Financial Hurdles definition

Financial Hurdles means Target satisfying, for each of Target’s fiscal years ended December 31, 2017, 2018 and 2019, both the Minimum EBIT Margin and the Minimum Reserve Amount.
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Examples of Financial Hurdles in a sentence

  • Notwithstanding the foregoing, in the event that Tenant achieves the Financial Hurdles during the Extension Term, such letter of credit shall be permitted to be reduced to equal the sum of one month of Monthly Rent at the time of reduction, provided that Tenant has not been in default in the payment of Monthly Rent beyond applicable notice or cure periods more than two (2) times in any consecutive twelve (12) month period.

  • In the event for any particular year the Financial Hurdles have not been fully satisfied, the number of Buyer Shares to be released to each Seller shall be reduced on a pro rata basis.

  • The rights of Tenant under this Section 33 are personal to Tenant or a Permitted Transferee, provided such Permitted Transferee meets the foregoing Financial Hurdles (or delivers a letter of credit in accordance with this subsection) and shall not inure to the benefit of any other successor or assign of Tenant.

  • If the Tenant exercises its expansion right under this Section 33 and has satisfied the Financial Hurdles at the time of exercise, the Letter of Credit defined in Section 27 above shall be increased by an amount equal to one month of Monthly Rent for the New Building or the expansion of the existing Building as of the Expansion Premises Commencement Date.

  • If Tenant timely exercises its option and has satisfied the Financial Hurdles, and provided that Tenant has not been in default in the payment of Monthly Rent beyond applicable notice or cure periods more than two (2) times in any consecutive twelve (12) month period, Landlord will cause the New Building or the expansion of the existing Building to be constructed subject to and in accordance with this Section 33.