Minimum Net Sales. As of the last day of each Fiscal Quarter set forth below, Net Sales for the twelve (12) consecutive month period ending on the last day of such Fiscal Quarter shall not be less than the corresponding amount set forth opposite such Fiscal Quarter: June 30, 2024 $78,872,953 September 30, 2024 $88,399,787 December 31, 2024 $98,680,724 March 31, 2025 $109,528,429 June 30, 2025 $110,000,000 September 30, 2025 $110,000,000 December 31, 2025 $110,000,000 March 31, 2026 $110,000,000 June 30, 2026 $110,000,000 September 30, 2026 $110,000,000 December 31, 2026 $110,000,000 March 31, 2027 $110,000,000 June 30, 2027 $110,000,000 September 30, 2027 $110,000,000 December 31, 2027 $110,000,000 March 31, 2028 $110,000,000 ; provided that compliance with this covenant shall not be required for any Fiscal Quarter with respect to which (i) the Credit Parties maintain Liquidity in an amount greater than or equal to $60,000,000 as of the end of such Fiscal Quarter and (ii) there has not occurred a Two-Consecutive Fiscal Quarter Net Sales Decline as of the end of such Fiscal Quarter.
Appears in 4 contracts
Sources: Credit Agreement (Heartflow, Inc.), Credit Agreement (Heartflow, Inc.), Credit Agreement (Heartflow, Inc.)