Minimum Recurring Revenue. TTM Recurring Revenue measured on a fiscal quarter-end basis for each fiscal quarter ending from and after the fiscal quarter ending March 31, 2015, of at least $4,500,000.
Minimum Recurring Revenue. As of the last day of each quarter on a trailing three (3) month basis, Borrower’s Recurring Revenue for such quarter shall not be less than the greater of (i) eighty percent (80%) of Borrower’s Recurring Revenue for such quarter as outlined in Borrower’s business plan approved by its board of directors or (ii) Borrower’s Recurring Revenue for the prior quarter.
Minimum Recurring Revenue. Upland shall maintain, on a consolidated basis with its consolidated Subsidiaries, as of any date of determination, recurring revenue, calculated on a trailing four quarter basis, of not less than $50,000,000, certified quarterly. Recurring revenue shall include pro forma recurring revenue of an acquired company.
Minimum Recurring Revenue. Achieve Recurring Revenue, measured on a quarter-end basis of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: $80,000,000 For the 12 month period endingon March 31, 2017 $80,000,000 For the 12 month period endingon June 30, 2017 $80,000,000 For the 12 month period endingon September 30, 2017 $80,000,000 For the 12 month period endingon December 31, 2017 $90,000,000 For the 12 month period endingon March 31, 2018 $90,000,000 For the 12 month period endingon June 30, 2018 $90,000,000 For the 12 month period endingon September 30, 2018 $90,000,000 For the 12 month period endingon December 31, 2018 $100,000,000 For the 12 month period endingon March 31, 2019 and the 12 monthperiod ending each June 30,September 30, December 31,and March 31 thereafter
Minimum Recurring Revenue. Borrower’s Recurring Revenue, annualized for the preceding 6 months, shall be not less than the following amounts, for the respective measuring periods set forth below: September 30, 2015 $ 8,695,000 December 31, 2015 $ 9,532,000 March 31, 2016 $ 10,256,000 June 30, 2016 $ 11,219,000 September 30, 2016 $ 11,855,000 December 31, 2016 $ 12,369,000 March 31, 2017 $ 13,187,000 June 30, 2017 $ 13,960,000 September 30, 2017 $ 14,595,000 December 31, 2017 $ 15,185,000 Thereafter, Borrower’s annualized quarterly Recurring Revenue shall not be less than the greater of (x) 80% of Borrower’s Board-approved plan (for projected Recurring Revenue), to be provided by Borrower to Lender in accordance with Section 5(h), above, or (y) $15,185,000.
Minimum Recurring Revenue. Borrower’s Recurring Revenue, annualized for the preceding 3 months, shall be not less than the following amounts, for the respective measuring periods set forth below: March 31, 2017 $ 16,500,000 June 30, 2017 $ 17,500,000 September 30, 2017 $ 18,500,000 December 31, 2017 $ 20,000,000 Thereafter, Borrower’s annualized quarterly Recurring Revenue shall not be less than the greater of (x) 80% of Borrower’s Board-approved plan (for projected Recurring Revenue), to be provided by Borrower to Lender in accordance with Section 5(h), above, or (y) $20,000,000.
Minimum Recurring Revenue. TTM Recurring Revenue, measured on a quarter-end basis of at least $5,000,000 for each quarter other than the quarter ending June 30, 2014, and TTM Recurring Revenue of at least $4,500,000 for the quarter ending June 30, 2014.
Minimum Recurring Revenue. (Section 6.9(a)) Required: Maintain at all times, to be tested as of the last day of each calendar quarter, Recurring Revenue for each calendar quarter of at least one hundred eighteen percent (118.0%) of the amount of Borrower’s Recurring Revenue for the corresponding calendar quarter in the immediately preceding calendar year. Actual: No, not in compliance Yes, in compliance
Minimum Recurring Revenue. Fail to maintain Recurring Revenue, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: $ 35,000,000 March 31, 2016, June 30, 2016 and September 30, 2016 $ 35,210,000 December 31, 2016 $ 35,629,000 March 31, 2017 $ 36,097,000 June 30, 2017 $ 36,532,000 September 30, 2017 $ 36,970,000 December 31, 2017 $ 37,410,000 March 31, 2018 $ 37,902,000 June 30, 2018 $ 38,359,000 September 30, 2018 $ 38,819,000 December 31, 2018 $ 39,281,000 March 31, 2019 $ 39,797,000 June 30, 2019 $ 40,277,000 September 30, 2019 $ 40,759,000 December 31, 2019 $ 41,244,000 March 31, 2020 $ 41,787,000 June 30, 2020 $ 42,290,000 September 30, 2020 $ 42,798,000 For the 4 fiscal quarter period ending each quarter thereafter
Minimum Recurring Revenue. Prior to the Covenant Conversion Date, achieve Recurring Revenue, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: $40,000,000 For the three quarter period ending September 30, 2020 $49,500,000 For the four quarter period ending December 31, 2020 $52,000,000 For the four quarter period ending March 31, 2021 $55,000,000 For the four quarter period ending June 30, 2021 $58,000,000 For the four quarter period ending September 30, 2021 $62,000,000 For the four quarter period ending December 31, 2021 $65,500,000 For the four quarter period ending March 31, 2022 $68,000,000 For the four quarter period ending June 30, 2022
