Revenue Covenant. For each calendar quarter while this Agreement remains in effect, the Credit Parties shall have sales revenues for such calendar quarter that are not less than seventy-five percent (75%) of the sales revenues shown for the corresponding calendar quarter on the most recent of the Financial Statements (i.e. comparing third quarter results to the prior years’ third quarter results).
Revenue Covenant. For each calendar quarter while this Agreement remains in effect, Borrower shall have sales revenues that are not less than seventy-five percent (75%) of the sales revenues shown on the most recent of the Financial Statements.
Revenue Covenant. Any failure of a Participant to meet its obligations hereunder or to cure such failure in a timely manner shall constitute a Default and the Defaulting Party shall be subject to such remedies of NCPA as provided for herein. Each Participant covenants and agrees (i) to continue to pay or advance to NCPA, from its electric department revenues only or, in the case of BART, its tariffs, fees or other sources of revenue, provided that such sources shall not include any sums derived from sources, the use of which is limited by law to expenditures other than operating expenses, its percentage share of the costs authorized by Participants in accordance with this Agreement in connection with its participation in the Project. Each Participant further agrees that it will fix the rates and charges for services provided by its electric department, or in the case of BART, its general revenues, so that it will at all times have sufficient money in its department revenue funds to meet this obligation; (ii) to make payments under this Agreement from the Revenues of, and as an operating expense of, its Electric System, or in the case of BART, its general revenues; (iii) to make payments under this Agreement whether or not there is an interruption in, interference with, or reduction or suspension of services provided under this Agreement; such payments not being subject to any reduction, whether by offset or otherwise, and regardless of whether any dispute exists provided such interruption, interference or reduction in services is caused by forces constituting an Act of God and not reasonably contemplated by the Parties; and (iv) to operate its Electric System., or in the case of BART, its transit system, in an efficient manner and to maintain its facilities in good repair, condition and working order so that: (a) the Participant’s obligations to make payments under this Agreement are not adversely affected or threatened; and (b) NCPA’s bond rating and ability to negotiate and enter into a .PPA are not adversely affected or threatened.
Revenue Covenant. Any failure of a Participant to meet its obligations hereunder or to cure such failure in a timely manner shall constitute an Event of Default and the Defaulting Party shall be subject to such remedies of NCPA as provided for herein. Each Participant covenants and agrees (i) to continue to pay or advance to NCPA, from its electric department revenues only, its percentage share of the costs authorized by Participants in accordance with this Agreement in connection with its participation in the Project. Each Participant further agrees that it will fix the rates and charges for services provided by its electric department, so that it will at all times have sufficient money in its department revenue funds to meet this obligation; (ii) to make payments under this Agreement from the Revenues of, and as an operating expense of, its Electric System; (iii) to make payments under this Agreement whether or not there is an interruption in, interference with, or reduction or suspension of services provided under this Agreement; such payments not being subject to any reduction, whether by offset or otherwise, and regardless of whether any dispute exists provided such interruption, interference or reduction in services is caused by forces constituting a force majeure1 and not reasonably contemplated by the Parties; and (iv) to operate its Electric System in an efficient manner and to maintain its facilities in good repair, condition and working order so that: (a) the Participant’s obligations to make payments under this Agreement are not adversely affected or threatened; and
Revenue Covenant. Borrower shall have cash flow and revenue projections that are not less than seventy-five percent (75%) of the cash flow and revenue projections shown on the financial projections provided by Borrower to Lender as part of Lender’s due diligence.
Revenue Covenant. Have earned for each fiscal quarter during the periods set forth on Schedule 7.19A, Revenue of not less than the applicable amount shown on Schedule -------------- -------- 7.19A. ----- Notwithstanding the requirement set forth above, Borrower will not be required to meet the Revenue Test in this Section 7.19A for any fiscal quarter ending after the Borrower's EBTDA has exceeded zero for two successive fiscal quarters.
Revenue Covenant. Minimum Revenue Covenant under the Credit Agreement to be deferred until Q4 2024, and levels to be reset as set forth on Annex I to this Exhibit A. For the avoidance of doubt, for purposes of the Minimum Revenue Covenant, Revenue shall only include Igalmi U.S. product net revenues but exclude EUA contract revenues. Interest Rate: Interest rate on all Loans will be changed to 3-month Term SOFR + 7.50% (with a 2.50% SOFR floor and a 5.50% SOFR cap).
Revenue Covenant. Beginning with the first quarter of 2014, for each calendar quarter while this Agreement remains in effect, Borrowers shall have sales revenues for such calendar quarter that are not less than seventy-five percent (75%) of the sales revenues shown for the corresponding calendar quarter on the most recent of the Financial Statements (i.e. comparing third quarter results to the prior years’ third quarter results).
Revenue Covenant. For each calendar quarter while this Agreement remains in effect, Borrowers, collectively, shall have at least ten percent (10%) growth in revenues over the preceding rolling twelve-month period, as evidenced by Borrowers’ financial statements as filed with the SEC or as otherwise required to be delivered hereunder.
Revenue Covenant. (i) For the fiscal quarters ending September 30, 2025 and December 31, 2025, the Loan Parties shall maintain Trailing Six-Month Ensifentrine Revenues, tested as of the last day of each such fiscal quarter, of greater than or equal to the lesser of (x) [***] and (y) the Forecast Revenues corresponding to the applicable period.
