Minimum Profitability. At all times during the term of the Loan, Borrower shall cause Guarantor to maintain an Operating Profit of not less than $2,000,000.00 for each calendar quarter during the term of the Loan, measured on a trailing quarterly basis as of March 31, June 30, September 30 and December 31 of each calendar year, commencing on March 31, 2021, for the immediately preceding three (3) consecutive calendar month period of time, based upon the Financial Statements delivered by Borrower to Lender in accordance with Sections 6.5.4 and 6.5.5 on Schedule 6.5. Borrower shall deliver to Lender any other documentation and evidence as shall be satisfactory to Lender, in Lender’s reasonable judgment, evidencing Guarantor’s compliance with the minimum requirement set forth in this Section 6.18.2.
Appears in 2 contracts
Sources: Business Loan and Security Agreement (Terra Property Trust, Inc.), Business Loan and Security Agreement (Terra Secured Income Fund 5, LLC)