Condition 3 definition

Condition 3 means the Company achieving not less than 1 million US Dollar in after-tax profits, as determined under US GAAP, for the fiscal year ending December 31, 2010.

Condition 3 means the Company and its subsidiaries achieving not less than 80% of US$10 million in after-tax net income as determined under US GAAP, for the six months period from January 1, 2011 ended June 30, 2011.

Condition 3 means the Companies and their subsidiaries achieving not less than after tax net income of US$ 3 million as determined under US GAAP for the fiscal year ended December 31, 2011.

Examples of Condition 3 in a sentence

• Where a notice is being delivered in accordance with Condition 3 (Early Redemption if there is an Early Preference Share Redemption Event), such notice shall specify the relevant Early Preference Share Valuation Date.

• Condition 3 is included to ensure that the Ministry records are kept accurate and current with respect to approved works and to ensure that subsequent owners of the works are made aware of the certificate and continue to operate the works in compliance with it.

• If the Issuer determines that the Preference Shares shall be redeemed, then all (but not some only) of the Preference Shares shall be redeemed in accordance with Condition 3 (Early Redemption if there is an Early Preference Share Redemption Event).

• If the Issuer determines that the relevant Preference Shares shall be redeemed, then all (but not some only) of the Preference Shares shall be redeemed in accordance with Condition 3 (Early Redemption if there is an Early Preference Share Redemption Event).

• The Notes and any relative Coupons are direct, unconditional, unsubordinated and (subject to the provisions of Condition 3) unsecured obligations of the Issuer and rank pari passu among themselves and (save for certain obligations required to be preferred by law) equally with all other unsecured obligations (other than subordinated obligations, if any) of the Issuer, from time to time outstanding.

More Definitions of Condition 3

Condition 3 means FUYI achieving not less than $3,000,000 in after-tax profits, as determined under US GAAP for any consecutive 12 months during the period from April 1, 2012 through March 31, 2014.

Condition 3 means the total gross revenue of Telstar and its subsidiaries for the fiscal year ended December 31, 2011 is not less than $7,000,000, as determined under US GAAP.

Condition 3 means the Company filing with the SEC its annual report on Form 10-K for the fiscal year ended May 31, 2010.

Condition 3 means in respect of a Component, CNYmat fixes above the relevant EKI, subject to the Target Redemption Feature and Conditions.

Condition 3 means Armco and its Subsidiaries achieving not less than $5,000,000 in pre-tax profits, as determined under United States Generally Accepted Accounting Principles consistently applied (“US GAAP”) for the calendar year ending December 31, 2008.

Condition 3 means the following operating procedures have been fully complied with: information with respect to funds from the SRSF has been disclosed on the DPWH’s website and on the Philippines Government Electronic Procurement System and updated at least quarterly; allocation and expenditures of motor vehicle user charge funds; information relating to the bidding, award and execution of all contracts for the preventive maintenance program; contracts for the preventive maintenance program to be financed by the funds from the SRSF have been procured in accordance with the procedures applicable to foreign assisted projects set forth in the Borrower’s Generic Procurement Manual as used together with harmonized Philippines Bidding Documents; and all funds from the SRSF for preventive road maintenance and general road maintenance have been accounted for through DPWH e-NGAS or NGAS accounting system.

Condition 3 means TechTeam achieving not less than $7,500,000 in pre-tax profits, as determined under United States Generally Accepted Accounting Principles consistently applied (“US GAAP”) for the fiscal year ending June 30, 2008.