Minimum Net Revenue. Borrowers shall not permit their Net Revenue for any Defined Period, as tested quarterly on the last day of each calendar quarter (each a “Testing Date”), to be less than the minimum amount set forth on Schedule 6.1 for such Testing Date. A breach of a financial covenant contained in this Section 6.1 shall be deemed to have occurred as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Sources: Credit and Security Agreement (Radius Health, Inc.), Credit and Security Agreement (Term Loan) (Radius Health, Inc.)
Minimum Net Revenue. Borrowers Borrower shall not permit their its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of each calendar quarter (each a “Testing Date”)the applicable Defined Period, to be less than the minimum amount set forth on Schedule 6.1 6.2 for such Testing DateDefined Period. A breach of a financial covenant contained in this Section 6.1 6.2 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Sources: Credit and Security Agreement (Revolving Loan) (Novadaq Technologies Inc), Credit and Security Agreement (Term Loan) (Novadaq Technologies Inc)
Minimum Net Revenue. Borrowers Borrower shall not permit their its consolidated Net Revenue for any Defined Period, as tested quarterly monthly on the last day of each calendar quarter the applicable Defined Period (each such date, a “Testing Date”), to be less than the minimum amount set forth on Schedule 6.1 for such Testing Date. A breach of a financial covenant contained in this Section 6.1 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Sources: Credit and Security Agreement (Term Loan) (Sight Sciences, Inc.), Credit and Security Agreement (Sight Sciences, Inc.)
Minimum Net Revenue. Borrowers Except as expressly provided in Section 6.2, Borrower shall not permit their its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of each calendar quarter (each a “Testing Date”), to be less than $40,000,000 (the minimum amount set forth on Schedule 6.1 for such Testing Datecovenant contained in this Section 6.1, the “Minimum Net Revenue Covenant”). A breach of a financial covenant contained in this Section 6.1 shall be deemed to have occurred as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 2 contracts
Sources: Credit and Security Agreement (Revolving Loan) (Radius Health, Inc.), Credit and Security Agreement (Term Loan) (Radius Health, Inc.)
Minimum Net Revenue. Borrowers Borrower shall not permit their its Net Revenue for any Defined Period, as tested quarterly on the last day of each calendar quarter (each a “Testing Date”)the applicable Defined Period, to be less than the minimum amount set forth on Schedule 6.1 for such Testing DateDefined Period. A breach of a financial covenant contained in this Section 6.1 shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified Defined Period, regardless of when the financial statements reflecting such breach are delivered to Agent.
Appears in 1 contract