Consecutive Losses Sample Clauses

Consecutive Losses. (a) If the Company generates net losses for three straight years, the Shareholders shall meet in person, on two separate occasions within a two-month period, to discuss in good faith and to formulate a plan to bring the Company to profitability. If the Shareholders are unable to agree on such a plan at these two meetings, VIA may purchase all Shares held by Toppan for 100% of those Shares’ Net Asset FMV (i.e., Toppan’s shareholder percentage multiplied by the Company’s Net Asset FMV) and Toppan may cause VIA to purchase all Shares held by Toppan for 100% of those Shares’ Net Asset FMV (i.e., Toppan’s shareholder percentage multiplied by the Company’s Net Asset FMV).
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Consecutive Losses. The Borrowers, on a consolidated basis, shall not suffer a Net Loss in any two (2) consecutive fiscal quarters..
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Consecutive Losses. Permit any "Loss" to exist on a rolling two-quarter basis. For purposes of this covenant, "Loss" shall mean as of any date of computation any negative number resulting from the computation of net income for the previous two quarters, as computed in accordance with GAAP (excluding within the computation of net income all extraordinary and non-recurring charges to income).
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Consecutive Losses. Borrower will not realize any negative Net Income in any two consecutive fiscal quarters.
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Consecutive Losses. The Borrowers shall not suffer two (2) consecutive fiscal quarters of losses, as determined on a consolidated basis in accordance with GAAP.
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Consecutive Losses. Commencing on July 1, 2002, permit any "Loss" to exist on a rolling two-quarter basis, to be tested at the end of each quarter beginning with the quarter ending December 31, 2002. For purposes of this covenant, "Loss" shall mean as of any date of computation any negative number resulting from the computation of net income for the previous two calendar quarters, as computed in accordance with GAAP (excluding within the computation of net income all extraordinary and non-recurring charges to income).
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Consecutive Losses. A new Section 5.1(s) is hereby added to read in its entirety as follows:
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Consecutive Losses. Permit any "Loss" to exist on a rolling two-quarter basis, to be tested at the end of each calendar quarter beginning with the calendar quarter ending March 31, 2003. For purposes of this covenant, and only for purposes of this covenant, (i) "Loss" shall mean as of any date of computation any negative number resulting from the calculation of Net Income for each of the previous two calendar quarters as calculated separately, as computed in accordance with GAAP, and (ii) the computation of "Net Income" shall exclude all extraordinary and non-recurring charges to income, including without limitation, restructuring charges, charges for discontinued operations, charges for changes in accounting method, and charges relating to future cost savings, in each case as determined by the Borrower in good faith.
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Related to Consecutive Losses

  • Fiscal Periods Change its fiscal year-end and fiscal quarter-ends to dates other than December 31 and the last day of each March, June, September and December, respectively.

  • consecutive months An Employee will receive a year of Service for vesting purposes for each twelve (12)

  • different Interest Periods If the Agent does not receive a Borrowing Notice or an Interest Rate Selection Notice giving notice of election of the duration of an Interest Period or of Conversion of any Loan to or Continuation of a Loan as a Eurodollar Rate Loan by the time prescribed by Section 2.1(c) or 2.8, the Borrower shall be deemed to have elected to Convert such Loan to (or Continue such Loan as) a Base Rate Loan until the Borrower notifies the Agent in accordance with Section 2.8.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Number of Interest Periods There may be no more than 6 different Interest Periods for LIBOR Loans outstanding at the same time.

  • Interest Coverage The Borrower shall not permit the ratio of (i) Consolidated EBITDA of the Borrower for any four fiscal quarter period ending on or after June 30, 2008 to (ii) Consolidated Cash Interest Expense of the Borrower for such period to be less than 3.25 to 1.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Total Assets Based on total assets at period end. Used primarily to allocate costs associated with the oversight and safeguarding of corporate assets. This would include services provided by financial management and certain finance functions, among others. Also used when the services provided are driven by the relative size and complexity of the System Companies and there is no functional relationship between the services and any other available allocation formula. BNK - BANK ACCOUNTS Based on the number of bank accounts at period end. Used for the allocation of costs associated with daily cash management activities.

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