Financial Covenants Required Actual Complies. Maintain as indicated Minimum Liquidity Ratio (when required; monthly – quarterly if no outstanding Advances) 2.00:1.00 :1.00 Yes No Minimum Fixed Charge Coverage Ratio (when required) 1.50:1.00 :1.00 Yes No Minimum EBITDA (no worse than) (when required) ($7,000,000) $ Yes No * See Loan Agreement Performance Pricing/ Streamline Period Streamline Requirement Met? See Loan Agreement Yes No Yes, interest rate on Advances equal to the Prime Rate No, interest rate on Advances equal to the Prime Rate plus one and one-quarter percent (1.25%) Borrower is party to, or bound by, the following material Restricted Licenses that were not previously noted in the Perfection Certificate or a prior Compliance Certificate: . Borrower intends to register the following copyrights or mask works with the United States Copyright Office that were not previously noted in a prior Compliance Certificate: . Borrower has (i) obtained the following Patents, registered Trademarks, registered Copyrights, registered mask work, or any pending application for any of the foregoing, whether as owner, licensee or otherwise, and (ii) applied for the following Patents and the registration of the following Trademarks; in each case, that were not previously noted in the Perfection Certificate or a prior Compliance Certificate (to be reported on as part of the Compliance Certificate due following the last month of each fiscal quarter): . 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.”) ATRICURE, INC. ATRICURE, LLC ENDOSCOPIC TECHNOLOGIES, LLC BANK USE ONLY Received by: AUTHORIZED SIGNER Date: By: Name: Verified: Title: AUTHORIZED SIGNER Date: Compliance Status: Yes No Schedule 1 to Compliance Certificate Financial Covenants of Borrower In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern. Dated:
Financial Covenants Required Actual Complies. Minimum EBITDA (tested quarterly) * $ YES NO Minimum Liquidity Ratio (tested monthly) 1.10:1.00 _______:________ YES NO Minimum Cash on deposit with Agent or Lenders ** $ YES NO
Financial Covenants Required Actual Complies. Borrower has: Definitive agreement by February 28, 2019 and closed and funded by April 15, 2019 for: (a) milestone or up-front payments in the aggregate amount of at least $4,000,000 and (b) securing at least 1 new pharmaceutical partnership Yes No
Financial Covenants Required Actual Complies. TO BE TESTED QUARTERLY, UNLESS OTHERWISE NOTED: Minimum Recurring Subscription Revenue See Section 6.8 $__________________________ YES NO
Financial Covenants Required Actual Complies. Maintain at all times: Adjusted Quick Ratio (at all times) (tested monthly) > 1.20:1.0 _____:1.0 Yes No Adjusted EBITDA (tested quarterly) > _______* $ _______ Yes No * As set forth in Section 6.9(b) of the Agreement 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.”) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TELARIA, INC. By: Name: Title: BANK USE ONLY Received by: _____________________ AUTHORIZED SIGNER Date: _________________________ Verified: ________________________ AUTHORIZED SIGNER Date: _________________________ Compliance Status: Yes No
Financial Covenants Required Actual Complies. Maintain as indicated Liquidity Ratio (certified monthly or quarterly) (subject to Section 6.9(a)) 1.35:1.00 :1.00 Yes/No/NA Borrower is party to, or bound by, the following material Restricted Licenses that were not previously noted in the Perfection Certificate or a prior Compliance Certificate: _________________________________________________________________________ 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.”) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ The statements contained in this Certificate are made solely to my knowledge as an officer of the Borrower and are not made in any personal capacity and are not intended to impose personal liability on me. ATRICURE, INC.ATRICURE, LLC By: Name: Title: BANK USE ONLY Received by: _____________________AUTHORIZED SIGNERDate: _________________________ Verified: ________________________AUTHORIZED SIGNERDate: _________________________ Compliance Status: Yes No
Financial Covenants Required Actual Complies. Minimum Consolidated Cash $10,000,000 $__________ Yes No N/A Minimum Adjusted Quick Ratio (tested quarterly) ______: 1.00 _____:1.00 Yes No N/A 2 Quarter Minimum EBITDA (tested quarterly) $___________ $__________ Yes No N/A Total Leverage Ratio as of _________, 201_: _________: 1.00. Please Enter Below Comments Regarding Violations: The Officer further acknowledges that at any time Borrower is not in compliance with all the terms set forth in the Agreement, including, without limitation, the financial covenants, no credit extensions will be made. Very truly yours, XXXXXXX TECHNOLOGIES, INC. Authorized Signer Name: _____________________________
Financial Covenants Required Actual Complies. Maintain on a monthly basis Adjusted Quick Ratio 1.15:1.00 :1.00 Yes No The following financial covenant analysis and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.
Financial Covenants Required Actual Complies. Maintain as indicated: Adjusted Quick Ratio (tested quarterly) See attached schedule See attached schedule Yes No Adjusted EBITDA (tested quarterly) See attached schedule See attached schedule Yes No Performance Pricing
Financial Covenants Required Actual Complies. Maintain on a Monthly Basis: Current Ratio of at least* :1.00 :1.00 Yes No * See Section 6.9(a). Performance Pricing Applies Streamline Eligible (a) Prime or (b) LIBOR plus 2.75% Yes No Not Streamline Eligible Prime + 1.0% Yes No
