Required Thresholds definition

Required Thresholds means that Tenant maintains the following: (i) unrestricted cash and short-term investments (as computed in accordance with generally accepted accounting principles consistently applied) of not less than Thirty Million and No/Dollars ($30,000,000.00); provided that following the date of Tenant’s payment in full of the Second Payment to Landlord, such amount shall be reduced to Twenty Million and No/Dollars ($20,000,000.00), and (ii) the book value of Tenant’s total then-current assets (as shown on Tenant’s financial statements and computed in accordance with generally accepted accounting principles consistently applied) shall be in excess of one hundred ten percent (110%) of the book value of Tenant’s total then-current liabilities (as shown on Tenant’s financial statements and computed in accordance with generally accepted accounting principles consistently applied). Tenant shall submit to Landlord, within thirty (30) days following the end of each calendar month following the date of this Agreement, a report prepared by Tenant (which report shall be certified by an independent certified public accountant or Tenant’s chief financial officer) which shall expressly include, without limitation, the amount of Tenant’s (A) then-current cash balance, and (B) then-current working capital. Additionally, Tenant shall submit to Landlord copies of Tenant’s quarterly 10-Q reports to the Securities and Exchange Commission within ten (10) business days of the filing of the same with the Securities and Exchange Commission. If Tenant fails to provide such reports or such 10-Q reports within ten (10) business days following its receipt of written notification from Landlord that the same was not received within such thirty (30) day period, then the Required Thresholds shall be deemed not to have been maintained, in which event Tenant shall immediately be required to deliver the L-C to Landlord in the then-applicable L-C Amount. If Tenant fails to provide the L-C to Landlord in the L-C Amount within ten (10) business days following written notice to Tenant that the same was not provided when due, then notwithstanding any contrary terms set forth in Section 5, above, the total amount of the then outstanding amount of the Termination Fee shall be due and payable in full to Landlord within five (5) business days following the expiration of the foregoing ten (10) business day period.
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Required Thresholds means, collectively, the maintenance of each of ( x ) Free Cash Flow for the Tenant entity of $0 to positive dollars, ( y ) an EBITDA Margin for the Tenant entity of no less than five percent (5.0%), and ( z ) Gross Profit Margin for the Tenant entity of no less than fifteen percent (15%).
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Examples of Required Thresholds in a sentence

  • If Tenant fails to provide such reports or such 10-Q reports within ten (10) business days following its receipt of written notification from Landlord that the same was not received within such thirty (30) day period, then the Required Thresholds shall be deemed not to have been maintained, in which event Tenant shall immediately be required to deliver the L-C to Landlord in the then-applicable L-C Amount.

  • In addition, to the extent (i) Tenant's financial condition does not satisfied the "Required Thresholds", as that term is set forth in SECTION 21.2.2.2, AND (ii) the cost of such Alterations exceeds $500,000.00, Landlord may require Tenant to obtain a lien and completion bond or any other commercially reasonable alternate form of security in connection with Tenant's construction and completion of any such Alterations.

  • In the event Tenant maintains such Required Thresholds for two (2) consecutive financial quarters, Tenant shall be entitled to a fifty percent (50%) reduction of the L-C Amount.

  • Notwithstanding anything in the Lease to the contrary, effective as of the first day of the Extended Term (i.e., September 1, 2017), (i) the required L-C Amount shall be reduced to the sum of One Hundred Thousand Ninety-One Thousand Five Hundred Twenty and No/100 Dollars ($191,520.00) (the "ET L-C Amount"), and (ii) Tenant shall be obligated to maintain an L-C in the ET L-C Amount throughout the Extended Term, regardless of the Required Thresholds otherwise set forth in Section 21.2 of the Lease.

  • In the event Tenant maintains such Required Thresholds for four (4) consecutive financial quarters, Tenant shall be entitled to a one hundred percent (100%) reduction of the L-C Amount.

  • Notwithstanding any provision of this Lease to the contrary, the Letter of Credit Amount shall be reduced by Two Hundred Twenty Thousand Six Hundred Fifty Nine and 70/100 Dollars ($220,659.70) (the “Reduction Amount”) up to a total of three (3) separate times upon delivery of a factually correct written notice to Landlord stating that, as of the date of such notice, Tenant satisfies the Required Thresholds as that term is defined below (each a “Reduction Notice”).

  • Notwithstanding any provision of this Lease to the contrary, the Letter of Credit Amount shall be reduced by Two Hundred Nineteen Thousand Six Hundred Fifty Nine and 10/100 Dollars ($219,613.20) (the “Reduction Amount”) up to a total of three (3) separate times upon delivery of a factually correct written notice to Landlord stating that, as of the date of such notice, Tenant satisfies the Required Thresholds as that term is defined below (each a “Reduction Notice”).

  • For the purposes of this Article 22 , the “ Required Thresholds ” shall mean, collectively, the maintenance of each of ( x ) Free Cash Flow for the Tenant entity of $0 to positive dollars, ( y ) an EBITDA Margin for the Tenant entity of no less than five percent (5.0%), and ( z ) Gross Profit Margin for the Tenant entity of no less than fifteen percent (15%).

Related to Required Thresholds

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.

  • Stated Threshold means total losses under the shared loss agreements in the amount of $41,000,000.00.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of "BBB+".

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.