Cash Velocity. Collections of Borrower’s Accounts shall not be less than $3,750,000 for each calendar month during the Term; provided, that upon any violation of or failure to comply with this covenant Lender shall have the right, in its sole discretion, to consider for all purposes under the Agreement as though Borrower actually collected Accounts equal to such minimum required amount.
Cash Velocity. Collections of Borrower’s Accounts shall not be less than the amount set forth below for each calendar month during the Term; provided, that upon any violation of or failure to comply with this covenant Lender shall have the right, in its sole discretion, to consider for all purposes under the Agreement as though Borrower actually collected Accounts equal to such minimum required amount. Calendar Month Ending Cash Velocity May 31, 2004 $3,800,000 June 30, 2004 through July 31, 2004 $4,600,000 August 31, 2004 through September 30, 2004 $7,500,000 October 31, 2004 through December 31, 2004 $9,000,000 January 31, 2005 through June 30, 2005 $12,000,000 July 31, 2005 through December 31, 2005 $14,000,000 January 31, 2006 through December 31, 2006 $16,000,000 January 31, 2007 and thereafter $17,500,000
Cash Velocity. A. Net revenue for the three calendar month period commencing the first day of the calendar month of the second month immediately preceding the first month of the current Test Period less the bad debt expense recognized on the income statement for such three calendar month period $___________
Cash Velocity. Collections of Borrower's Accounts (including capitated collections) shall not be less than $6,000,000 for each calendar month during the Term commencing January 1, 2003; provided, that upon any violation of or failure to comply with this covenant Lender shall have the right, in its sole discretion, to consider for all purposes under the Agreement as though Borrower actually collected Accounts equal to such minimum required amount.
Cash Velocity. Average monthly collections of Accounts for each three calendar month period (commencing with the period ending September 30, 2003) shall not be less than the average daily outstanding amount hereunder for such period (i.e., the average daily Letter of Credit Reserve plus the amount of any outstanding Loans); provided, that, in addition to all other rights and remedies, Collateral Agent shall have the right, in its sole discretion, to consider for all purposes under this Agreement as though Borrowers actually collected Accounts equal to such minimum required amount.
Cash Velocity. Borrower shall maintain, as of the end of each calendar month, minimum “Cash Velocity” (as defined below) of 0.90/1.00. The term “Cash Velocity” shall mean, of the end of any calendar month (the “Testing Month”), that percentage obtained by dividing (i) the actual amount collected on Accounts other than collections of “Miscellaneous Receivables” (as such term is used in Borrower’s financial statements) for the three calendar months ending with the last day of Testing Month by (ii) the amount of Accounts that first became Accounts in the three calendar months ending with the end of the calendar month that precedes the Testing Month by three calendar months (less any write-offs of Accounts in the three calendar months ending with the calendar month immediately preceding the Testing Month).
Cash Velocity. Collections of Borrowers' Accounts as of the last day of each month, for the three (3) calendar month period then ending, shall not be less than (A) eighty-five percent (85%), at any time prior to the first anniversary hereof, and (B) ninety percent (90%), at any time on or after the first anniversary hereof, of collections from Borrowers' Retail Accounts and KISSLD Accounts for the three (3) calendar month period immediately prior to the three (3) calendar month period being tested; provided, that the cash velocity test shall be conducted on a monthly basis; and provided further, that upon any violation of or failure to comply with this covenant Agent shall have the right, in its Permitted Discretion, to consider for all purposes under this Agreement as though Borrowers actually collected Retail Accounts and KISSLD Accounts equal to such minimum required amount.
Cash Velocity. Collections of Borrower’s Accounts shall not be less than $11,500,000 for each calendar month from February 2005 through April 2005, $13,000,000 for each calendar month from May 2005 through July 2005, $14,000,000 for each calendar month from August 2005 through October 2005, and $15,000,000 for each calendar month thereafter during the Term; provided, that upon any violation of or failure to comply with this covenant Lender shall have the right, in its sole discretion, to consider for all purposes under the Agreement as though Borrower actually collected Accounts equal to such minimum required amount.
Cash Velocity. Consolidated Entities shall not permit, as of the last day of each month, commencing October 31, 2020, the Collections arising from the business operations of Consolidated Entities, calculated for the Net Revenue Test Period then ended, to be less than seventy-seven and one half percent (77.5%) of the Net Revenue, for such Net Revenue Test Period as reflected on Consolidated Entities financial statements for such Test Period.
Cash Velocity. Collections of Borrower’s Accounts (which shall not include CIGNA Receipts for purposes of this covenant) for each Test Period shall not be less than the amount set forth below for each Test Period during the Term; provided, that upon any violation of or failure to comply with this covenant Lender shall have the right, in its sole discretion, to consider for all purposes under the Agreement as though Borrower actually collected Accounts equal to such minimum required amount. Test Period Ending Cash Velocity August 31, 2006 $10,500,000 September 30, 2006 $9,500,000 October 31, 2006 $9,500,000 November 30, 2006 $9,300,000 December 31, 2006 $9,100,000 January 31, 2007 $9,400,000 February 28, 2007 $10,200,000 March 31, 2007 $11,000,000 April 30, 2007 $11,600,000 May 31, 2007 $12,000,000 June 30, 2007 $12,400,000 July 31, 2007 $13,000,000 August 31, 2007 $13,600,000 September 30, 2007 $14,100,000 October 31, 2007 $14,300,000 November 30, 2007 $14,500,000 December 31, 2007 $14,700,000 January 31, 2008 and thereafter $15,200,000
