Performing RMR definition
Performing RMR means the amount of recurring monthly revenue (net of any communication, utility company or third-party pass-through charges, such as AlarmNet, assessments, customer discounts or the taxes paid by Sellers as set forth on Schedule 1.1) of the Business (after taking into account whether such customers are billed quarterly, annually or otherwise) derived solely from Bulk and Commercial Agreements and Customer Agreements in full force and effect as of the Closing Date. For purposes hereof “Performing RMR” does not include any of the following revenue: (A) revenue from customers who have balances of recurring monthly charges owed to Sellers greater than $20.00 and whose balances are 105 days or greater past due from the invoice date (except that recurring monthly revenue that otherwise satisfies the definition of Performing RMR as set forth in the first sentence of this paragraph received from customers that in the ordinary course of business have regularly and consistently paid their accounts after 105 days but within 135 days of the invoice date shall be considered Performing RMR for purposes hereof); (B) revenue that relates to installation purchase payments or one-time assessment charges; (C) revenue from customers from whom Sellers have received, or to whom Sellers have delivered or, in the ordinary course of the operation of the Business consistent with past practices, should have delivered, notice (whether written or oral) of a pending cancellation; (D) Third Party Monitoring RMR; (E) revenue from customers who were added or retained since June 30, 2004 as a result of extraordinary marketing efforts, including changes in underwriting criteria, or an amnesty program; (F) revenue in excess of $21,815 in the aggregate resulting from price increases implemented since June 30, 2004; (G) Defaulting RMR; (H) reimbursement for or prepayment of private line telephone line pass-through charges associated with any monitored account (provided however, that telephone or other similar charges incurred for the operation of the Business which are not pass-through charges to Sellers’ customers shall not be deducted from Performing RMR); (I) time and material service revenue, or other revenues that are not received on a regular and recurring basis; and (J) charges that are not set forth in a Bulk and Commercial Agreement or Customer Agreement as recurring throughout the entire remaining term of such Bulk and Commercial Agreement or Customer Agreement (provided however, th...
Examples of Performing RMR in a sentence
At least ninety-five percent (95%) of the Performing RMR attributable to all Bulk and Commercial Agreements and Customer Agreements is attributable to such Bulk and Commercial Agreements and Customer Agreements that are fully-executed written contracts.