Common use of Adjusted EBITDA Clause in Contracts

Adjusted EBITDA. Borrower shall achieve a minimum Adjusted EBITDA, measured on a quarterly basis, in the following amounts: Fiscal Quarter Minimum Adjusted EBITDA Fiscal quarter ending June 30, 2014: $1,250,000 Fiscal quarter ending September 30, 2014: $1,600,000 Fiscal quarter ending December 31, 2014: $1,800,000 Fiscal quarter ending March 31, 2015: $2,100,000 Fiscal quarter ending June 30, 2015: $2,600,000 Borrower shall achieve a minimum Adjusted EBITDA for the remaining fiscal quarters in 2015 and beyond in such amounts as may be mutually agreed upon by Borrower and Bank with reference to Borrower’s annual operating projections for such year(s) delivered to Bank in accordance with Section 6.3(f).

Adjusted EBITDA. Borrower shall achieve a minimum Adjusted EBITDA, measured on a quarterly basis, in the following amounts: Fiscal Quarter Minimum Adjusted EBITDA Fiscal quarter ending June 30, 20142012: $1,250,000 575,000 Fiscal quarter ending September 30, 20142012: $1,600,000 700,000 Fiscal quarter ending December 31, 20142012: $1,800,000 Fiscal quarter ending March 31, 2015: $2,100,000 Fiscal quarter ending June 30, 2015: $2,600,000 1,000,000 Borrower shall achieve a minimum Adjusted EBITDA for the remaining fiscal quarters in 2015 2013 and beyond in such amounts as may be mutually agreed upon by Borrower and Bank with reference to Borrower’s annual operating projections for such year(s) delivered to Bank in accordance with Section 6.3(f).

Adjusted EBITDA. Borrower shall achieve a minimum Adjusted EBITDA, measured on a quarterly basis, in the following amounts: Fiscal Quarter Minimum Adjusted EBITDA Fiscal quarter ending June 30, 2014: $1,250,000 2,200,000 Fiscal quarter ending September 30, 2014: $1,600,000 Fiscal quarter ending December 31, 2014: $1,800,000 Fiscal quarter ending March 31, 2015: $2,100,000 Fiscal quarter ending June 30, 2015: $2,600,000 Borrower shall achieve a minimum Adjusted EBITDA for the remaining fiscal quarters in 2015 and beyond in such amounts as may be mutually agreed upon by Borrower and Bank with reference to Borrower’s annual operating projections for such year(s) delivered to Bank in accordance with Section 6.3(f).

Adjusted EBITDA. Borrower shall achieve a minimum Adjusted EBITDA, measured on a quarterly basis, in the following amounts: Fiscal Quarter Minimum Adjusted EBITDA Fiscal quarter ending June 30, 20142013: $1,250,000 $ 1,950,000 Fiscal quarter ending September 30, 20142013: $1,600,000 $ 2,250,000 Fiscal quarter ending December 31, 20142013: $1,800,000 $ 2,500,000 Fiscal quarter ending March 31, 20152014: $2,100,000 Fiscal quarter ending June 30, 2015: $2,600,000 $ 2,750,000 Borrower shall achieve a minimum Adjusted EBITDA for the remaining fiscal quarters in 2015 2014 and beyond in such amounts as may be mutually agreed upon by Borrower and Bank with reference to Borrower’s annual operating projections for such year(s) delivered to Bank in accordance with Section 6.3(f).

Adjusted EBITDA. Borrower shall achieve a minimum Adjusted EBITDA, measured on a quarterly basis, in the following amounts: Fiscal Quarter Minimum Adjusted EBITDA Fiscal quarter ending September 30, 2013: $1,300,000 Fiscal quarter ending December 31, 2013: $1,600,000 Fiscal quarter ending March 31, 2014: $1,900,000 Fiscal quarter ending June 30, 2014: $1,250,000 Fiscal quarter ending September 30, 2014: $1,600,000 Fiscal quarter ending December 31, 2014: $1,800,000 Fiscal quarter ending March 31, 2015: $2,100,000 Fiscal quarter ending June 30, 2015: $2,600,000 2,200,000 Borrower shall achieve a minimum Adjusted EBITDA for the remaining fiscal quarters in 2015 2014 and beyond in such amounts as may be mutually agreed upon by Borrower and Bank with reference to Borrower’s annual operating projections for such year(s) delivered to Bank in accordance with Section 6.3(f).