Quarterly Test Clause Samples
Quarterly Test. The Company shall, as of the last day of each calendar month ending during any one of the periods specified below (commencing September 30, 1998), maintain EBITDA for the three calendar months then ended of not less than: From and To and EBITDA shall not be including including less than: 9/30/98 12/15/98 $ 0 12/16/98 3/15/99 $ 500,000 3/16/99 6/15/99 $ 600,000 6/16/99 9/15/99 $ 700,000 9/16/99 12/15/99 $ 850,000 12/16/99 At all times thereafter $1,000,000
Quarterly Test. The Quarterly Test is the calculation for account growth. The Quarterly Test is performed each quarter for each client firm participating in the Legacy [***],[***]or Envestnet Direct programs. Envestnet will compare the number of accounts at the end of the quarter to the number of accounts at the beginning of the quarter for a given client firm. If the number of accounts at the end of the quarter is higher than the number of accounts at the beginning of the quarter, then Envestnet will pay NFS the [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
Quarterly Test. (i) Consolidated Net Worth as of end of any fiscal quarter $
(ii) Cumulative Net Income (from 6/30/97) times 50% plus $120,000,000 = $
(iii) (i) minus (ii) = $
(i) Funded Debt $
(ii) Earnings before Interest and Taxes plus depreciation and amortization = $
(iii) Ratio of (i) to (ii) = to 1
(i) Consolidated Earnings Before Taxes and Interest plus depreciation for the four fiscal quarters ended ______ = $
(ii) Interest payable on Consolidated Total Liabilities for same period = $
(iii) Ratio of (i) to (ii) = to 1
Quarterly Test. (i) Consolidated Net Worth as of end of any fiscal quarter $ ________
(ii) Cumulative Net Income (from 6/30/97) times 50% plus $120,000,000 = $ ________
(iii) (i) minus (ii) = $ ________
(i) Funded Debt $ ________
(ii) Earnings before Interest and Taxes plus depreciation and amortization = $ ________
(iii) Ratio of (i) to (ii) = to 1
(i) Consolidated Earnings Before Taxes and Interest plus depreciation for the four fiscal quarters ended ______ = $ ________
(ii) Interest payable on Consolidated Total Liabilities for same period = $ ________
(iii) Ratio of (i) to (ii) = to 1
(i) Current Assets = $ ________
(ii) Current Liabilities = $ ________
(iii) Ratio of (i) to (ii) = to 1
Quarterly Test. (i) At the end of each fiscal quarter set forth below, the Parent shall maintain a Fixed Charge Coverage Ratio of not less than the respective amount set forth below for the four consecutive fiscal quarter period ending on the last day of the applicable fiscal quarter: Fiscal Quarter End Fixed Charge Coverage Ratio ------------------ --------------------------- February 3, 2001 .40:1.00 May 5, 2001 .50:1.00 August 4, 2001 .70:1.00 November 3, 2001 1.00:1.00 and each fiscal quarter thereafter 1.00:1.00
(ii) The above covenant shall be tested as follows: The Credit Parties shall deliver to the Administrative Agent not later than (x) 30 days following the end of each of the first three fiscal quarters of each fiscal year and (y) 40 days following the fiscal year end a calculation of the Fixed Charge Coverage Ratio in such detail as shall be acceptable to the Administrative Agent together with an officer's certificate of the chief financial officer or the treasurer of the Parent stating whether the Parent is in compliance with the Fixed Charge Coverage Ratio for the applicable four fiscal quarter period, provided that in the event the calculation and the certificate set forth in this Section 9.26(a)