Required Thresholds definition

Required Thresholds means that Tenant maintains the following: (i) unrestricted cash and short-term investments (as computed in accordance with generally accepted accounting principles consistently applied) of not less than Thirty Million and No/Dollars ($30,000,000.00); provided that following the date of Tenant’s payment in full of the Second Payment to Landlord, such amount shall be reduced to Twenty Million and No/Dollars ($20,000,000.00), and (ii) the book value of Tenant’s total then-current assets (as shown on Tenant’s financial statements and computed in accordance with generally accepted accounting principles consistently applied) shall be in excess of one hundred ten percent (110%) of the book value of Tenant’s total then-current liabilities (as shown on Tenant’s financial statements and computed in accordance with generally accepted accounting principles consistently applied). Tenant shall submit to Landlord, within thirty (30) days following the end of each calendar month following the date of this Agreement, a report prepared by Tenant (which report shall be certified by an independent certified public accountant or Tenant’s chief financial officer) which shall expressly include, without limitation, the amount of Tenant’s (A) then-current cash balance, and (B) then-current working capital. Additionally, Tenant shall submit to Landlord copies of Tenant’s quarterly 10-Q reports to the Securities and Exchange Commission within ten (10) business days of the filing of the same with the Securities and Exchange Commission. If Tenant fails to provide such reports or such 10-Q reports within ten (10) business days following its receipt of written notification from Landlord that the same was not received within such thirty (30) day period, then the Required Thresholds shall be deemed not to have been maintained, in which event Tenant shall immediately be required to deliver the L-C to Landlord in the then-applicable L-C Amount. If Tenant fails to provide the L-C to Landlord in the L-C Amount within ten (10) business days following written notice to Tenant that the same was not provided when due, then notwithstanding any contrary terms set forth in Section 5, above, the total amount of the then outstanding amount of the Termination Fee shall be due and payable in full to Landlord within five (5) business days following the expiration of the foregoing ten (10) business day period.
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Required Thresholds means, collectively, the maintenance of each of ( x ) Free Cash Flow for the Tenant entity of $0 to positive dollars, ( y ) an EBITDA Margin for the Tenant entity of no less than five percent (5.0%), and ( z ) Gross Profit Margin for the Tenant entity of no less than fifteen percent (15%).
Sample 1

Examples of Required Thresholds in a sentence

  • Notwithstanding anything in the Lease to the contrary, effective as of the first day of the Extended Term (i.e., September 1, 2017), (i) the required L-C Amount shall be reduced to the sum of One Hundred Thousand Ninety-One Thousand Five Hundred Twenty and No/100 Dollars ($191,520.00) (the "ET L-C Amount"), and (ii) Tenant shall be obligated to maintain an L-C in the ET L-C Amount throughout the Extended Term, regardless of the Required Thresholds otherwise set forth in Section 21.2 of the Lease.

  • In addition, to the extent (i) Tenant's financial condition does not satisfied the "Required Thresholds", as that term is set forth in SECTION 21.2.2.2, AND (ii) the cost of such Alterations exceeds $500,000.00, Landlord may require Tenant to obtain a lien and completion bond or any other commercially reasonable alternate form of security in connection with Tenant's construction and completion of any such Alterations.

  • Notwithstanding any provision of this Lease to the contrary, the Letter of Credit Amount shall be reduced by Two Hundred Twenty Thousand Six Hundred Fifty Nine and 70/100 Dollars ($220,659.70) (the “Reduction Amount”) up to a total of three (3) separate times upon delivery of a factually correct written notice to Landlord stating that, as of the date of such notice, Tenant satisfies the Required Thresholds as that term is defined below (each a “Reduction Notice”).

  • Notwithstanding any provision of this Lease to the contrary, the Letter of Credit Amount shall be reduced by Two Hundred Nineteen Thousand Six Hundred Fifty Nine and 10/100 Dollars ($219,613.20) (the “Reduction Amount”) up to a total of three (3) separate times upon delivery of a factually correct written notice to Landlord stating that, as of the date of such notice, Tenant satisfies the Required Thresholds as that term is defined below (each a “Reduction Notice”).

  • In the event Tenant maintains such Required Thresholds for two (2) consecutive financial quarters, Tenant shall be entitled to a fifty percent (50%) reduction of the L-C Amount.

  • For the purposes of this Article 22 , the “ Required Thresholds ” shall mean, collectively, the maintenance of each of ( x ) Free Cash Flow for the Tenant entity of $0 to positive dollars, ( y ) an EBITDA Margin for the Tenant entity of no less than five percent (5.0%), and ( z ) Gross Profit Margin for the Tenant entity of no less than fifteen percent (15%).

  • If Tenant fails to provide such reports or such 10-Q reports within ten (10) business days following its receipt of written notification from Landlord that the same was not received within such thirty (30) day period, then the Required Thresholds shall be deemed not to have been maintained, in which event Tenant shall immediately be required to deliver the L-C to Landlord in the then-applicable L-C Amount.

  • In the event Tenant maintains such Required Thresholds for four (4) consecutive financial quarters, Tenant shall be entitled to a one hundred percent (100%) reduction of the L-C Amount.

Related to Required Thresholds

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.

  • Stated Threshold means total losses under the shared loss agreements in the amount of $4 Billion ($4,000,000,000.00).

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • S&P Required Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a long-term unsecured and unsubordinated debt rating from S&P of “BBB+”.

  • Required Ratings Threshold means each of the S&P Required Ratings Threshold and the Moody’s Second Trigger Ratings Threshold.

  • S&P Approved Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, a short-term unsecured and unsubordinated debt rating from S&P of “A-1”, or, if such entity does not have a short-term unsecured and unsubordinated debt rating from S&P, a long-term unsecured and unsubordinated debt rating or counterparty rating from S&P of “A+”.

  • Ownership Threshold has the meaning specified in Section 2.1(a).

  • Threshold means with respect to Party B: infinity.

  • Threshold Percentage means 15%.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Moody’s Second Trigger Ratings Threshold means, with respect to Party A, the guarantor under an Eligible Guarantee or an Eligible Replacement, (i) if such entity has a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3” and a short-term unsecured and unsubordinated debt rating from Moody’s of “Prime-2”, or (ii) if such entity does not have a short-term unsecured and unsubordinated debt rating from Moody’s, a long-term unsecured and unsubordinated debt rating or counterparty rating from Moody’s of “A3”.

  • Micro-purchase threshold means the dollar amount at or below which a district may purchase property or services using micro-pur- chase procedures. Generally, the micro-purchase threshold for pro- curement activities administered under federal awards is not to ex- ceed the amount set by the Federal Acquisition Regulations (FAR) at 48 C.F.R. Part 2, Subpart 2.1 [see below], unless a higher threshold is requested by the district and approved by the cogni- zant agency for indirect costs.

  • Required Percentage As of any Distribution Date following the Stepdown Date, the quotient of (1) the excess of (A) the Stated Principal Balances of the Mortgage Loans as of such Distribution Date, over (B) the Certificate Principal Balance of the most senior Class of Certificates outstanding as of such Distribution Date, prior to giving effect to distributions to be made on such Distribution Date and (2) the Stated Principal Balance of the Mortgage Loans as of such Distribution Date.

  • Threshold Period shall have the meaning set forth in Section 6(d).

  • Requisite Amount has the meaning specified in the Spread Account Agreement.

  • Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Indemnity Threshold has the meaning set forth in Section 9.3.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Threshold Rating means the short-term unsecured debt rating of P-1 by Moody’s and the short-term issuer credit rating of A-1 by Standard & Poor’s.

  • Eligible Investment Required Ratings A long-term debt rating of at least “A+” by S&P or a long-term debt rating of at least “A” by S&P and a short-term debt rating of at least “A-1” by S&P.

  • Accelerated Purchase Minimum Price Threshold means, with respect to any Accelerated Purchase made pursuant to Section 2(b) hereof, any minimum per share price threshold set forth in the applicable Accelerated Purchase Notice.

  • Minimum Acceptable Price with respect to any Put Notice Date shall mean seventy-five percent (75%) of the lowest closing bid prices for the ten (10) Trading Day period immediately preceding such Put Notice Date.

  • Series Required Transferor Amount means an amount equal to 7% of the Invested Amount.