Minimum Net Income definition
Examples of Minimum Net Income in a sentence
Monthly financial statements with Compliance Certificate Monthly within 30 days Yes No Annual financial statement (CPA Audited) FYE within 180 days Yes No 10-Q, 10-K and 8-K Within 5 days after filing with SEC Yes No Board-approved Projections First Business Day of month following Board approval, but at least annually Yes No Maintain at all times (tested monthly on a consolidated basis): Minimum EBITDA * $ Yes No Minimum Net Income ** $ Yes No * As set forth in Section 6.11(a) of the Agreement.
Section 6.18 of the Credit Agreement is ------------------------- amended in its entirety to read as follows: Monthly Minimum Net Income.
Permit the aggregate Net Income to be less than the Minimum Net Income Requirement (SCHEDULE SECTION 6.3.B.).
The Borrower will maintain, during each period described below, its Net Income, determined as at the end of each quarter, at an amount not less than the amount set forth opposite such period (numbers appearing between “( )” are negative): Period Minimum Net Income Six months ending June 30, 2002 ($1,049,000) Nine months ending Sept.
Monthly within 20 days Yes No A/R Audit Initial and Semi-Annual Yes No Annual Projections Upon Request Yes No Total amount of Borrower’s cash and investments maintained with Bank and Bank Affiliates All cash and investments other than the Permitted Foreign Accounts Yes No Measured on a Monthly Basis: Minimum Adjusted Quick Ratio 1.10:1.00 ______:1.00 Yes No Measured on a Quarterly Basis: Minimum Net Income See attached chart $ _________ Yes No Comments Regarding Exceptions: See Attached.
Quarterly Net Income of not less than the following: Measuring Period Minimum Net Income Quarter Ending 3/31/09 ($1,750,000 ) Quarter Ending 6/30/09 ($1,150,000 ) Quarter Ending 9/30/09 ($475,000 ) Quarter Ending 12/31/09 $250,000 Bank and Borrower shall mutually agree upon Quarterly Net Income levels for 2010 on or prior to December 31, 2009.
The Target Growth Rate is 20%; and the Minimum Net Income is the amount calculated on the same basis as the Target Net Income except that the Minimum Growth Rate is substituted for the Target Growth Rate.
Measured on a Monthly Basis: Minimum Adjusted Quick Ratio 1.25:1.00 _____:1.00 Yes No Measured on a Quarterly Basis: Minimum Net Income See attached chart $______ Yes No Comments Regarding Exceptions: See Attached.
The Borrower is in default under Section 6.12 Minimum Net Income and Section 6.13 Minimum Book Net Worth as of March 31, 2003 and through August 31, 2003 (the “Existing Defaults”).
The Borrower shall achieve Minimum Net Income, beginning in January of 1998, in accordance with covenant amounts established by the Lender, in its sole discretion, based upon the Borrower's projections to be delivered in accordance with Section 6.1(f) herein.