Common use of Profitability Clause in Contracts

Profitability. Borrower shall be profitable (profitability to be determined in accordance with GAAP and to be net of charges of software development costs) for each fiscal quarter, except Borrower may suffer a loss not to exceed $150,000.00 for one fiscal quarter in any fiscal year, commencing with the fiscal quarter ending March 31, 1999.

Appears in 4 contracts

Samples: August 1999 Loan Modification Agreement (Imanage Inc), Loan and Security Agreement (Imanage Inc), Loan and Security Agreement (Imanage Inc)

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Profitability. Borrower shall be profitable (profitability to be determined in accordance with GAAP and GAAP, to be net of charges of software development costscosts and to exclude any and all non-cash expenses associated directly with the amortization of stock compensation to employees of Borrower) for each fiscal quarter, except Borrower may suffer a loss not to exceed $150,000.00 for one fiscal quarter in any fiscal year, commencing with the fiscal quarter ending March 31, 1999.

Appears in 3 contracts

Samples: Loan and Security Agreement (Imanage Inc), Loan and Security Agreement (Imanage Inc), August 1999 Loan Modification Agreement (Imanage Inc)

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