Minimum Adjusted EBITDA. During any calendar quarter during which the sum of Borrower’s unrestricted cash and Cash Equivalents at Bank falls below the Testing Threshold at any time during such calendar quarter (each, a “Testing Quarter”), Borrower shall achieve, on a consolidated basis with respect to Borrower and its Subsidiaries, Adjusted EBITDA tested on the last day of such Testing Quarter, of not less than the amounts set forth in the chart below for the corresponding measuring period: Period Ending Minimum Adjusted EBITDA (maximum Adjusted EBITDA loss) Measuring Period June 30, 2021 ($17,000,000) Trailing 6 months September 30, 2021 ($24,500,000) Trailing 9 months December 31, 2021 ($32,500,000) Trailing 12 months The required minimum Adjusted EBITDA covenant levels for the measuring periods ending after December 31, 2021, shall be set by Bank based on Borrower’s projections delivered to Bank in accordance with Section 6.3(f) hereof and acceptable to Bank. The new covenant levels shall be documented in an amendment to this Agreement to be entered into on or prior to March 15, 2022. Borrower’s failure to enter into such amendment to this Agreement to reset such covenant levels on or prior to March 15, 2022 shall be an immediate and non-curable Event of Default hereunder.”
Minimum Adjusted EBITDA. As of any date of determination from and after April 1, 2008, if Borrowers do not have Net Debt in an amount less than $4,000,000 at all times during the most recently completed fiscal quarter, then Borrowers shall not fail to achieve Adjusted EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto (and the failure to do so shall be deemed an Event of Default): Applicable Amount Applicable Period $(1,234,000) For the 3 month period ending March 31, 2008 $(1,246,000) For the 6 month period ending June 30, 2008 $(200,000) For the 9 month period ending September 30, 2008 $(839,000) For the 12 month period ending December 31, 2008 $(750,000) For the 12 month period ending March 31, 2009 17 Applicable Amount Applicable Period $(500,000) For the 12 month period ending June 30, 2009 $(150,000) For the 12 month period ending September 30, 2009 $150,000 For the 12 month period ending December 31, 2009 $350,000 For the 12 month period ending March 31, 2010 $550,000 For the 12 month period ending June 30, 2010 $750,000 For the 12 month period ending September 30, 2010 $950,000 For the 12 month period ending December 31, 2010 and for each 12 month period ending as of the last day of each fiscal quarter thereafter
Minimum Adjusted EBITDA. The Parent and its Subsidiaries, on a consolidated basis, will be required to maintain a minimum Adjusted EBITDA which will be measured quarterly on a rolling four quarter basis as follows: Each Quarter Ending During the Period Minimum TTM Adjusted EBITDA December 31, 2005 through December 30, 2006 $ 17.5 million December 31, 2006 through December 30, 2007 $ 18.8 million December 31, 2007 through December 30, 2008 $ 23.9 million December 31, 2008 through December 30, 2009 $ 33.7 million December 31, 2009 through Maturity $ 49.2 million
Minimum Adjusted EBITDA. Not permit Adjusted EBITDA for any Computation Period to be less than the applicable amount set forth below for such Computation Period: Computation Period Ending Adjusted EBITDA July 3, 2010 $ 2,100,000 October 2, 2010 $ 2,000,000 January 1, 2011 $ 500,000 April 2, 2011 $ (600,000 ) July 2, 2011 $ 2,100,000 ”
Minimum Adjusted EBITDA. The Borrower will maintain a minimum Adjusted EBITDA, tested quarterly on a rolling twelve month basis, as follows: 1Q17 $10,000,000 2Q17 $ 7,000,000 3Q17 $ 7,000,000 4Q17 $10,000,000 2018 Quarter-ends $ 9,000,000 2019 Quarter-ends $ 9,500,000
Minimum Adjusted EBITDA. Beginning with the Fiscal Quarter ending December 31, 2019, the Parent and each Borrower shall not permit EBITDA for the most recently ended four Fiscal Quarter period for which financial statements have been delivered pursuant to Section 6.1(a) or (b) to be less than the minimum amount set forth below as set forth opposite such ended Fiscal Quarter: Test Period End Date Adjusted EBITDA December 31, 2019 $ 430,000,000.00 March 31, 2020 $ 470,000,000.00 June 30, 2020 $ 530,000,000.00 September 30, 2020 $ 880,000,000.00 December 31, 2020 $ 960,000,000.00 March 31, 2021 $ 1,090,000,000.00 June 30, 2021 $ 1,210,000,000.00
Minimum Adjusted EBITDA. Borrower shall achieve Adjusted EBITDA (measured on a trailing twelve (12) month basis) of at least the amounts set forth in the table below for the corresponding measuring periods (tested as of the last day of each calendar quarter): Measuring Period Ending Minimum Adjusted EBITDA June 30, 2020 $10,000,000 September 30, 2020 $10,000,000 December 31, 2020 $10,000,000 March 31, 2021 $0 June 30, 2021 $0 September 30, 2021 $5,000,000 December 31, 2021 and for each calendar quarter thereafter $10,000,000
Minimum Adjusted EBITDA. Commencing with the Fiscal Month ending March 31, 2021 and until such time as all Obligations are paid, satisfied and discharged in full, the Credit Parties shall, as of the end of each Fiscal Month, have Adjusted EBITDA, calculated on a trailing three-month basis, of not less than the Minimum Adjusted EBITDA amount for the corresponding Fiscal Month end as set forth in the table below: Fiscal Month End Test Date Minimum Adjusted EBITDA March 31, 2021 $2,400,000 April 30, 2021 $2,171,000 May 31, 2021 $1,941,000 June 30, 2021 $1,483,000 July 31, 2021 $1,529,000 August 31, 2021 $1,575,000 September 30, 2021 $1,666,000 October 31, 2021 $1,734,000 November 30, 2021 $1,802,000 December 31, 2021 $1,938,000 January 31, 2022 $2,253,000 February 28, 2022 $2,568,000 March 31, 2022 $3,199,000 April 30, 2022 $2,911,000 May 31, 2022 $2,622,000 June 30, 2022 $2,046,000 July 31, 2022 $2,094,000 August 31, 2022 $2,141,000 September 30, 2022 $2,237,000
Minimum Adjusted EBITDA. As of the last day of each fiscal quarter of the Borrower, the Borrower shall maintain Adjusted EBITDA for the four fiscal quarters then ended of not less than $35,000,000.
Minimum Adjusted EBITDA. Company shall not permit Adjusted EBITDA for any four-Fiscal Quarter period ending at the end of any Fiscal Quarter set forth below to be less than the correlative amount indicated: MINIMUM ADJUSTED FISCAL QUARTER EBITDA ------------------------ ---------------- FQ2 2004 $40,000,000 FQ3 2004 $40,000,000 FQ4 2004 $40,000,000 FQ1 2005 $40,000,000 FQ2 2005 $40,000,000 FQ3 2005 $40,000,000 FQ4 2005 $45,000,000 FQ1 2006 $45,000,000 FQ2 2006 $45,000,000 FQ3 2006 $45,000,000 FQ4 2006 $45,000,000 FQ1 2007 $45,000,000 FQ2 2007 $45,000,000 FQ3 2007 $45,000,000 FQ4 2007 $45,000,000 FQ1 2008 $45,000,000 FQ2 2008 $45,000,000 FQ3 2008 $45,000,000 FQ4 2008 and thereafter $45,000,000 108
