Common use of Profitability Clause in Contracts

Profitability. Borrower shall be profitable for each fiscal quarter, except Borrower may suffer a loss of up to $200,000 in the fourth fiscal quarter of the 1998 fiscal year and a loss of up to $1,000,000 in the first fiscal quarter of the 1999 fiscal year.

Appears in 4 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement, Loan and Security Agreement (Harmonic Lightwaves Inc)

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Profitability. Borrower shall be profitable for each fiscal quarter, except Borrower may suffer a loss for the fiscal ------------- quarter ending September 30, 1996, in an amount not to exceed Three Hundred Thousand Dollars ($300,000). Borrower shall have a minimum net profit of up to One Dollar ($200,000 in the fourth 1.00) for each fiscal quarter of the 1998 fiscal year and a loss of up to $1,000,000 in the first fiscal quarter of the 1999 fiscal yearthereafter.

Appears in 2 contracts

Samples: Loan and Security Agreement (Jetfax Inc), Loan and Security Agreement (Jetfax Inc)

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