Operating Targets Clause Samples
The Operating Targets clause defines specific performance metrics or benchmarks that a party must meet during the course of an agreement. These targets may include quantitative goals such as production volumes, service levels, or efficiency rates, and are often measured over set time periods. By establishing clear expectations for operational performance, this clause helps ensure accountability and provides a basis for evaluating compliance, thereby reducing ambiguity and potential disputes between parties.
Operating Targets. 3.1 We set out our approach to measure operating targets in our Operations Manual. These describe our performance targets, but they are not expressed as binding performance levels.
Operating Targets. As of the date of Closing, Company and the Related Company shall meet the following minimum operating thresholds: (i) Company (for the nine (9) month period ended at September 30, 1996), and the Related Company (for the nine (9) month period ended at August 31, 1996) shall have achieved aggregate net revenues of no less than Twenty One Million One Hundred Sixty Four Thousand Dollars ($21,164,000.00); (ii) Company (for the nine (9) month period ended at September 30, 1996) and the Related Company (for the nine (9) month period ended August 31, 1996) shall have achieved aggregate EBITDA, recast to include the expense assumptions found in the Geneva Review, of no less than One Million Six Hundred Seventy Seven Thousand Dollars ($1,677,000.00); and (iii) since September 30, 1996, and except as required in the ordinary and usual course of the Business, no assets have been removed, distributed, assigned or paid by or from Company or Shareholder. With regard to any EBITDA Shortfall, Parent shall have the option of closing this transaction and applying an offset against the Merger Consideration, as described in Section 3.2 hereof.
Operating Targets. For the six (6) month period ended at January 31, 1997, Seller achieved net revenues actual receipts of approximately Six Million Six Hundred Fifteen Thousand Dollars ($6,615,000.00), of which no less than Three Million Four Hundred Ten Thousand ($3,410,000.00) shall have been derived from combined long-term care pharmacy and IV therapy Net Revenues.
Operating Targets. This section is not applicable.
Operating Targets. As of the date of Closing, Company and the Business shall meet the following minimum operating thresholds: (i) for the seven (7) month period ended July 31, 1996, Company shall have achieved annualized earnings before interest and taxes (adjusted for owner related and non-recurring expenses) of no less than One Million Three Hundred Thousand and No/100 Dollars ($1,300,000.00) (including an appropriate credit for earnings related to unrecorded nutrition revenues, estimated to be $200,000 on an annual basis); (ii) for the seven (7) month period ended July 31, 1996, Company shall have achieved annualized net revenues of no less than Ten Million Five Hundred Thousand and No/100 Dollars ($10,500,000.00); and (iii) that since December 31, 1995 and except as required in the ordinary and usual course of the Business, no assets have been removed, distributed, assigned or paid by or from Company or Shareholders. As of the date of Closing, the Assets shall have an aggregate net book value of no less than Three Million Five Hundred Thousand and No/100 Dollars ($3,500,000.00). The Asset shall be free and clear of all liabilities and encumbrances whatsoever other than the Assumed Liabilities.
Operating Targets. 24 7.9 Approval of Board of Directors......................... 24 7.10 Exhibits............................................... 24 ARTICLE VIII. OBLIGATIONS OF COMPANY AND SHAREHOLDER AT CLOSING................................................ 24 8.1
Operating Targets. As of the date of Closing, Company and the Business ------------------ will meet the following minimum operating thresholds: (i) for the twelve (12) month period ended December 31, 1996, Company will have suffered a loss, before interest and taxes, of no more than Eight Thousand and No/100 Dollars ($8,000.00) and revenues, net of contractual adjustments, bad debt reserves, bad debt write-offs and billing adjustments of at least One Million One Hundred Nineteen Thousand and No/100 Dollars ($1,119,000.00); and (ii) as of the date of Closing, the Assets will have an aggregate book value of at least One Hundred Ten Thousand and No/100 Dollars ($1 10,000.00). The Assets will be free and clear of all liabilities and encumbrances whatsoever other than the Continuing Liabilities.
Operating Targets. As of the date of Closing, Seller and the Business shall meet the following minimum operating thresholds: for the six (6) month period ended at January 31, 1997, Seller achieved net revenues actual receipts of approximately Six Million Six Hundred Fifteen Thousand Dollars ($6,615,000.00), of which no less than Three Million Four Hundred Ten Thousand ($3,410,000.00) shall be derived from combined long-term care pharmacy and IV therapy Net Revenues.
Operating Targets. Not applicable to this Agreement.