Revenue Base Clause Samples
The Revenue Base clause defines the specific sources or categories of revenue that will be used as the foundation for calculating payments, royalties, or other financial obligations under an agreement. In practice, this clause clarifies which types of income—such as gross sales, net sales, or other revenue streams—are included or excluded from the calculation, and may outline adjustments for returns, discounts, or taxes. Its core function is to ensure both parties have a clear and mutual understanding of what constitutes the revenue base, thereby preventing disputes and ensuring accurate financial settlements.
Revenue Base. Solely as a condition precedent to the First Delayed Draw Closing Date and the Second Delayed Draw Closing Date, as the case may be, the Administrative Agent and the Lenders shall be satisfied that the Revenue Base for the most recently ended Test Period prior to such Delayed Draw Closing Date was at least $300,000,000.
Revenue Base. The Lender shall be satisfied that the Revenue Base for the six full calendar months immediately prior to the Delayed Draw Closing Date was at least $7,500,000.
Revenue Base. (a) The Lender shall be satisfied that the Revenue Base for the twelve full calendar month period ended most recently prior to the Tranche A Delayed Draw Closing Date was at least $12,000,000; provided however, that the Revenue Base with respect to sales of Products in the United States for such twelve full calendar month period ended most recently prior to the Tranche A Delayed Draw Closing Date was at least $7,000,000; provided further that in no event shall such twelve calendar month period include the month in which the Tranche A Delayed Draw Closing Date occurs.
(b) The Lender shall be satisfied that the Revenue Base for the twelve full calendar month period ended most recently prior to the Tranche B Delayed Draw Closing Date was at least $12,000,000; provided however, that the Revenue Base with respect to sales of Products in the United States for such twelve full calendar month period ended most recently prior to the Tranche B Delayed Draw Closing Date was at least $9,500,000; provided further that in no event shall such twelve calendar month period include the month in which the Tranche B Delayed Draw Closing Date occurs.
(c) The Lender shall be satisfied that the Revenue Base for the twelve full calendar month period ended most recently prior to the Tranche C Delayed Draw Closing Date was at least $20,000,000; provided that in no event shall such twelve calendar month period include the month in which the Tranche C Delayed Draw Closing Date occurs.
Revenue Base. The Lender shall be satisfied in its reasonable discretion that the Revenue Base for the twelve full calendar months prior to the Delayed Draw Closing Date was at least $25,000,000.
Revenue Base. At all times, the Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the most recently ended period of twelve consecutive months, shall not be less than €115,000,000.
Revenue Base. (a) Solely as a condition to the First Delayed Draw Closing Date, the Administrative Agent and the Lenders shall be satisfied that Revenue Base for the trailing 12-months ending on the last day of the month immediately prior to the First Delayed Draw Closing Date was at least $[***].
(b) Solely as a condition to the Second Delayed Draw Closing Date, the Administrative Agent and the Lenders shall be satisfied that Revenue Base for the trailing 12-months ending on the last day of the month immediately prior to the Second Delayed Draw Closing Date was at least $[***].
Revenue Base. (i) At all times (x) on or prior to June 30, 2020 and (y) after January 1, 2023, the Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the most recently ended period of twelve consecutive months, shall not be less than €115,000,000.
(ii) At all times from January 1, 2021 through and including December 31, 2022 (except with respect to the Fiscal Quarters ending March 31, 2022 and June 30, 2022, for each of which there shall be no separate quarterly Revenue Base requirement, subject to subclauses (i) above and (iii) below), the Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the most recently ended quarterly period, shall not be less than the amount set forth below opposite the period during which such quarterly period ends: March 31, 2021 €14,000,000 June 30, 2021 €13,500,000 September 30, 2021 €16,000,000 December 31, 2021 €20,500,000 March 31, 2022 Not applicable June 30, 2022 Not applicable September 30, 2022 €27,500,000 December 31, 2022 €28,750,000
(iii) The Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the six-month period ending June 30, 2022, shall not be less than €47,500,000.
Revenue Base. (i) At all times (x) on or prior to June 30, 2020 and (y) after January 1, 2023, the Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the most recently ended period of twelve consecutive months, shall not be less than €115,000,000.
(ii) At all times from January 1, 2021 through and including December 31, 2022, the Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the most recently ended quarterly period, shall not be less than the amount set forth below opposite the period during which such quarterly period ends: March 31, 2021 € 14,000,000 June 30, 2021 € 13,500,000 September 30, 2021 € 16,000,000 December 31,2001 € 20,500,000 March 31, 2022 € 22,500,000 June 30, 202 € 25,000,000 September 30, 2022 € 27,500,000 December 31, 2022 € 28,750,000
Revenue Base. At all times (i) on or prior to June 30, 2020 and (ii) on and after January 1, 2021, the Revenue Base of Holdings, the Borrower and its Subsidiaries, on a consolidated basis, for the most recently ended period of twelve consecutive months, shall not be less than €115,000,000.”
Revenue Base. The Lender shall be satisfied that the Revenue Base for the three full calendar months prior to the Delayed Draw Closing Date was at least $12,500,000 and the Revenue Base for the six full calendar months prior to the Delayed Draw Closing Date was at least $25,000,000.