Maximum Cumulative EBITDA Loss. Borrower’s EBITDA loss, measured on a cumulative year-to-date basis as of the last day of each fiscal quarter, shall not exceed: Fiscal Quarter Maximum Cumulative EBITDA Loss First Quarter 2015 ($ 4,000,000 ) Q1 and Q2 2015 ($ 8,350,000 ) Q1, Q2 and Q3 2015 ($ 12,000,000 ) Fiscal Year 2015 ($ 14,000,000 ) First Quarter 2016 and thereafter to be determined by Bank based on receipt of Borrower’s projections in accordance with Section 6.2.
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Samples: Mezzanine Loan and Security Agreement (Xactly Corp), Loan and Security Agreement (Xactly Corp)
Maximum Cumulative EBITDA Loss. Borrower’s EBITDA loss, measured on a cumulative year-to-date basis as of the last day of each fiscal quarter, shall not exceed: Fiscal Quarter Maximum Cumulative EBITDA Loss First Quarter 2015 2014 ($ 4,000,000 ) Q1 and Q2 2015 2014 ($ 8,350,000 ) Q1, Q2 and Q3 2015 2014 ($ 12,000,000 ) Fiscal Year 2015 2014 ($ 14,000,000 ) First Quarter 2016 2015 and thereafter to be determined by Bank based on receipt of Borrower’s projections in accordance with Section 6.2.
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Maximum Cumulative EBITDA Loss. Borrower’s EBITDA loss, measured on a cumulative year-to-date basis as of the last day of each fiscal quarter, shall not exceed: Fiscal Quarter Maximum Cumulative EBITDA Loss First Quarter 2015 2014 ($ 4,000,000 3,300,000 ) Q1 and Q2 2015 2014 ($ 8,350,000 6,050,000 ) Q1, Q2 and Q3 2015 2014 ($ 12,000,000 7,750,000 ) Fiscal Year 2015 2014 ($ 14,000,000 9,000,000 ) First Quarter 2016 2015 and thereafter to be determined by Bank based on receipt of Borrower’s projections in accordance with Section 6.2.
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