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.
Minimum Revenue. On each date set forth below (a “Calculation Date”) under the heading “Calculation Date,” the Consolidated Net Revenue for the trailing twelve-month period ended on such Calculation Date shall not be less than the amount set forth opposite such Calculation Date: December 31, 2018 $ 11,337,000 March 31, 2019 $ 11,430,000 June 30, 2019 $ 10,822,000 September 30, 2019 $ 10,777,000 December 31, 2019 $ 10,836,000 March 31, 2020 $ 11,256,000 June 30, 2020 $ 12,112,000 September 30, 2020 $ 12,604,000 December 31, 2020 $ 14,117,000 March 31, 2021 $ 14,258,000 June 30, 2021 $ 14,435,000 September 30, 2021 $ 14,590,000 December 31, 2021 $ 14,823,000 March 31, 2022 $ 14,971,000 June 30, 2022 $ 15,157,000
Minimum Revenue. As of the last day of each fiscal quarter, commencing with the fiscal quarter ending December 31, 2022, the Borrower shall not permit consolidated Revenues of the Borrower and its Subsidiaries for the trailing twelve month period ending on the last day of such fiscal quarter to be less than the amount set forth below of each applicable period: December 31, 2022 $ 226,500,000.00 March 31, 2023 $ 253,100,000.00 June 30, 2023 $ 283,500,000.00 September 30, 2023 $ 312,900,000.00 December 31, 2023 $ 342,700,000.00 March 31, 2024 $ 371,600,000.00 June 30, 2024 $ 408,300,000.00 September 30, 2024 $ 443,000,000.00 December 31, 2024 $ 459,100,000.00 March 31, 2025 $ 487,900,000.00 June 30, 2025 $ 521,900,000.00 September 30, 2025 $ 556,700,000.00 December 31, 2025 and each fiscal quarter thereafter $ 594,100,000.00
Minimum Revenue. Not permit the revenue of Holdings and its Subsidiaries (as recognized in accordance with GAAP) as of the last day of any Test Period set forth in the table below, to be less than the amount set forth opposite such Test Period for such Test Period then ended:
Minimum Revenue. As of the last day of each fiscal quarter, Parent and its Subsidiaries shall have revenue (determined in accordance with GAAP) of not less than the Minimum Revenue.
Minimum Revenue. Minimum Revenue, based on the most recent quarterly financial statement delivered to Bank pursuant to Section 6.2 of this Agreement of not less than the following amounts for the following periods: $11,400,000 for the quarter ending September 30, 2001; $12,700,000 for the quarter ending December 31, 2001; $13,400,000 for the quarter ending March 31, 2002; $14,700,000 for the quarter ending June 30, 2002; $16,200,000 for the quarter ending September 30, 2002; and $16,900,000 for the quarter ending December 31, 2002.
Minimum Revenue. As of the last day of each fiscal quarter concluding on and after the Closing Date, the Borrower and its consolidated entities shall have revenue (determined in accordance with GAAP) of not less than $150,000,000 on a trailing 12 month basis.
Minimum Revenue. (a) Borrower and its Subsidiaries shall have Revenue:
(i) during the twelve month period beginning on January 1, 2013, of at least $5,000,000;
(ii) during the twelve month period beginning on January 1, 2014, of at least $25,000,000;
(iii) during the twelve month period beginning on January 1, 2015, of at least $50,000,000;
(iv) during the twelve month period beginning on January 1, 2016, of at least $75,000,000;
(v) during the twelve month period beginning on January 1, 2017, of at least $100,000,000;
(vi) during the twelve month period beginning on January 1, 2018, and each twelve month period following thereafter, of at least $125,000,000. It is acknowledged and agreed that the financial covenant described in clause (a) above shall only be tested on the last day of each applicable period referenced in clauses(a)(i) through (a)(vi) above.
Minimum Revenue. Borrower and its Subsidiaries shall have annual Revenue (for each respective calendar year, the “Minimum Required Revenue”):
(a) during the twelve month period beginning on January 1, 2015, of at least $8,000,000;
(b) during the twelve month period beginning on January 1, 2016, of at least $20,000,000;
(c) during the twelve month period beginning on January 1, 2017, and during each twelve month period thereafter beginning on January 1 of each such period, of at least $30,000,000.
Minimum Revenue. Notwithstanding any of the foregoing, Contata will retain an amount each month not less than $8 per user of the Product, and the amounts payable to Representative shall be reduced to the extent that the remainder of Net Revenues in any month is less than 50% of total Net Revenues.
