Common use of Minimum Capital Clause in Contracts

Minimum Capital. Pursuant to Section 6.12 of the Credit Agreement, as of the Reporting Date, Heska's Capital was, on a consolidated basis, $_________________, which o satisfies o does not satisfy the requirement that such amount be not less than $_____________ on the Reporting Date, as set forth in the table below and adjusted, if applicable, in accordance with Section 6.12: The covenant levels for January 31, 2010 through and including December 31, 2010 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska's Capital, as evidenced by Heska's audited balance sheet as of December 31, 2009, is greater than or less than $15,202,000; provided, however, that any such downward adjustment shall not exceed $500,000.

Appears in 1 contract

Sources: Credit and Security Agreement (Heska Corp)

Minimum Capital. Pursuant to Section 6.12 of the Credit Agreement, as of the Reporting Date, Heska's ’s Capital was, on a consolidated basis, $_________________$ , which o satisfies o does not satisfy the requirement that such amount be not less than $_____________ $ on the Reporting Date, as set forth in the table below and adjusted, if applicable, in accordance with Section 6.12: The covenant levels for January 31, 2010 2009 through and including December 31, 2010 2009 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska's ’s Capital, as evidenced by Heska's ’s audited balance sheet as of December 31, 20092008, is greater than or less than $15,202,000[***]; provided, however, that any such downward adjustment shall not exceed $500,000.

Appears in 1 contract

Sources: Credit and Security Agreement (Heska Corp)

Minimum Capital. Pursuant to Section 6.12 of the Credit Agreement., as of the Reporting Date, Heska's ’s Capital was, on a consolidated basis, $_________________, which o satisfies o does not satisfy the requirement that such amount be not less than $_____________ on the Reporting Date, as set forth in the table below and adjusted, if applicable, in accordance with Section 6.12: The covenant levels for January 31, 2010 2011 through and including December 31, 2010 2011 shall be adjusted upwards or downwards, respectively on a dollar-for-dollar basis, by an amount equal to the amount by which Heska's ’s Capital, as evidenced by Heska's ’s audited balance sheet as of December 31, 20092010, is greater than or less than $15,202,00014,898,000; provided, however, that any such downward adjustment shall not exceed $500,000.

Appears in 1 contract

Sources: Credit and Security Agreement (Heska Corp)