Recurring Monthly Revenue or “RMR” means an amount equal to the gross recurring monthly revenue of the Loan Parties that is billed to customers on a monthly basis (regardless of whether any particular customer is billed monthly, quarterly, annually or otherwise) arising from Monitoring Contracts and agreements to provide wholesale monitoring services, but net of any monthly discounts afforded the customer (e.g. for prepayment or for paying by ACH or EFT) other than service credits granted from time to time in the ordinary course of the Loan Parties’ businesses.
Recurring Monthly Revenue means, the contractually obligated recurring payments per month (net of third-party pass-through charges, assessments of taxes and net of any customer discounts) then being received by the Issuers or any Restricted Subsidiaries, measured as of the last day of the most recently ended fiscal month period for which internal financial statements are available.
Recurring Monthly Revenue or "RMR" means, for any calendar month, the aggregate recurring regular monthly amount billed under Customer Contracts for a one-month period (regardless of whether billed monthly or less frequently with xxxxxxxx made other than on a monthly basis being adjusted to the equivalent monthly amount) for electrical protection, monitoring, maintenance, closed circuit television and access control service charges, fire and police panel charges, equipment lease rental charges relating to Customer Contracts derived from the Direct Marketing Program, the Dealer Program and fire and sprinkler inspection and testing charges (but excluding revenues from any Customer Contracts relating to any non-recurring, special or other one-time charges) as such RMR is calculated by Borrower in accordance with the practices, policies and procedures followed by Borrower therefor on April 15, 1997 as set forth in the Price Waterhouse Report and reflected in the RMR Report.
Examples of Recurring Monthly Revenue in a sentence
As used herein "Delinquent Recurring Monthly Revenue" means MRR under contracts with customers that are overdue in payment as follows: residential and personal accounts, more than ninety (90) days past due; commercial accounts, more than one hundred twenty (120) days past due; and municipal, hospital and school system accounts, more than one hundred fifty (150) days past due.
Borrowers shall not allow Delinquent Recurring Monthly Revenue to be more than six percent (6%) of MRR at any time.
Borrowers shall give prompt written notice to Lender of any litigation pending, threatened or affecting any Borrower which involves in any such case more than (i) $25,000 or (ii) Recurring Monthly Revenue of $5,000 or more.
The Purchase Price and each element thereof shall be adjusted upward, pro rata, based upon the actual Wholesale and Retail Recurring Monthly Revenue of the contracts which are transferred to Buyer at Closing.
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More Definitions of Recurring Monthly Revenue
Recurring Monthly Revenue means at any date of determination, the total recurring amounts from Security Alarm Contracts purchased from Approved Alarm Dealers under Approved Alarm Purchase Agreements, billed to customers of the Company or any of its Subsidiaries for a one-month period (regardless of whether billed monthly or less frequently) and/or otherwise collected under such Security Alarm contracts, and measured for customers with installed alarm systems by the amount most recently billed to such customer for a one-month period and who have paid within ninety (90) days from due date the amount called for under their respective customer contracts, and only for customers which are subscribers under duly executed Security Alarm Contracts. RMR will not include wholesale monitoring services or other services not directly related to security monitoring.
Recurring Monthly Revenue means revenue received from at least three (3) orders placed with the Company during the Contract Term or any Renewal Term.
Recurring Monthly Revenue or "RMR" means, for any calendar month, the aggregate recurring regular monthly amount billed under Customer Contracts for a one-month period (regardless of whether billed monthly or less frequently with xxxxxxxx made other than on a monthly basis being adjusted to the equivalent monthly amount) for electrical protection, monitoring, maintenance, closed circuit television and access control service charges, fire and police panel charges, equipment lease rental charges relating to Customer Contracts derived from the Direct Marketing Program and fire testing charges (but excluding revenues from any Customer Contracts relating to any non- recurring, special or other one-time charges) as such RMR is calculated by Borrower in accordance with the practices, policies and procedures followed by Borrower therefor on the Closing Date as set forth in the Price Waterhouse Report and reflected in the RMR Report.
Recurring Monthly Revenue. ("RMR") means the sum of monthly recurring revenue to be derived by the Company from all Alarm Accounts and Wholesale Alarm Accounts in service as of the Closing Date. RMR shall only include those sums derived from Alarm Accounts and Wholesale Alarm Accounts that are: (i) provided Alarm Services pursuant to Subscriber Contracts on the Company's standard written contract forms to which there have been no material alterations as to any customer, or on Customer Purchase Orders or on Modified Agreements which, collectively, do not represent more than 5% of the total Closing RMR (the "RMR Basket"); (ii) provided Alarm Services pursuant to Subscriber Contracts which do not
Recurring Monthly Revenue or "RMR" shall mean the total amount payable each month by a Customer for monitoring services pursuant
Recurring Monthly Revenue the total recurring monthly amount of alarm service revenue billed by or on behalf of the Borrower or a Subsidiary to customers for alarm services in connection with Recurring Security Services Contracts owned by the Borrower or such Subsidiary and which are in full force and effect. Monthly amounts shall include charges for monitoring services, maintenance, inspection services and leased equipment. Quarterly, semi-annual and annual xxxxxxxx shall be divided by three, six and twelve, respectively, to determine the monthly amount. Recurring Monthly Revenue shall not include any amounts derived from (i) reimbursement or prepayment of telephone lines, radio transmission facilities, and other utility company charges associated directly with the installation, monitoring, maintenance or furnishing of alarm services; (ii) reimbursement for or prepayment of any false alarm assessments; (iii) reimbursement for or prepayment of any amounts equal to taxes (other than income taxes), fees or other charges which may be payable to any governmental authority or public utility relative to the furnishing of alarm services; (iv) non-recurring non-regular services incurred by a customer; (v) monitoring services provided under any contract for which the Borrower's or Subsidiary's customer is in arrears in payment for a period in excess of ninety (90) days after the last date for which services were provided and billed; and (vi) contracts which have not yet been "cut in". For purposes of this Agreement, the term "cut in" shall mean the first date on which an alarm system at a customer's premises is on line to the central station or operational.
Recurring Monthly Revenue shall be defined as total monthly operating revenue less net equipment sales revenue as set forth in the summary billing by price code generated by the Page One in its ordinary course. For purpose of calculating the Purchase Price, the Page One's accounts receivable shall be valued as follows: The following formula will be used to determine the payoff on each customer account on Page One's accounts receivable aging at Closing. Page One will give Purchaser a list of every account written off between July 1, 1995 and Closing. The accounts receivable balance at Closing should not include the current month's billing as the Closing shall take place on the first day of a month (e.g. if the transaction anticipated hereby closes January 2, the accounts receivable aging should be run before the January billing).