Common use of Minimum Net Sales Clause in Contracts

Minimum Net Sales. Not and not suffer or permit Net Sales for any Computation Period ending on or after March 31, 2013, to be less than the applicable Net Sales set forth below at the end of each such Computation Period (subject to adjustment as described in Section 7.13.5); provided, that with respect to any incurrence of subordinated Debt pursuant to Section 7.1(c), and any Permitted Acquisition, in each case to be consummated prior to the availability of financial statements for the Fiscal Quarter ending March 31, 2013, Net Sales shall not be less than CDN$5,886,643: 56 Computation Period Amount March 31, 2013 CDN$6,402,763 June 30, 2013 CDN$6,278,829 September 30, 2013 CDN$5,821,096 December 31, 2013 CDN$6,058,685 March 31, 2014 CDN$6,575,332 June 30, 2014 CDN$6,388,129 September 30, 2014 CDN$5,916,371 December 31, 2014 CDN$6,161,926 March 31, 2015 CDN$7,771,238

Appears in 2 contracts

Samples: Credit Agreement (Merus Labs International Inc.), Credit Agreement (PDL Biopharma, Inc.)

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Minimum Net Sales. Not and not suffer or permit Net Sales for any Computation Period ending on or after March 31, 2013, to be less than the applicable Net Sales set forth below at the end of each such Computation Period (subject to adjustment as described in Section 7.13.5); provided, that with respect to any incurrence of subordinated Debt pursuant to Section 7.1(c), and any Permitted Acquisition, in each case to be consummated prior to the availability of financial statements for the Fiscal Quarter ending March 31, 2013, Net Sales shall not be less than CDN$5,886,643CDN$* * *: 56 Computation Period Amount March 31Axxxxx Xxxxx 00, 2013 CDN$6,402,763 0000 XXX$* * * June 30, 2013 CDN$6,278,829 CDN$* * * September 30, 2013 CDN$5,821,096 CDN$* * * December 31, 2013 CDN$6,058,685 CDN$* * * March 31, 2014 CDN$6,575,332 CDN$* * * June 30, 2014 CDN$6,388,129 CDN$* * * September 30, 2014 CDN$5,916,371 CDN$* * * December 31, 2014 CDN$6,161,926 CDN$* * * March 31, 2015 CDN$7,771,238CDN$* * *

Appears in 1 contract

Samples: Credit Agreement (Merus Labs International Inc.)

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Minimum Net Sales. Not and not suffer or permit Net Sales for any Computation Period ending on or after March 31, 2013, to be less than the applicable Net Sales set forth below at the end of each such Computation Period (subject to adjustment as described in Section 7.13.5); provided, that with respect to any incurrence of subordinated Debt pursuant to Section 7.1(c), and any Permitted Acquisition, in each case to be consummated prior to the availability of financial statements for the Fiscal Quarter ending March 31, 2013, Net Sales shall not be less than CDN$5,886,643: 56 CDN$* * * Computation Period Amount March 31, 2013 CDN$6,402,763 * * * June 30, 2013 CDN$6,278,829 * * * September 30, 2013 CDN$5,821,096 * * * December 31, 2013 CDN$6,058,685 * * * March 31, 2014 CDN$6,575,332 * * * June 30, 2014 CDN$6,388,129 * * * September 30, 2014 CDN$5,916,371 * * * December 31, 2014 CDN$6,161,926 * * * March 31, 2015 CDN$7,771,238* * *

Appears in 1 contract

Samples: Credit Agreement (PDL Biopharma, Inc.)

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