Minimum Revenue Amount Clause Samples
Minimum Revenue Amount. Permit revenues (under GAAP) from the sale in the ordinary course of business to third party customers of ILUVIEN by Borrower, on a trailing six (6) month basis, tested at November 30, 2020 (the “Interim Revenue Testing Date”) for the trailing six (6) month period then ended and subsequently tested at the end of each quarter thereafter, to be less than the applicable Minimum Revenue Amount set forth below for such testing date: November 30, 2020 $[***] March 31, 2023 and the last day of each quarter thereafter [***]% of projected revenues in accordance with an annual plan submitted by Borrower to Collateral Agent by January 15th of such year (i.e., January 15, 2023 for the 2023 quarterly covenants), such plan to be thereafter approved by Borrower’s board of directors and Collateral Agent in its sole discretion no later than February 28 of such year.
Minimum Revenue Amount. (i) Permit revenues (under GAAP) from the sale in the ordinary course of business to third party customers of ILUVIEN, or other such products that may be acquired or licensed, by Borrower, on a trailing six (6) month basis, tested on March 31, 2023, for the trailing six (6) month period then ended and subsequently tested at the end of each quarter thereafter prior to January 1, 2025, to be less than the applicable Minimum Revenue Amount set forth below for such testing date, and (ii) beginning on the fiscal quarter ending on March 31, 2025, and each fiscal quarter ending thereafter, permit revenues (under GAAP) from the sale in the ordinary course of business to third party customers of ILUVIEN, or other such products that may be acquired or licensed, by Borrower on a trailing six (6) month basis for such fiscal quarter to be less than the amount equal to 110% of the actual revenues on a trailing six (6) month basis as of the quarter ending twelve (12) months prior to such date of determination:
Minimum Revenue Amount. Permit revenues (under GAAP) from the sale in the ordinary course of business to third party customers of ILUVIEN by ▇▇▇▇▇▇▇▇, on a trailing six (6) month basis, tested at November 30, 2020 (the “Interim Revenue Testing Date”) for the trailing six (6) month period then ended and subsequently tested at the end of each quarter US-DOCS\137808208.5 US-DOCS\137808208.5 thereafter, to be less than the applicable Minimum Revenue Amount set forth below for such testing date: November 30, 2020 $[***] December 31, 2020 $[***] March 31, 2021 $[***] June 30, 2021 $[***] September 30, 2021 $[***] December 31, 2021 $[***] March 31, 2022 $[***] June 30, 2022 $[***] September 30, 2022 $[***] December 31, 2022 $[***] March 31, 2023 $[***] June 30, 2023 $[***] September 30, 2023 $[***] December 31, 2023 $[***] March 31, 2024 and the last day of each quarter thereafter [***]% of projected revenues in accordance with an annual plan submitted by Borrower to Collateral Agent by January 15th of such year (i.e., January 15, 2024 for the 2024 quarterly covenants), such plan to be thereafter approved by ▇▇▇▇▇▇▇▇’s board of directors and Collateral Agent in its sole discretion no later than February 28 of such year.
Minimum Revenue Amount. “Minimum Revenue Amount” shall mean the same as “Seller’s Revenue.”
Minimum Revenue Amount. Permit revenues (under GAAP) from the sale in the ordinary course of business to third party customers of ILUVIEN by Borrower, on a trailing six (6) month basis, tested at November 30, 2020 (the “Interim Revenue Testing Date”) for the trailing six (6) month period then ended and subsequently tested at the end of each quarter thereafter, to be less than the applicable Minimum Revenue Amount set forth below for such testing date: November 30, 2020 $[***] December 31, 2020 $[***] March 31, 2021 $[***] June 30, 2021 $[***] September 30, 2021 $[***] December 31, 2021 $[***] March 31, 2022 and the last day of each quarter thereafter [***]% of projected revenues in accordance with an annual plan submitted by Borrower to Collateral Agent by January 15th of such year (i.e., January 15, 2022 for the 2022 quarterly covenants), such plan to be approved by Borrower’s board of directors and Collateral Agent in its sole discretion.