------------- March 31, 2000 $17,000,000 --------------------------------------------------------- June 30, 2000 $15,500,000 --------------------------------------------------------- September 30, 2000 $26,500,000 --------------------------------------------------------- December 31, 2000 $35,500,000 --------------------------------------------------------- Each fiscal quarter ending thereafter $25,000,000 --------------------------------------------------------- EXHIBIT E GENRAD, INC. Form of Borrowing Base Report _______________, ____, ____ To Each of the Banks Referred to Below c/o Fleet National Bank, as Agent ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Ladies and Gentlemen: Reference is hereby made to that certain Revolving Credit and Term Loan Agreement, dated as of March 24, 2000 (as the same may be amended and in effect from time to time, the "Credit Agreement"), by and among GenRad, Inc., GenRad Holdings Ltd., GenRad Europe Limited, GenRad Limited (collectively, the "Borrowers" and each individually, a "Borrower"), Fleet National Bank and the other lending institutions party thereto (collectively, the "Banks"), and Fleet National Bank as agent for itself and the other Banks (the "Agent"). Capitalized terms which are used herein without definition and which are defined in the Credit Agreement shall have the same meanings herein as in the Credit Agreement.
(a) the information furnished in the materials attached hereto was true, correct and complete as at ____________ _____, _____, (b) as of the date hereof, there exists no Default or Event of Default; and (c) the representations and warranties contained in Section 9 of the Credit Agreement were correct when made and are correct at and as of the date hereof (except to the extent of changes resulting from transactions contemplated or permitted by the Credit Agreement and changes occurring in the ordinary course of business that singly or in the aggregate are not materially adverse, and to the ex...