Cash Burn. At all times when any amount is outstanding pursuant to the Initial Equipment Loan or the Second Equipment Loan, measured on a trailing three-months basis, a Cash Burn of not more than the amounts shown in the table immediately below for the corresponding monthly reporting period. Amounts required by this covenant for 2012 shall be reasonably set by Bank (and incorporated herein by an amendment hereto, which Borrower hereby agrees to promptly execute) based upon Borrowers’ 2012 budget, which shall be approved by Borrowers’ boards of directors, as applicable, and delivered to Bank no later than November 30, 2011. Jan-11 $ 7,611,829 Feb-11 $ 7,072,674 Mar-11 $ 7,293,392 Apr-11 $ 7,102,145 May-11 $ 7,358,123 Jun-11 $ 6,768,760 Jul-11 $ 6,752,993 Aug-11 $ 6,282,012 Sep-11 $ 5,703,002 Oct-11 $ 4,599,703 Nov-11 $ 4,272,005 Dec-11 $ 3,652,230
Cash Burn. Tested monthly and calculated on a trailing six-months average, a Cash Burn of not more than the amounts shown in column B below for the corresponding reporting period in column A.
Cash Burn. Shall not permit cumulative Cash Burn (calculated from January 1, 2020) to exceed:
Cash Burn. (i) [If any Subsequently Purchased Notes (as defined in the Securities Purchase Agreement) have been issued, then]5 for each calendar quarter beginning with the calendar quarter ending on the latter of (i) December 31, 2023 and (ii) the last calendar day of the calendar quarter to have been completed following the issuance of any Subsequently Purchased Notes (each such period, a “Quarterly Cash Burn Period”), the Company’s Available Cash on the last calendar day of such Quarterly Cash Burn Period shall be greater than or equal to (x) the sum of the Company’s Cash and Cash Equivalents on the last calendar day of the immediately preceding calendar quarter, less (y) ten million dollars ($10,000,000) (the “Quarterly Cash Burn Test”).
Cash Burn. The Company shall not permit the absolute value of Cash Burn for any quarterly period set forth below to exceed the amount set forth in the table below with respect to such quarterly period (provided, however, that this Section 4(o)(ii)(B) shall not apply in any quarterly period in which the aggregate amount of cash and Cash Equivalents of the Company exceeds $25,000,000 at the end of such quarterly period):
Cash Burn. The Borrower is not to cause or permit its Cash Burn to be more than minus One Hundred Fifty Thousand Dollars (-$150,000.00) for the first fiscal quarter of fiscal 2010 ending September 30, 2009. "
Cash Burn. Borrowers hereby covenant and agree that the Specified Borrowers shall: (a) beginning on March 30, 2020 and on each of June 30, 2020, September 30, 2020 and December 31, 2020, ensure that their Three-Month Cash Burn Amount as of each such Determination Date does not exceed $14,500,000 and (b) beginning on March 30, 2021 and on each Determination Date occurring on the last day of each calendar quarter thereafter, ensure that their Three- Month Cash Burn Amount as of such Determination Date does not exceed $14,500,000 or such other amount as may be agreed to in writing between the parties.
Cash Burn. Borrower shall maintain, as of the last day of each calendar quarter, and on a rolling two-quarter basis, a Cash Burn not to exceed the amounts set forth in the respective columns for the referenced periods set forth in Exhibit E hereto. As used herein, "Cash Burn" means prior period unrestricted cash and Cash Equivalents minus current period unrestricted cash and Cash Equivalents, plus, provided no Event of Default has occurred or is continuing, any new debt or equity financing during the period.
Cash Burn. Borrower shall maintain, as of the last day of each calendar month, a balance of unrestricted cash, cash equivalents and marketable securities which is at least five (5) times Borrower's Monthly Cash Burn. "Monthly Cash Burn" means Borrower's average monthly negative operating cash flow plus capital expenditures for the three months immediately prior to the date of measurement.
