Investment Performance. The company shall review the performance of the selected investment-banking group on quarterly basis. The investment banks will issue separate quarterly investment performance analysis using time-weighted measures. The net income derived from investments for the last four fiscal quarters combined may not exceed twice the amount of the company’s research and development expenses for the same period. Expenses for investment advisory and management activities, investment research and custody for the last four fiscal quarters combined may not exceed five percent of the company’s total expenses for the same period.
Appears in 2 contracts
Sources: Loan and Security Agreement (Xenogen Corp), Loan and Security Agreement (Xenogen Corp)