Sustained Profitability definition

Sustained Profitability means (a) positive Net Operating Income for any ----------------------- consecutive 30 day period after June 1, 1999 and (b) bona fide and well founded projections of positive Net Operating Income for the four (4) months following such period of positive Net Operating Income.
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Sustained Profitability has the meaning set forth in the Share Purchase Agreement. The Company's obligation to pay such signing bonus shall immediately expire in the event Employee's employment is terminated for any reason set forth in the attached Employment Agreement prior to the date such bonus is payable by Company. EXHIBIT B --------- Stock Restriction Agreement EXHIBIT C --------- Request for Post-Employment Allowance This request for severance allowance is made by _________________ (hereinafter "the Employee") pursuant to the provisions of the Employment Agreement (the "Agreement") between the Employee on the one hand, and Intek Information, Inc. and Acorn Information Services, Inc. on the other (hereinafter collectively "the Company").
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Sustained Profitability means the satisfaction of the following conditions for each of three (3) consecutive full fiscal years of Tenant during the Term: (i) Tenant has a fixed charge ratio of 3:1 (such fixed charge ratio being defined as the ratio of (a) Tenant's net income for before (i.e., without regard to) interest income, taxes and rent paid by Tenant in connection with the Leased Premises for each fiscal year, to (b) rent paid by Tenant in connection with the Leased Premises for each such fiscal year), (ii) Tenant has owners equity net of unamortized intangibles and goodwill (i.e., total assets less total liabilities and less any unamortized intangible assets and any good will) as of the end of each such fiscal year at least equal to Thirty-five Million Dollars ($35,000,000.00), and (iii) the current assets to current liabilities ratio as of the end of each such fiscal year is greater than 2.5:1 (i.e. current assets divided by current liabilities is greater than 2.50). The foregoing ratios and amounts for each fiscal year shall be determined based upon annual financial statements delivered to Landlord which shall have been prepared in accordance with generally accepted accounting principles consistently applied and audited and certified as such by an independent certified public accountant firm reasonably acceptable to Landlord.
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Examples of Sustained Profitability in a sentence

  • Upon the earlier of Acorn's --------------------- achievement of Sustained Profitability or November 30, 1999, Intek will obtain a release of the Key Shareholders from their obligations under their personal guaranties on loans provided to Acorn by The Chase Manhattan Bank ("Chase") and Fleet Bank ("Fleet").

  • Upon the earlier of Acorn's achievement of ----------- Sustained Profitability or November 30, 1999, Intek will (a) release the Key Shareholders from their obligations under their personal guaranties of the Bridge Loan and (b) reduce the interest rate on the Bridge Loan to six percent (6%) per annum effective as of the month following achievement of Sustained Profitability or November 30, 1999 (whichever is earlier) and until the Bridge Loan is paid in full.

  • We believe our demonstrated ability to operate successfully within these markets will facilitate our continued organic growth as the economies in our markets expand.·History of Sustained Profitability.

  • Escrow Agent shall make --------------------------------- distributions of the Sustained Profitability Consideration and the cash portion of the Contingent Earn-Out Consideration to each Shareholder in the percentages set forth in the attached Exhibits B, which Exhibit shall be amended by the Shareholders promptly upon any change to such percentages.

  • Upon the earlier of Acorn's ----------- achievement of Sustained Profitability or November 30, 1999, Etinuum will (a) release the Key Shareholders from their obligations under their personal guaranties of the Bridge Loan and (b) reduce the interest rate on the Bridge Loan to six percent (6%) per annum effective as of the month following achievement of Sustained Profitability or November 30, 1999 (whichever is earlier) and until the Bridge Loan is paid in full.

  • Upon the earlier of --------------------- Acorn's achievement of Sustained Profitability or November 30, 1999, Etinuum will obtain a release of the Key Shareholders from their obligations under their personal guaranties on loans provided to Acorn by The Chase Manhattan Bank ("Chase") and Fleet Bank ("Fleet").

Related to Sustained Profitability

  • Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.

  • Growth means the rating a school will receive based on longitudinally matched student data comparing current performance to the previous year’s for the purpose of determining student academic growth.

  • Outcomes means the Health and Wellbeing Outcomes prescribed by the Scottish Ministers in Regulations under section 5(1) of the Act;

  • Productivity as defined in ORS 427.005 means:

  • Core Business means any material line of business conducted by the Company and its Subsidiaries as of the Closing Date and any business directly related thereto.

  • Adjusted Net Operating Income or “Adjusted NOI” means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments:

  • Gross Operating Profit For any Fiscal Year, the excess of Gross Revenues for such Fiscal Year over Gross Operating Expenses for such Fiscal Year.

  • Net Operating Income With respect to any Mortgaged Property, for any Mortgagor’s fiscal year end, Net Operating Income will be calculated in accordance with the standard definition of “Net Operating Income” approved from time to time endorsed and put forth by CREFC®.

  • Sustainability means the use, development, and protection of resources at a rate and in a manner that enables people to meet their current needs while allowing future generations to meet their own needs; “sustainability” requires simultaneously meeting environmental, economic and community needs.

  • Adjusted Total Assets means, for any Person, the sum of:

  • 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.

  • Earnings from Operations for any period means net earnings excluding gains and losses on sales of investments, extraordinary items and property valuation losses, as reflected in the financial statements of the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.