Common use of Minimum Adjusted EBITDA Clause in Contracts

Minimum Adjusted EBITDA. As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Adjusted EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): Applicable Amount Applicable Period $(1,234,000) For the 3 month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter

Appears in 2 contracts

Samples: Credit Agreement, Consent and Partial Release Agreement (Bell Industries Inc /New/), Bell Industries Inc /New/

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Minimum Adjusted EBITDA. As of any date of determination from Borrowers’ and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve their Subsidiaries’ Adjusted EBITDA, measured on a quartermonth-end basis, of at least for the required amount [__] month period ending _________, 201__ is $___________, which [does/does not] satisfy the minimum Adjusted EBITDA requirement set forth in Section 8 of the following table Credit Agreement (and copied below) for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): corresponding period. Applicable Amount Applicable Period $(1,234,000) 6,000,000 For the 3 12-month period ending February 28, 2015 $6,000,000 For the 12-month period ending March 31, 2008 2015 $(1,246,000) 6,000,000 For the 6 12-month period ending April 30, 2015 $6,000,000 For the 12-month period ending May 31, 2015 $6,000,000 For the 12-month period ending June 30, 2008 2015 $(200,000) 6,000,000 For the 9 12-month period ending July 31, 2015 $6,000,000 For the 12-month period ending August 31, 2015 $6,000,000 For the 12-month period ending September 30, 2008 2015 $(839,000) 6,000,000 For the 12 12-month period ending October 31, 2015 $7,000,000 For the 12-month period ending November 30, 2015 $9,000,000 For the 12-month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter2015

Appears in 1 contract

Samples: Credit and Security Agreement (StarTek, Inc.)

Minimum Adjusted EBITDA. As of any date of determination from Borrowers’ and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve their Subsidiaries’ Adjusted EBITDA, measured on a quartermonth-end basis, of at least for the required amount [__] month period ending _________, 201__ is $___________, which [does/does not] satisfy the minimum Adjusted EBITDA requirement set forth in Section 8 of the following table Credit Agreement (and copied below) for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): corresponding period. Applicable Amount Applicable Period $(1,234,000) 6,000,000 For the 3 12-month period ending May 31, 2014 $6,000,000 For the 12-month period ending June 30, 2014 $7,000,000 For the 12-month period ending July 31, 2014 $7,000,000 For the 12-month period ending August 31, 2014 $7,000,000 For the 12-month period ending September 30, 2014 $7,000,000 For the 12-month period ending October 31, 2014 $7,000,000 For the 12-month period ending November 30, 2014 $8,000,000 For the 12-month period ending December 31, 2014 $8,000,000 For the 12-month period ending January 31, 2015 $9,000,000 For the 12-month period ending February 28, 2015 $10,000,000 For the 12-month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter2015

Appears in 1 contract

Samples: Credit and Security Agreement (StarTek, Inc.)

Minimum Adjusted EBITDA. As of any date of determination from Borrowers’ and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve their Subsidiaries’ Adjusted EBITDA, measured on a quartermonth-end basis, of at least for the required amount [__] month period ending _________, 201__ is $___________, which [does/does not] satisfy the minimum Adjusted EBITDA requirement set forth in Section 8 of the following table Credit Agreement (and copied below) for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): corresponding period. Applicable Amount Applicable Period $(1,234,000) 5,000,000 For the 3 12-month period ending March 31, 2008 2014 $(1,246,000) 5,000,000 For the 6 12-month period ending April 30, 2014 $4,000,000 For the 12-month period ending May 31, 2014 $3,000,000 For the 12-month period ending June 30, 2008 2014 $(200,000) 3,000,000 For the 9 12-month period ending July 31, 2014 $1,500,000 For the 12-month period ending August 31, 2014 $2,000,000 For the 12-month period ending September 30, 2008 2014 $(839,000) 2,000,000 For the 12 12-month period ending October 31, 2014 $2,000,000 For the 12-month period ending November 30, 2014 $4,000,000 For the 12-month period ending December 31, 2008 2014 $(750,000) 4,000,000 For the 12 12-month period ending January 31, 2015 $4,000,000 For the 12-month period ending February 28, 2015 $4,000,000 For the 12-month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter2015

Appears in 1 contract

Samples: Credit and Security Agreement (StarTek, Inc.)

Minimum Adjusted EBITDA. As of any date of determination from Borrowers’ and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve their Subsidiaries’ Adjusted EBITDA, measured on a quartermonth-end basis, of at least for the required amount [__] month period ending _________, 201__ is $___________, which [does/does not] satisfy the minimum Adjusted EBITDA requirement set forth in Section 8 of the following table Credit Agreement (and copied below) for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): corresponding period. 4824-6167-8098/3 Applicable Amount Applicable Period (500,000$(1,234,000) For the 3 1-month period ending January 31, 2013 (500,000$) For the 2-month period ending February 28, 2013 $250,000 For the 3-month period ending March 31, 2008 2013 $(1,246,000) 250,000 For the 6 4-month period ending April 30, 2013 $1,000,000 For the 5-month period ending May 31, 2013 $2,000,000 For the 6-month period ending June 30, 2008 2013 $(200,000) 3,000,000 For the 9 7-month period ending July 31, 2013 $4,000,000 For the 8-month period ending August 31, 2013 $5,000,000 For the 9-month period ending September 30, 2008 2013 $(839,000) 5,500,000 For the 12 10-month period ending October 31, 2013 $6,000,000 For the 11-month period ending November 30, 2013 $7,000,000 For the 12-month period ending December 31, 2008 2013 $(750,000) 7,000,000 For the 12 12-month period ending January 31, 2014 $7,000,000 For the 12-month period ending February 28, 2014 $7,000,000 For the 12-month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter2014

Appears in 1 contract

Samples: Credit and Security Agreement and Waiver of Default (StarTek, Inc.)

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Minimum Adjusted EBITDA. As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Adjusted EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): Applicable Amount Applicable Period $(1,234,000) For the 3 month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter

Appears in 1 contract

Samples: Newcastle Partners L P

Minimum Adjusted EBITDA. As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Achieve Adjusted EBITDA, measured on a quartermonth-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): thereto: {Z0026725/1 } -2- Applicable Amount Applicable Period $(1,234,000) 5,000,000 For the 3 12-month period ending March 31, 2008 2014 $(1,246,000) 5,000,000 For the 6 12-month period ending April 30, 2014 $4,000,000 For the 12-month period ending May 31, 2014 $3,000,000 For the 12-month period ending June 30, 2008 2014 $(200,000) 3,000,000 For the 9 12-month period ending July 31, 2014 $1,500,000 For the 12-month period ending August 31, 2014 $2,000,000 For the 12-month period ending September 30, 2008 2014 $(839,000) 2,000,000 For the 12 12-month period ending October 31, 2014 $2,000,000 For the 12-month period ending November 30, 2014 $4,000,000 For the 12-month period ending December 31, 2008 2014 $(750,000) 4,000,000 For the 12 12-month period ending January 31, 2015 $4,000,000 For the 12-month period ending February 28, 2015 $4,000,000 For the 12-month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter2015

Appears in 1 contract

Samples: Credit and Security Agreement (StarTek, Inc.)

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