to Compliance Certificate Financial Covenants of Borrower Sample Clauses

to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated:
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to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: Tangible Net Worth (Section 6.9(a)) Required: $18,500,000 plus 50% new equity/Subordinated Debt plus 50% quarterly net income Actual:
to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: Monthly Recurring Revenue (Section 6.9(a)) Required: Commencing with the month ending August 31, 2011, and as of the last day of each month thereafter, and beginning with the month ending March 31, 2012 for the trailing three (3) month period then ended, Monthly Recurring Revenue of not less than the following amounts at the following times: Month Ending Monthly Recurring Revenue August 31, 2011 $ 2,920,000 September 30, 2011 $ 2,940,000 October 31, 2011 $ 2,960,000 November 30, 2011 $ 2,980,000 December 31, 2011 $ 3,000,000 January 31, 2012 $ 3,135,000 February 29, 2012 $ 3,276,075 March 31, 2012 $ 9,835,000 April 30, 2012 $ 10,277,000 May 31, 2012 $ 10,740,000 June 30, 2012 $ 11,223,000 July 31, 2012 $ 11,728,000 August 31, 2012 $ 12,255,000 September 30, 2012 $ 12,807,000 October 31, 2012 $ 13,384,000 November 30, 2012 $ 13,986,000 December 31, 2012 $ 14,615,000 For purposes of calculating the Monthly Recurring Revenue for February, such calculation will be prorated on the basis of twenty-nine (29) calendar days. Actual:
to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: Minimum Revenue (Section 6.12(a)) Required: Commencing with the calendar quarter ending December 31, 2014, and as of the last day of each calendar quarter thereafter, aggregate revenue (as determined in accordance with GAAP), measured on a cumulative basis for the calendar quarter then ended, of at least the following amounts at the following times: Quarter Ending Required Minimum Revenue December 31, 2014 $10,960,000 March 31, 2015 $15,394,000 June 30, 2015 $16,119,000 September 30, 2015 $16,457,000 December 31, 2015 $17,780,000 March 31, 2016 $18,000,000 June 30, 2016 $18,000,000 September 30, 2016 $18,000,000 December 31, 2016 $18,000,000 Actual:
to Compliance Certificate Financial Covenants of Borrower. Dated: In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Adjusted Quick Ratio (Section 6.7(a)) Required: 1.50:1.00 Actual:
to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: Tangible Net Worth [Section 6.9(a)] Required: $ , which equals the sum of (a) the TNW Base Amount, plus (b) 35% of all consideration received after the Effective Date for issuances of the Borrower’s equity securities and the principal amount of Subordinated Debt of the Borrower, plus (c) 35% of the Borrower’s positive net income (determined in accordance with GAAP) in the fiscal quarter ending March 31, 2008 and each fiscal quarter thereafter. Actual:
to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: Minimum Revenue (Section 6.12(a)) Required: Commencing with the calendar quarter ending June 30, 2014, and as of the last day of each calendar quarter thereafter, aggregate revenue (as determined in accordance with GAAP), measured on a cumulative basis for calendar quarter then ended, of at least the following amounts at the following times: Quarter Ending Required Minimum Revenue June 30, 2014 $9,610,000 September 30, 2014 $10,240,000 December 31, 2014 $10,960,000 March 31, 2015 and thereafter To be determined based on Borrower’s FY 2015 board-approved plan Actual:
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to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Agreement, the terms of the Agreement shall govern. Dated: ____________________ Minimum Revenue (Section 6.7(a)) Required: Upon Borrower’s receipt of either the Tranche Two Term Loan Advance or the Tranche Three Term Loan Advance, tested as of the last day of each month, for a trailing three (3) month period ending on such last day, revenue of at least the following amounts at the following times: Trailing 3-Months Ending Minimum Revenue September 30, 2020 $ 424,760.00 October 31, 2020 $ 835,019.00 November 30, 2020 $ 1,306,882.00 December 31, 2020 $ 1,820,572.00 January 31, 2021 $ 1,968,374.00 February 28, 2021 $ 2,117,706.00 March 31, 2021 $ 2,275,980.00 April 30, 2021 $ 2,551,183.00 May 31, 2021 $ 2,856,603.00 June 30, 2021 $ 3,204,671.00 July 31, 2021 $ 3,509,073.00 August 31, 2021 $ 3,864,184.00 September 30, 2021 $ 4,273,846.00 October 31, 2021 $ 4,839,378.00 November 30, 2021 $ 5,479,082.00 December 31, 2021 $ 6,196,881.00 January 31, 2022 $ 6,485,854.00 February 28, 2022 $ 6,777,933.00 March 31, 2022 $ 7,061,919.00 April 30, 2022 $ 7,840,282.00 May 31, 2022 $ 8,667,366.00 June 30, 2022 $ 9,541,871.00 July 31, 2022 $ 10,440,751.00 August 31, 2022 $ 11,364,096.00 September 30, 2022 $ 12,302,063.00 October 31, 2022 $ 13,253,642.00 November 30, 2022 $ 14,208,455.00 December 31, 2022 $ 15,149,766.00 Actual: Aggregate amount of Borrower’s revenue for the trailing three (3) month period $__________ ______ No, not in compliance _______Yes, in compliance EXHIBIT C-1LOAN PAYMENT/ADVANCE REQUEST FORM DEADLINE FOR SAME DAY PROCESSING IS 12 PM PACIFIC TIME Fax To: Date: _____________________ LOAN PAYMENT: NALU MEDICAL, INC. From Account #________________________________ To Account #__________________________________________ (Deposit Account #) (Loan Account #) Principal $____________________________________ and/or Interest $________________________________________ Authorized Signature:__________________________ Phone Number: Print Name/Title:_______________________________ LOAN ADVANCE: Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for an outgoing wire. From Account #________________________________ To Account #__________________________________________ (Loan Account #) (Deposit Account #) Amount of Term Loan Advance $___________________________ All Borrower’s representations and warranties in the Loan and Security Agreement are true, correct a...
to Compliance Certificate Financial Covenants of Borrower. Dated: ____________________
to Compliance Certificate Financial Covenants of Borrower. In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated: ____________________ Maintain at all times, subject to periodic reporting as of the last day of each month, unless otherwise noted, computed with respect to the Borrower only, and not on a consolidated basis, either of the following milestones:
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