Common use of Maximum Loss Clause in Contracts

Maximum Loss. a Maximum Loss, tested on a trailing three (3) month period, of not greater than ($1,500,000) commencing with the trailing three (3) month period ending November 30, 2011 and on the last day of each month thereafter through September 30, 2012. Commencing with the month ending October 31, 2012, the required amount of Borrower’s Maximum Loss is subject to change based on Borrower’s annual financial projections approved by Borrower’s Board of Directors for the June 30, 2013 fiscal year end (the “2013 Maximum Loss Covenant”). Borrower’s failure to reach an agreement with Bank on the 2013 Maximum Loss Covenant and to execute and deliver to Bank an amendment to this Agreement, shall constitute an immediate Event of Default under this Agreement.

Maximum Loss. a A Maximum Loss, tested on a trailing three (3) month period, of not greater than ($1,500,000) commencing with the trailing three (3) month period ending November 30October 31, 2011 2012 and on the last day of each month thereafter through September June 30, 20122013. Commencing with the month ending October July 31, 20122013, the required amount of Borrower’s Maximum Loss is subject to change based on Borrower’s annual financial projections approved by Borrower’s Board of Directors for the June 30, 2013 2014 fiscal year end (the “2013 2014 Maximum Loss Covenant”). Borrower’s failure to reach an agreement with Bank on the 2013 2014 Maximum Loss Covenant and to execute and deliver to Bank an amendment to this Agreement, shall constitute an immediate Event of Default under this Agreement.