Minimum Cumulative EBITDA Clause Samples
The Minimum Cumulative EBITDA clause sets a required threshold for the total earnings before interest, taxes, depreciation, and amortization (EBITDA) that a company must achieve over a specified period. Typically, this clause is used in loan agreements or investment contracts to ensure the company maintains a certain level of financial performance, with periodic reviews to confirm compliance. By establishing this financial benchmark, the clause helps protect lenders or investors by providing an early warning if the company's profitability falls below expectations, thereby allowing for corrective actions or triggering default provisions if necessary.
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Minimum Cumulative EBITDA. The Parent shall not have, on each date listed below, a cumulative Consolidated EBITDA for the period starting on April 1, 2007 and ending on such date less than the minimum amount set forth opposite such date: June 30, 2007 $ 3,300,000 September 30, 2007 $ 8,000,000 December 31, 2007 $ 14,300,000 March 31, 2008 $ 21,800,000
Minimum Cumulative EBITDA. The Borrower shall maintain EBITDA (which is calculated only with respect to the Borrower and its Subsidiaries' North American operations) for each period commencing on July 1, 2002 and ending on a date set forth below at not less than the amount set forth below immediately to the right of such period: CUMULATIVE EBITDA MUST EQUAL OR FOR PERIOD ENDED EXCEED: July 31, 2002 ($157,000) August 31, 2002 $1,560,000 September 30, 2002 $3,198,000
Minimum Cumulative EBITDA. Maintain a Minimum Cumulative EBITDA (defined as earnings before interest, taxes, depreciation, and amortization) of no less than $950,000.00 as of March 31, 2012; $1,800,000.00 as of June 30, 2012; $1,900,000.00 as of September 30, 2012; and $2,000,000.00 as of December 31, 2012.
Minimum Cumulative EBITDA. As of each date set forth below, permit the cumulative EBITDA for the period from and including February 1, 2016 to and including such date set forth below to be less than the amount set forth opposite such date: March 31, 2016 $ 3.7 million April 30, 2016 $ 12.0 million May 31, 2016 $ 27.0 million June 30, 2016 $ 30.3 million July 31, 2016 $ 43.5 million August 31, 2016 $ 58.4 million September 30, 2016 $ 75.6 million October 31, 2016 $ 88.1 million November 30, 2016 $ 104.9 million December 31, 2016 $ 123.3 million
Minimum Cumulative EBITDA. Not permit cumulative EBITDA for any period beginning on July 1, 2003 and ending on the last day of any month thereafter to be less than the applicable amount set forth below: July 31, 2003 $ (651,000 ) August 31, 2003 $ (588,000 ) September 30, 2003 $ (441,000 ) October 31, 2003 $ (250,000 ).
Minimum Cumulative EBITDA. Commencing with the end of the third fiscal quarter of the 2003 fiscal year, the Borrower shall not permit EBITDA as of the last day of any fiscal quarter to be less than the cumulative amount set forth opposite the relevant fiscal quarter in the following table: Fiscal Quarter Cumulative EBITDA Third Quarter 2003 ($22,000,000) Fourth Quarter 2003 ($4,000,000) First Quarter 2004 $40,000,000"
Minimum Cumulative EBITDA. Permit as of the last day of each month, the Consolidated EBITDA for the Applicable Measurement Period ended on the last day of such month to be less than the amount specified below for such month: December 2009 $ 4,500,000 January 2010 $ 11,500,000 February 2010 $ 19,000,000 March 2010 $ 23,000,000 April 2010 $ 30,000,000 May 2010 $ 37,000,000 June 2010 $ 43,000,000 ; provided that each of the financial covenants set forth in this Section 8.1 will be calculated applying the Fresh Start Accounting Adjustment and eliminating the effects of all Disregarded Items.
Minimum Cumulative EBITDA. Permit Consolidated EBITDA of Holdings and its ------------------------- Subsidiaries (excluding, for the avoidance of doubt, the add-backs specified in the second proviso of the definition of "Consolidated EBITDA") for the period beginning on the first day of FQ4 2000 and ending with any fiscal quarter set forth below to be less than the amount set forth below opposite such fiscal quarter: Fiscal Quarter Consolidated EBITDA -------------- ------------------- FQ4 2000 $ 6,900,000.00 FQ1 2001 $13,600,000.00 FQ2 2001 $23,500,000.00 FQ3 2001 $34,400,000.00 FQ4 2001 $47,000,000.00 ; provided, that for the purposes of determining the Consolidated EBITDA, if the -------- Borrower sells ▇▇▇▇▇▇ Housewares, Inc. or Berkel, Inc. prior to the end of any fiscal quarter set forth above, (i) the amount set forth above opposite such fiscal quarter shall be adjusted based upon amounts previously submitted in writing to the Administrative Agent and Lenders and (ii) the actual contribution to Consolidated EBITDA for such period by the entity sold shall be subtracted from actual Consolidated EBITDA for such period.
Minimum Cumulative EBITDA. As of any calendar month end set forth below, permit EBITDA for the period of January 1, 2001 through and including such calendar month end to be less than the corresponding amount set forth below: Period Amount ------ ------ March 31, 2001 $ 3,271,000.00 April 30, 2001 $ 5,366,000.00 May 31, 2001 $ 7,760,000.00 June 30, 2001 $11,171,000.00 July 31, 2001 $13,442,000.00 August 31, 2001 $15,867,000.00 September 30, 2001 $18,998,000.00 October 31, 2001 $22,240,000.00 November 30, 2001 $25,943,000.00 December 31, 2001 $30,572,000.00 The parties hereto agree that the Borrowers shall make such changes and adjustments to the form of the Officer's Compliance Certificate as are necessary to report the new financial covenants set forth above provided that all such changes and adjustments are satisfactory to the Administrative Agent. Upon the expiration of the Adjustment Period, the Suspended Covenants shall once again be applicable and compliance with such financial covenants shall be required as more fully described in the Credit Agreement with respect to any fiscal quarter ending after the last day of the Adjustment Period. The parties hereto agree that any breach and/or failure of any agreement, requirement or condition contained in this Section 4 shall be an immediate Default and Event of Default under the Credit Agreement.
Minimum Cumulative EBITDA. The Company shall maintain EBITDA, as determined as of the last day of each fiscal quarter of the Company set forth below, for the cumulative period beginning December 1, 1997 and ending on such date, of at least the amount set forth below opposite such date in which such quarter ends: