Net Revenue. As used in this Warrant Agreement, the term "Net Revenue" shall mean the total ticket revenue received by the Company from tickets sold for travel on the Warrant Holder and its Code Share Partners, net of federal excise and segment taxes, passenger facility charges and related fees. The parties acknowledge that credit card processing fees, and any processing fees or similar fees charged by the Company to the consumer in connection with the sale of a ticket shall not be included in the calculation of Net Revenue. Attached hereto as Exhibit D is an example of the calculation of Net Revenue.
Net Revenue. “Net Revenue” means the total revenue for season passes, gate sales, and all rentals, less applicable sales tax. Net Revenue shall not include concessions sales.
Net Revenue. Section 5.11 shall be deleted in its entirety and replaced with the following in lieu thereof:
Net Revenue. Maintain at all times, aggregate Net Revenue, as determined in accordance with GAAP:
(i) to be tested as of the last day of each calendar quarter, for the three (3) month period ending on such date of at least (i) Ten Million Four Hundred Forty Thousand Dollars ($10,440,000.00) for the calendar quarter ending March 31, 2020, (ii) Twenty Million Nine Hundred Seventy Thousand Dollars ($20,970,000.00) for the calendar quarter ending June 30, 2020, (iii) Eighteen Million Three Hundred Sixty Thousand Dollars ($18,360,000.00) for the calendar quarter ending September 30, 2020 and (iv) Thirty One Million Four Hundred Ten Thousand Dollars ($31,410,000.00) for the calendar quarter ending December 31, 2020;
(ii) to be tested as of the last day of each calendar quarter, for the six (6) month period ending on such date of at least (i) Forty Eight Million Dollars ($48,000,000.00) for the six (6) month period ending March 31, 2021, (ii) Forty Two Million Five Hundred Thousand Dollars ($42,500,000.00) for the six (6) month period ending June 30, 2021, (iii) Sixty Seven Million Dollars ($67,000,000.00) for the six (6) month period ending September 30, 2021 and (iv) Eighty Five Million Dollars ($85,000,000.00) for the six (6) month period ending December 31, 2021;
(iii) to be tested as of the last day of each calendar quarter, for such quarter of at least (A) Twelve Million Dollars ($12,000,000.00) for the calendar quarter ending June 30, 2022, (B) Nine Million Dollars ($9,000,000.00) for the calendar quarter ending September 30, 2022 and (C) Thirteen Million Dollars ($13,000,000.00) for the calendar quarter ending December 31, 2022; and
(iv) to be tested as of the last day of the calendar year ending December 31, 2023, for such calendar year, of at least Fifty Million Dollars ($50,000,000.00). With respect to any period ending after December 31, 2023, the Net Revenue level for each such period shall be mutually agreed by Bank and Borrower, each acting in its reasonable discretion, based upon, among other factors, budgets, sales projections, operating plans and other financial information with respect to Borrower that Bank deems relevant, including, without limitation Borrower’s annual financial projections approved by the Board. With respect thereto:
(A) Xxxxxxxx’s failure to agree in writing (which agreement shall be set forth in a written amendment to this Agreement) on or before February 28, 2024 to any such covenant levels proposed by Bank with respect to the 2024 cal...
Net Revenue. Maintain at all times, to be tested as of the last day of each calendar quarter, aggregate Net Revenue, as determined in accordance with GAAP:
(i) for the three (3) month period ending on such date of at least (i) Ten Million Four Hundred Forty Thousand Dollars ($10,440,000.00) for the calendar quarter ending March 31, 2020, (ii) Twenty Million Nine Hundred Seventy Thousand Dollars ($20,970,000.00) for the calendar quarter ending June 30, 2020, (iii) Eighteen Million Three Hundred Sixty Thousand Dollars ($18,360,000.00) for the calendar quarter ending September 30, 2020 and (iv) Thirty One Million Four Hundred Ten Thousand Dollars ($31,410,000.00) for the calendar quarter ending December 31, 2020;
(ii) for the six (6) month period ending on such date of at least (i) Forty Eight Million Dollars ($48,000,000.00) for the six (6) month period ending March 31, 2021, (ii) Forty Two Million Five Hundred Thousand Dollars ($42,500,000.00) for the six (6) month period ending June 30, 2021, (iii) Sixty Seven Million Dollars ($67,000,000.00) for the six (6) month period ending September 30, 2021 and (iv) Eighty Five Million Dollars ($85,000,000.00) for the six (6) month period ending December 31, 2021. With respect to any period ending after December 31, 2021, the Net Revenue level for each such period shall be mutually agreed by Bank and Borrower, each acting in its reasonable discretion, based upon, among other factors, budgets, sales projections, operating plans and other financial information with respect to Borrower that Bank deems relevant, including, without limitation Borrower’s annual financial projections approved by the Board. With respect thereto, Xxxxxxxx’s failure to agree in writing (which agreement shall be set forth in a written amendment to this Agreement) on or before March 15, 2022 to any such covenant levels proposed by Bank with respect to the 2022 calendar year shall result in an immediate Event of Default for which there shall be no grace or cure period.
Net Revenue gross revenue of Animas Group on a consolidated basis (excluding all revenue from Sub-licensees) from the sale of Debiotech Micro-Needle Products to distributors and end-users minus contractual allowances and discounts, as calculated in accordance with US Generally Accepted Accounting Principles, as such principles are in effect at that time, and as recognized in accordance with Animas’ standard accounting practices in effect for the relevant period, consistently applied ( “GAAP”).
Net Revenue. Net Revenue" means the amount collected by SPRT for ----------- SPRT's sale of licenses to the Product Extension to Referred Customers, [***]
Net Revenue. The Bottler shall use its Reasonable Endeavours to achieve the Net Revenue percentage growth rates of the Beverages each year.
Net Revenue. All revenue received in connection with Licensed Products created by or on behalf of Licensee or its sublicensees less: (a) Chargebacks (as defined below) incurred by Licensee; (b) freight, taxes, insurance, duties, customs and brokerage fees incurred by Licensee; and (c) in the case of sublicenseing, agency fees, IP registration and protection and enforcement costs. “Chargebacks” are defined as price protections, returns, co-op, MDF and other customary deductions and discounts, taken or granted by Licensee to its customers specifically in connection with Licensed Products created by or on behalf of Licensee or its sublicensees, plus, except with respect to sublicensing revenue, an additional three percent (3%) of gross receipts deducted in order to reflect retailer-level deductions taken for early payment, volume discounts, and similar items, but excluding marketing expenses.
Net Revenue. For purposes of this Agreement, “Net Revenue” shall mean all amounts of consideration collected by the Company, any successor in interest to the Company or their respective affiliates, less refunds, credits, returns, shipping, distributor and sales fee and sales taxes, if any, associated therewith.
