Minimum Earnings Clause Samples
The Minimum Earnings clause establishes a guaranteed baseline amount that a party, typically an employee or contractor, will receive regardless of performance or external factors. In practice, this means that even if sales targets or commission thresholds are not met, the individual is assured a specified minimum payment for their work or services. This clause provides financial security and predictability, protecting the recipient from earning below a certain level and ensuring stability in compensation.
Minimum Earnings. The Borrowers shall maintain on a consolidated basis at all times as of the end of each calendar month EBITDA of not less than 90% of the projected EBITDA for such month as set forth in the Borrowers' business plan dated October 23, 1996.
Minimum Earnings. (a) In the event that (i) the Borrower makes any prepayment or repayment of the Term Loans (excluding (A) any prepayment or repayment made from Net Cash Proceeds from any Casualty Event pursuant to Section 4.3(b), and (B) required amortization payments under Section 4.1)) or (ii) the Term Loans are accelerated for any reason (including in connection with the commencement of any Insolvency Proceeding), the Borrower shall pay to the Agent on the date of any such prepayment or repayment, for the ratable account of each of the applicable Lenders, a fee in an amount equal to:
(i) The Minimum Earnings Amount plus 2% in the case of such prepayments or repayments, or prepayment or repayments resulting from acceleration, occurring during the Minimum Earnings Period. In determining any Minimum Earnings Amount, the following terms shall have the following meanings:
Minimum Earnings. The Borrowers shall maintain on a consolidated basis at all times as of the end of each calendar month EBITDA of not less than 90% of the projected EBITDA for such month as set forth in the Borrowers' 1998 Business Plan.
Minimum Earnings. During the term of this Note, Borrower's reported net income, as defined by GAAP, plus amortization expenses reported for the amortization of intangible expenses associated with the acquisition of assets or equity, for any four quarters within any consecutive six quarterly periods of time, shall in the aggregate exceed $1,500,000 for such four quarters taken together.
Minimum Earnings. The Company covenants that it will not permit Consolidated EBITDA (i) for the fiscal quarter period ending October 2, 2010 to be less than ($5,000,000), (ii) for the two fiscal quarter period ending on December 31, 2010 to be less than ($10,000,000) (iii) for the three fiscal quarter period ending on April 2, 2011 to be less than ($10,000,000) and (iv) for the four fiscal quarter period ending on June 30, 2011 to be less than ($10,000,000).
Minimum Earnings. The Borrower will not incur a total loss for the fiscal year ending December 31, 2019 in excess of Six Hundred Forty Thousand ($640,000.00) Dollars and the Borrower will achieve, during each quarter of its fiscal year and on a year-to-date basis at the end of each quarter, commencing with the fiscal quarter ending March 31, 2020, Earnings Before Taxes of not less than one hundred (100%) percent of its projected Earnings Before Taxes set forth in the projections required pursuant to Section 6.1(d) hereof, or delivered to Lender in connection with the initial funding of the Credit Facility and attached hereto as Exhibit C and updated annually on or before November 30 in each fiscal year (or more frequently if approved by the Lender, and solely at the Lender's discretion, on a case by case basis) or, in the alternative, if the Borrower has projected a loss, the Borrower will not incur as of the end of each quarter and on a year·-to-date basis, at the end of each quarter, a loss greater than its projected loss.
Minimum Earnings. The Court agreed that the words “Minimum Basic Earnings” should be changed to “Minimum Earnings” and ordered that the quantum be increased to RM450.00 per month (all inclusive).
Minimum Earnings. 25.1 An employee’s annual earnings will not fall below the relevant minimum earnings that would have been payable under the relevant modern award had this agreement not been in place.
Minimum Earnings. As of January 3, 1999, the Borrower was not in compliance with Section 8.25 of the Credit Agreement by reason of the Borrower's failure to maintain its Adjusted EBITDA for the four fiscal quarters of the Borrower then ending in an amount not less than $65,000,000. Such failure to comply with Section 8.25 of the Credit Agreement as of January 3, 1999 is hereby waived.
Minimum Earnings. Borrower shall not for any fiscal year ending during the term of this Agreement permit EBITDA for the twelve-month period (or such shorter period as may be applicable):