Applicable Minimum Net Revenue Threshold means the minimum Net Revenue amount set forth on Schedule 6.1 attached hereto for such Defined Period.
Applicable Minimum Net Revenue Threshold means (a) for each Defined Period ending on or before [***], the minimum Net Revenue amount set forth on Schedule 6.1 attached hereto for such Defined Period, and (b) for each Defined Period ending after [***], a minimum Net Revenue amount for such Defined Period to be agreed upon, in good faith on or prior to [***] of the year ending prior to the year in which such Defined Period ends, between Borrower and Agent based upon the most recent financial information provided by Borrower to Agent pursuant to Section 4.1 of this Agreement; provided that in no event shall the minimum Net Revenue amount for any such Defined Period be less than [***].
Applicable Minimum Net Revenue Threshold means (a) for each applicable Defined Period ending on or before December 31, 2026, the minimum Net Revenue amount set forth on Schedule 6.1 attached hereto for such Defined Period and (b) for each applicable Defined Period ending after December 31, 2026, a minimum Net Revenue amount determined by Agent in its discretion based on financial statements and projections delivered to Agent in accordance with Section 4.1, which minimum Net Revenue amounts shall be notified to Borrower Representative by Agent in writing on or prior to February 15th of the year in which such Defined Period ends; provided that in no event shall the minimum Net Revenue amount for any applicable Defined Period be less than $10,187,275.”
Examples of Applicable Minimum Net Revenue Threshold in a sentence
Credit Parties shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the Applicable Minimum Net Revenue Threshold for such Defined Period.
Borrower shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the Applicable Minimum Net Revenue Threshold for such Defined Period.
Borrowers shall not permit Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the Applicable Minimum Net Revenue Threshold for such Defined Period.
Commencing with the calendar quarter ending on the later of (a) March 31, 2019 and (b) the last day of the calendar quarter in which the Term Loan Tranche 2 is funded, Borrower shall not permit its consolidated Net Revenue for the Defined Period ending on the last day of such calendar quarter and for each Defined Period ending on the last day of each calendar quarter thereafter to be less than the Applicable Minimum Net Revenue Threshold for such calendar quarter.
Another respondent(1/23), emphasised that directors should not be replaced across the Board since newly engaged directors must acquaint themselves with the company.
More Definitions of Applicable Minimum Net Revenue Threshold
Applicable Minimum Net Revenue Threshold means (i) for each Defined Period ending on or before December 31, 2026, the minimum Net Revenue amount set forth on the Minimum Net Revenue Schedule attached hereto for such Defined Period and (ii) for each Defined Period ending after December 31, 2026, a minimum Net Revenue amount for such Defined Period to be determined by Agent, in good faith on or prior to March 5th of the year in which such Defined Period ends, in consultation with Borrower, based upon the most recent financial information and projections provided by Borrower pursuant to Section 6.2 of this Agreement; provided that in no event shall the minimum Net Revenue amount for any such Defined Period under this clause (ii) be less than an amount equal to the greater of (x) the applicable minimum Net Revenue amount for the immediately preceding date the financial covenant in Section 9.1 was tested, and (y) $33,000,000.
Applicable Minimum Net Revenue Threshold means (a) for each Defined Period ending on or before December 31, 2020, the minimum Net Revenue amount set forth on Schedule 6.1 attached hereto for such Defined Period, and (b) for each Defined Period ending after December 31, 2020, a minimum Net Revenue amount for such Defined Period equal to the greater of (x) eighty percent (84%) of Net Revenue for such Defined Period set forth in the projections delivered by Borrower to Agent and the Lenders in accordance with Section 4.1(g) (which for the avoidance of doubt shall be delivered by Borrower not later than 45 days after the end of the preceding fiscal year) and (y) $50,000,000. MidCap / HTG / Credit and Security Agreement (Term Loan) \\DC - 036639/000001 - 12092479
Applicable Minimum Net Revenue Threshold means the minimum Net Revenue amount set forth on the Minimum Net Revenue Schedule attached hereto for such Defined Period. “Applicable Prepayment Fee”, for each Credit Facility, has the meaning given it in the Credit Facility Schedule for such Credit Facility.
Applicable Minimum Net Revenue Threshold means (a) for each Defined Period ending on or before December 31, 2020, the minimum Net Revenue amount set forth on Schedule 6.1 attached MidCap / HTG / Credit and Security Agreement (Revolving Loan) \\DC - 036639/000001 - 12092487 hereto for such Defined Period, and (b) for each Defined Period ending after December 31, 2020, a minimum Net Revenue amount for such Defined Period equal to the greater of (x) eighty percent (84%) of Net Revenue for such Defined Period set forth in the projections delivered by Borrower to Agent and the Lenders in accordance with Section 4.1(g) (which for the avoidance of doubt shall be delivered by Borrower not later than 45 days after the end of the preceding fiscal year) and (y) $50,000,000.
Applicable Minimum Net Revenue Threshold means (a) for each Defined Period ending on or before December 31, 2020, the minimum Net Revenue amount set forth on Schedule 6.1 attached hereto for such Defined Period, and (b) for each Defined Period ending after December 31, 2020, a minimum Net Revenue amount for such Defined Period equal to the greater of (x) eighty percent (84%) of Net Revenue for such Defined Period set forth in the projections delivered by Borrower to Agent and the Lenders in accordance with Section 4.1(g) (which for the avoidance of doubt shall be delivered by Borrower not later than 45 days after the end of the preceding fiscal year) and (y) $50,000,000.
Applicable Minimum Net Revenue Threshold means (a) for each Defined Period ending on or before December 31, 2020, the minimum Net Revenue amount set forth on Schedule 6.1 attached
Applicable Minimum Net Revenue Threshold means (a) for each Defined Period ending on or before [***], [***], and (b) for each Defined Period ending after [***], a minimum Net Revenue amount for such Defined Period in an amount equal to the greater of (i) [***] percent ([***]%) of the projected Net Revenue for such Defined Period, calculated by Agent, in consultation with Borrower Representative, based on the annual projections delivered to Agent pursuant to Section 4.1 and (ii) [***]. Commencing with the [***] calendar year, Agent shall notify Borrower on or prior to [***] of such calendar year of the applicable Minimum Net Revenue thresholds for each Defined Period occurring in such calendar year. MidCap / Cerus / A&R Credit, Security and Guaranty Agreement (Revolving Loan)