Profitable Operations definition

Profitable Operations means the point in time at which Consolidated Cash Flow for a consecutive six month period equals at least 200% of Consolidated Interest Expense for such six month period, to the extent such status has been demonstrated in a certificate of the General Manager delivered to the Trustee and the Collateral Agent, accompanied by a certificate of the Company's independent accountants confirming such results based on a review conducted by such accountants.
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Profitable Operations means Gaiam and all of the Consolidated Subsidiaries have, in the aggregate, achieved positive net income based on the most recent 10K report filed by Borrower with the Securities and Exchange Commission, or based on such comparable information as may be required by Lender in the event Borrower is not required to file a 10K report.
Sample 1

Examples of Profitable Operations in a sentence

  • Until the earlier of the third anniversary of the Issue Date and the date upon which the Company achieves Profitable Operations, the Company shall not permit the aggregate amount of the accounts receivable of it and its subsidiaries from non-Credit Qualified Purchasers to exceed U.S.$10 million at any one time outstanding.

  • History of Losses and No Assurance of Profitable Operations The Company has a history of losses and no assurance of profitable operations.

  • These Events of Default arise from: (i) a $28,711,000 increase in Borrower's allowance for uncollectible notes reflected in Borrower's 10-Q for the period ended March 31, 2003, which caused Borrower to violate the Interest Coverage and Profitable Operations covenants set forth in Sections 7.1(cc)(iv) and (v) of the Loan Agreement; and (ii) the retirement of certain subordinated debt pursuant to that certain Note Purchase and Release Agreement with eight entities and individuals affiliated with Xxxxx X.

  • At, and measured as of, the end of each Fiscal Year, Profitable Operations.

  • The Profitable Operations financial covenant set forth in Section 10(f)(v) of the Fourth Amendment to Supplemental Loan is hereby amended and restated as follows: Borrower will not permit Consolidated Net Income to be less than $1.00 for (A) any fiscal year, commencing with the fiscal year ending December 31, 2002, and (B) any two consecutive fiscal quarters (which quarters shall be measured on an individual rather than a cumulative basis).

  • The Profitable Operations financial covenant set forth in Section 10(f)(v) of the Fourth Amendment to Supplemental Loan is hereby amended to add the following sentences thereto.

  • History of Substantial Losses and No Assurance of Profitable Operations The Company has incurred losses since inception of $18.8 million through June 30, 2006.

  • These Events of Default arise from: (i) a $28,711,000 increase in Borrower's allowance for uncollectible notes reflected in Borrower's 10-Q for the period ended March 31, 2003, which caused Borrower to violate the Interest Coverage and Profitable Operations covenants set forth in Sections 7.1(bb)(iv) and (v) of the Loan Agreement; and (ii) the retirement of certain subordinated debt pursuant to that certain Note Purchase and Release Agreement with eight entities and individuals affiliated with Xxxxx X.

  • History of Losses and No Assurance of Profitable Operations The Company has incurred cumulative losses since inception of $111,158,000 through June 30, 2016, which includes $77,344,000 of exploration and development expenditures on the Prairie Creek property and $3,707,000 on the central Newfoundland properties all of which has been expensed in accordance with the Company’s accounting policies.

  • See "Risk Factors - Significant Leverage; Inability to Service New Note Indebtedness; Lack of Profitable Operations." The Company believes it is in the best interests of the Company and the holders of Old Notes to restructure the Old Notes outside of bankruptcy.

Related to Profitable Operations

  • Operations means all the activities conducted by PURCHASER under this contract, including project work, logging, or post harvest activities; or the furnishing of all materials, equipment, labor, and incidentals necessary to successfully complete any individual item or the entire contract.

  • Production Operations means all operations conducted for the purpose of producing Petroleum from the Development Area after the commencement of production from the Development Area including the operation and maintenance of all necessary facilities therefor.

  • Exploration Operations means operations conducted in the Contract Area pursuant to this Contract in searching for Petroleum and in the course of an Appraisal Programme and shall include but not be limited to aerial, geological, geophysical, geochemical, palaeontological, palynological, topographical and seismic surveys, analysis, studies and their interpretation, investigations relating to the subsurface geology including structural test drilling, stratigraphic test drilling, drilling of Exploration Xxxxx and Appraisal Xxxxx and other related activities such as surveying, drill site preparation and all work necessarily connected therewith that is conducted in connection with Petroleum exploration.

  • Business operations means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.

  • Drilling operations means the drilling of an oil and gas well and the production and completion operations ensuing from the drilling which require entry upon the surface estate and which were commenced after June 30, 1979, and oil and gas geophysical and seismograph exploration activities commenced after June 30, 1983.

  • Mining Operations means every kind of work done by the Operator:

  • Branch operations means any business operations of a branch captive insurance company in this State.

  • Development Operations means operations conducted in accordance with the Development Plan and shall include, but not be limited to the purchase, shipment or storage of equipment and materials used in developing Petroleum accumulations, the drilling, completion and testing of Development Xxxxx, the drilling and completion of Xxxxx for Gas or water injection, the laying of gathering lines, the installation of offshore platforms and installations, the installation of separators, tankages, pumps, artificial lift and other producing and injection facilities required to produce, process and transport Petroleum into main Oil storage or Gas processing facilities, either onshore or offshore, including the laying of pipelines within or outside the Contract Area, storage at Delivery Point(s), the installation of said storage or Gas processing facilities, the installation of export and loading facilities and other facilities required for the development and production of the said Petroleum accumulations and for the delivery of Crude Oil and/or Gas at the Delivery Point and also including incidental operations not specifically referred to herein but required for the most efficient and economic development and production of the said Petroleum accumulations in accordance with modern oilfield and petroleum industry practices.

  • Joint Operations means all operations necessary or proper for the development, operation, protection and maintenance of the Joint Property.

  • Projects means the projects identified in Exhibit A to the Agreement and all other projects, any costs of which are included in a Transitional Capital Plan pursuant to the Act or are Recovery Costs, and financed, by payment or reimbursement, with the proceeds of Bonds or Notes.

  • Petroleum Operations means, as the context may require, Exploration Operations, Development Operations or Production Operations or any combination of two or more of such operations, including construction, operation and maintenance of all necessary facilities, plugging and abandonment of Xxxxx, safety, environmental protection, transportation, storage, sale or disposition of Petroleum to the Delivery Point, Site Restoration and any or all other incidental operations or activities as may be necessary.

  • Operating System refers to the software that manages Hardware for Programs and other software.

  • Financial Services Business for purposes of this Unit Agreement shall mean the business of banking, including deposit, credit, trust and investment services, mortgage banking, asset management, and brokerage and investment banking services. (C) The term "Managerial Responsibilities" for purposes of this Unit Agreement shall mean managerial and supervisory responsibilities and duties that are substantially the same as that Grantee is performing for SunTrust or a SunTrust Affiliate on the date of this Unit Agreement. (D) The term "SunTrust Affiliate" for purposes of this Unit Agreement shall mean any corporation which is a subsidiary corporation (within the meaning of §424(f) of the Code) of SunTrust except a corporation which has subsidiary corporation status under §424(f) of the Code exclusively as a result of SunTrust or a SunTrust Affiliate holding stock in such corporation as a fiduciary with respect to any trust, estate, conservatorship, guardianship or agency. (E) The term "Territory" for purposes of this Unit Agreement shall mean the states of Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia, and the District of Columbia, which are the states and Territories in which SunTrust has significant operations on the date of this Unit Agreement. (F) "Trade Secret" for purposes of Unit Agreement shall mean information, including, but not limited to, technical or nontechnical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers that: (i) derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from it is disclosure or use, and (ii) is the subject of reasonable efforts by SunTrust or a SunTrust Affiliate to maintain its secrecy.

  • Operations Plan means the document by which PURCHASER notifies STATE of the plans and schedule for completing the operations described in the contract. It also contains the names of the subcontractors, PURCHASER's Authorized Representatives, and STATE's Authorized Representatives. Permit means any permit required by a federal, state, or local government agency before operations under this contract may lawfully begin or continue. Permit includes an incidental take permit under the federal Endangered Species Act.

  • Restricted business operations means business operations in Sudan that include power production activities, mineral extraction activities, oil-related activities, or the production of military equipment, as those terms are defined in the Sudan Accountability and Divestment Act of 2007 (Pub. L. 110-174). Restricted business operations do not include business operations that the person (as that term is defined in Section 2 of the Sudan Accountability and Divestment Act of 2007) conducting the business can demonstrate—

  • Operating or "Operation" means to provide (or the provision of) all the operation, engineering, purchasing, repair, supervision, training, inspection, testing, protection, use, management, improvement, replacement, refurbishment, retirement, and maintenance activities associated with operating the Generating Facility in accordance with Prudent Electrical Practices.

  • Mining operation means any operations undertaken for the purpose of winning any mineral as defined in section 3 (d) of Mines and Minerals (Development and Regulation) Act, 1957.

  • Discontinued Operations means operations that are accounted for as discontinued operations pursuant to Applicable GAAP of the Issuer for which the Disposal of such assets has not yet occurred.