Performance to Plan. Borrower’s quarterly EBITDA for quarters ending September 30, 2014 and December 31, 2014 shall be positive. Borrower’s quarterly EBITDA for 2015 and beyond shall not negatively deviate more than 20% from its Projected Quarterly EBITDA as set forth in Borrower’s most recent financial projections provided to Bank in accordance with Section 3.1 or Section 6.3(d); including the amounts set forth on Exhibit E attached hereto, with respect to the periods stated therein. Notwithstanding the foregoing, Borrower’s failure to comply with the foregoing sentence shall not be deemed a breach of this section if the total quarterly negative deviation from Projected Quarterly EBITDA for the relevant fiscal quarter does not exceed $250,000.
Appears in 3 contracts
Sources: Loan and Security Agreement, Loan and Security Agreement (EverQuote, Inc.), Loan and Security Agreement (EverQuote, Inc.)