Adjusted EBITDA. Borrower’s trailing twelve months’ Adjusted EBITDA shall be at least $300,000, measured on a quarterly basis as of the last day of each calendar quarter, beginning with quarter ended June 30, 2018.
Appears in 2 contracts
Samples: Loan and Security Agreement (IBEX LTD), Loan and Security Agreement (IBEX LTD)
Adjusted EBITDA. (i) Prior to the funding of the initial Term Loan and beginning with the quarter ended June 30, 2018, Borrower’s trailing twelve months’ Adjusted EBITDA shall be at least $300,000, measured on a quarterly basis as of the last day of each calendar quarter, beginning with quarter ended June 30, 2018.
Appears in 2 contracts
Samples: Loan and Security Agreement (IBEX LTD), Loan and Security Agreement (IBEX LTD)