Common use of Financial Covenant Required Actual Complies Clause in Contracts

Financial Covenant Required Actual Complies. Maintain as indicated: Minimum Liquidity (at all times certified monthly) $5,000,000 $_______ Yes No Minimum Fixed Charge Coverage Ratio (tested quarterly, on a T3M basis * _____:1.0 Yes No Senior Leverage Ratio ** _____:1.0 Yes No * See Section 6.9(b) of the Loan Agreement ** See Section 6.9(c) of the Loan Agreement Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Prime + 1.75% (Revolving Line); Prime + 2.75% (Term Loan 2012) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGY, INC. et al. By: _____________________________ Name: ___________________________ Title: ____________________________ BANK USE ONLY Received by: _____________________ authorized signer Date: ___________________________ Verified: _________________________ authorized signer Date: ___________________________ Compliance Status: Yes No

Appears in 1 contract

Samples: Joinder and Second Loan Modification Agreement (Global Telecom & Technology, Inc.)

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Financial Covenant Required Actual Complies. Maintain as indicated: Minimum Liquidity (at all times certified monthly) $5,000,000 $_______ Yes No Minimum Fixed Charge Coverage Ratio (tested quarterly, on a T3M basis * _____:1.0 Yes No Senior Leverage Ratio ** _____:1.0 Yes No * See Section 6.9(b) of the Loan Agreement ** See Section 6.9(c) of the Loan Agreement Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Prime + 1.75% (Revolving Line); Prime + 2.753.50% (Term Loan 2012Loan) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.754.00% (Term Loan 2012Loan) Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGYGTT-EMEA, INCLTD. et al. By: _____________________________ Name: ___________________________ Title: ____________________________ BANK USE ONLY Received by: _____________________ authorized signer Date: ___________________________ Verified: _________________________ authorized signer Date: ___________________________ Compliance Status: Yes No

Appears in 1 contract

Samples: Second Loan Modification Agreement (Global Telecom & Technology, Inc.)

Financial Covenant Required Actual Complies. Maintain as indicatedon a Monthly Basis: Minimum Liquidity Modified Cumulative Net Income (at all times certified monthlyLoss) $5,000,000 _______* $_______ Yes No Minimum Fixed Charge Coverage Ratio * a Modified Cumulative Net Income of at least, (tested quarterly, i) on a T3M cumulative, year to date basis * _____:1.0 Yes No Senior Leverage Ratio ** _____:1.0 Yes No * See Section 6.9(bfor 2012, negative Three Million Dollars (-$3,000,000), (ii) on a trailing three (3) month basis from January 1, 2013 through March 31, 2013, an amount equal to at least eighty percent (80%) of Borrower’s projected Modified Cumulative Net Income for the Loan Agreement ** See applicable period, as set forth in Borrower’s annual financial projections delivered to Bank pursuant to Section 6.9(c6.2(v)(B), and (iii) of the Loan Agreement Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Prime + 1.75% on a trailing three (Revolving Line); Prime + 2.75% 3) month basis at all times thereafter, One Dollar (Term Loan 2012$1.00) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) Yes No The following financial covenant analyses analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGYEDGEWAVE, INC. et al. By: _____________________________ Name: ___________________________ Title: ____________________________ BANK USE ONLY Received by: _____________________ authorized signer Date: ___________________________ Verified: _________________________ authorized signer Date: ___________________________ Compliance Status: Yes No

Appears in 1 contract

Samples: Loan and Security Agreement (EdgeWave, Inc.)

Financial Covenant Required Actual Complies. Maintain as indicatedon a Monthly Basis: Minimum Liquidity Ratio At least 2.00 : 1.00 _____ : 1.00 Yes No Minimum EBITDA for any Test Period of 2 Consecutive Fiscal Quarters (at all times certified monthlycommencing with the Test Period ending on March 31, 2009) See Section 6.9(b) of the Non-Exim Loan Agreement EBITDA for Test Period most recently ended (“Last Quarter”): $5,000,000 $_________ Yes No Minimum Fixed Charge Coverage Ratio (tested quarterly, on a T3M basis * _____:1.0 Yes No Senior Leverage Ratio ** _____:1.0 Yes No * See Section 6.9(b) of the Loan Agreement ** See Section 6.9(c) of the Loan Agreement Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Prime + 1.75% (Revolving Line); Prime + 2.75% (Term Loan 2012) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) Yes No The following financial covenant analyses analys[is][es] and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGYZTI MERGER SUBSIDIARY III, INC. et al. By: _____________________________ Name: ___________________________ Title: ____________________________ ., a Delaware BANK USE ONLY corporation Received by: _____________________ authorized signer By AUTHORIZED SIGNER Name: Date: ___________________________ Title: Verified: _________________________ authorized signer ZHONE TECHNOLOGIES, INC., a Delaware AUTHORIZED SIGNER corporation Date: ___________________________ By Compliance Status: Yes NoNo Name: Title:

Appears in 1 contract

Samples: Loan and Security Agreement (Zhone Technologies Inc)

Financial Covenant Required Actual Complies. Maintain as indicatedindicated Adjusted Quick Ratio: Minimum Liquidity (at all times certified monthly) times, tested quarterly 2.00:1.00 _____:1.00 Yes No Cash Flow (Trailing Two Months)* ** $5,000,000 $_______ Yes No Minimum Fixed Charge Coverage Ratio (* Not tested quarterly, on a T3M basis * _____:1.0 Yes No Senior Leverage Ratio during Streamline Period ** _____:1.0 Yes No * See Section 6.9(b) of the Loan and Security Agreement ** See Section 6.9(c) of the Loan Agreement Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Prime + 1.75% (Revolving Line); Prime + 2.75% (Term Loan 2012) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGYMEDIDATA SOLUTIONS, INC. et alMEDIDATA FT, INC. By: ______________________________ Name: ___________________________ Title: ____________________________ BANK USE ONLY Received by: _____________________ authorized signer AUTHORIZED SIGNER Date: ___________________________ Verified: _________________________ authorized signer AUTHORIZED SIGNER Date: ___________________________ Compliance Status: Yes NoNo Schedule 1 to Compliance Certificate

Appears in 1 contract

Samples: Second Loan Modification Agreement (Medidata Solutions, Inc.)

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Financial Covenant Required Actual Complies. Maintain as indicated: Minimum Liquidity (Cash and Availability – at all times certified monthly) $5,000,000 $$ 3,000,000 $ ________ Yes No Minimum Fixed Charge Coverage Ratio (tested quarterly, on a T3M basis * quarterly 1.25:1.00 _____:1.0 1.00 Yes No Senior Leverage Ratio ** _____:1.0 Yes No * See Section 6.9(b) of the Performance Pricing: Fifth Loan Agreement ** See Section 6.9(c) of the Loan Agreement Modification Effective Date: Prime Rate plus 4.50%. Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Event #1: Prime + 1.75% (Revolving Line); Rate plus 3.50%. Performance Pricing Event #2: Prime + 2.75% (Term Loan 2012) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) Yes No Rate plus 1.50%. The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGYWORLD ENERGY SOLUTIONS, INC. et al. BANK USE ONLY By: Received by: _______________________________ Name: ___________________________ Title: AUTHORIZED SIGNER Date: ____________________________ BANK USE ONLY Received by: _____________________ authorized signer DateWORLD ENERGY SECURITIES CORP. By: Verified:__________________________________ VerifiedName: Title: AUTHORIZED SIGNER Date: _________________________ authorized signer Date: ___________________________ Compliance Status: Yes NoNo Schedule 1 to Compliance Certificate Financial Covenants of Borrower Dated: ________________________

Appears in 1 contract

Samples: Fifth Loan Modification and Waiver Agreement (World Energy Solutions, Inc.)

Financial Covenant Required Actual Complies. Maintain as indicated: Minimum Liquidity Adjusted Quick Ratio (at all times times, certified monthly) $5,000,000 $_______ Yes No Minimum Fixed Charge Coverage Ratio (tested quarterly, on a T3M basis * 1.25:1.0 _____:1.0 Yes No Senior Leverage Streamline Period Applies Adjusted Quick Ratio ** _____:1.0 > 1.50:1.00 Collections transferred to Borrower’s operating account at Bank Yes No * See Section 6.9(b) of the Loan Agreement ** See Section 6.9(c) of the Loan Agreement Performance Pricing Applies Senior Leverage Adjusted Quick Ratio < 2.00:1.00 Prime + 1.75% (Revolving Line); Prime + 2.75% (Term Loan 2012) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) 1.50:1.00 Collections applied to reduce the outstanding Advances Yes No The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGY-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Forescout Technologies, INC. et al. Inc. By: _____________________________ Name: ___________________________ Title: ____________________________ BANK USE ONLY Received by: _____________________ authorized signer AUTHORIZED SIGNER Date: ___________________________ Verified: _________________________ authorized signer AUTHORIZED SIGNER Date: ___________________________ Compliance Status: Yes NoNo Schedule 1 to Compliance Certificate

Appears in 1 contract

Samples: Loan and Security Agreement (Forescout Technologies, Inc)

Financial Covenant Required Actual Complies. EBITDA Maintain as indicatedon a Quarterly Basis: Minimum Liquidity 1/1/10 through 3/31/10 (at all times certified monthly$2,100,000) $5,000,000 _______ Yes No 4/1/10 through 6/30/10 ($1,100,000) $_______ Yes No 7/1/10 through 9/30/10 ($500,000) $_______ Yes No 10/1/10 through 12/31/10 $1,750,000 $_______ Yes No Minimum Fixed Charge Coverage Ratio EBITDA for QE 3/31/11 and each quarter thereafter will be set following Bank’s receipt of 2011 Board Plan Minimum Domestic Liquidity Greater of (tested quarterlya) 20% consolidated cash, on a T3M basis * _____:1.0 Yes No Senior Leverage Ratio ** _____:1.0 Yes No * See Section 6.9(bcash equivalents and short-term investments, and (b) 15% of the Loan Agreement ** See Section 6.9(c) of the Loan Agreement Performance Pricing Applies Senior Leverage Ratio < 2.00:1.00 Prime + 1.75% (Revolving Line); Prime + 2.75% (Term Loan 2012) Yes No Senior Leverage Ratio > 2.00:1.00 Prime + 2.75% (Revolving Line); Prime + 3.75% (Term Loan 2012) outstanding Obligations Yes No The following financial covenant analyses analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate. The following are the exceptions with respect to the certification above: (If no exceptions exist, state “No exceptions to note.”) GLOBAL TELECOM & TECHNOLOGY, INC. et al. Glu Mobile Inc. BANK USE ONLY Received by: _______________________________ AUTHORIZED SIGNER By: :_________________________________________ Name: ______________________________________ Title: Date:______________________________________ BANK USE ONLY Received byTitle: _____________________ authorized signer Date: ___________________________ Verified: ___________________________________ authorized signer DateAUTHORIZED SIGNER Compliance Status: Yes No Schedule 1 to Compliance Certificate Financial Covenants of Borrower Dated: ___________________________ Compliance Status: Yes No

Appears in 1 contract

Samples: Loan and Security Agreement (Glu Mobile Inc)

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