Common use of Recurring Subscription Revenue Clause in Contracts

Recurring Subscription Revenue. Borrower shall maintain at all times until consummation of IPO II, measured quarterly on a trailing three (3) month basis, revenue derived from Subscription Contracts (excluding revenue derived from the sale of Services) of at least the following amounts as set forth in the table below for the corresponding measuring periods; Measuring Period Ending Minimum Recurring Subscription Revenue March 31, 2014 $ 18,514,000 June 30, 2014 $ 19,839,000 September 30, 2014 $ 21,414,000 December 31, 2014 $ 23,068,000 March 31, 2015 $ 24,243,000 June 30, 2015 $ 26,039,000 September 30, 2015 $ 27,971,000 December 31, 2015 $ 30,046,000 March 31, 2016 $ 31,000,000 11. Section 10 of the Agreement is hereby amended and restated by revising the second address for notice Bank to read as follows: with a copy to: Comerica Bank 000 Xxxxxxx Xxxxxx, 00xx Xxxxx Xxxxxx, XX 00000 Attn: Xxxxx X. Xxxxxxx FAX: (000) 000 0000

Recurring Subscription Revenue. Borrower shall maintain at all times until consummation of IPO II, measured quarterly on a trailing three (3) month basis, revenue derived from Subscription Contracts (excluding revenue derived from the sale of Services) of at least the following amounts as set forth in the table below for the corresponding measuring periods; Measuring Period Ending Minimum Recurring Subscription Revenue March 31, 2014 $ 18,514,000 June 30, 2014 $ 19,839,000 September 30, 2014 $ 21,414,000 December 31, 2014 $ 23,068,000 March 31, 2015 $ 24,243,000 June 30, 2015 $ 26,039,000 September 30, 2015 $ 27,971,000 December 31, 2015 $ 30,046,000 March 31, 2016 $ 31,000,000 11. Section 10 of the Agreement is hereby amended and restated by revising the second address for notice Bank to read as follows: with a copy to: Comerica Bank 000 100 Xxxxxxx Xxxxxx, 00xx Xxxxx Xxxxxx, XX 00000 Attn: Xxxxx Gxxxx X. Xxxxxxx FAX: (000) 000 0000