Minimum Net Income Clause Samples
The Minimum Net Income clause sets a required threshold for the net income that a party, typically a tenant or borrower, must maintain during a specified period. In practice, this clause may require regular financial reporting to demonstrate compliance, and failure to meet the minimum net income can trigger default provisions or other remedies. Its core function is to protect the other party—such as a landlord or lender—by ensuring the financial stability of the obligated party, thereby reducing the risk of non-payment or financial distress.
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Minimum Net Income. If as of the last day of any calendar month within a fiscal quarter of the Seller, the Seller’s consolidated Adjusted Tangible Net Worth is less than [***] or the Seller, on a consolidated basis, has cash and Cash Equivalents in an amount that is less than [***], in either case, the Seller’s consolidated Net Income for that fiscal quarter before income taxes for such fiscal quarter shall equal or exceed [***].
Minimum Net Income. Pursuant to Section 5.2(a) of the Credit Agreement, as of the Reporting Date, Companies’ Net Income was $ , which ¨ satisfies ¨ does not satisfy the requirement that Net Income be not less than $ on the Reporting Date.
Minimum Net Income. Pursuant to Section 6.13 of the Credit Agreement, as of the Reporting Date, Heska's Net Income was, on a consolidated basis, $_________________, which o satisfies o does not satisfy the requirement that such amount be no less than $______________ on the Reporting Date, as set forth in the table below:
Minimum Net Income. The Borrower will maintain, during each period described below, its Net Income, determined as at the end of each quarter, at an amount not less than the amount set forth opposite such period (numbers appearing between “( )” are negative): Period Minimum Net Income Six months ending June 30, 2002 ($1,049,000) Nine months ending Sept. 30, 2002 ($665,000) Twelve months ending Dec. 31, 2002 ($600,000) "
3. Section 6.13. Section 6.13 of the Credit Agreement is amended and restated in its entirety to read as follows:
Minimum Net Income. The Borrower will achieve during each period described below, its Net Income, of not less than the amount set forth opposite such period: Period Minimum Net Income ------ ------------------ Nine months ending September 30, 2003 $400,000 Twelve months ending December 31, 2003 $600,000
Minimum Net Income. Heska will achieve, on a consolidated basis, during each period described below, Net Income in an amount not less than the amount set forth opposite such period (amounts in parentheses denote negative numbers):
Minimum Net Income. Section 6.13 of the Credit Agreement is hereby amended to read in its entirety as follows:
Minimum Net Income. Heska will achieve, on a consolidated basis, during each period described below, Net Income in an amount not less than the amount set forth opposite such period (amounts in parentheses denote negative numbers): Period Twelve months ended December 31, 2004 Three months ending March 31, 2005 Six months ending June 30, 2005 Nine months ending September 30, 2005 Twelve months ending December 31, 2005 Fifteen months ending March 31, 2006 Minimum Net Income [***] [***] [***] [***] [***] [***]"
Minimum Net Income. The Borrower will achieve, as of each date set forth below, fiscal year-to-date Net Income of not less than the amount set forth opposite such period (numbers appearing between parentheses are negative):
Minimum Net Income. Pursuant to Section 6.13 of the Credit Agreement, as of the Reporting Date, Heska’s Net Income was, on a consolidated basis, $_________________, which [ ] satisfies [ ] does not satisfy the requirement that such amount be no less than $______________ on the Reporting Date, as set forth in the table below: Period Twelve months ended December 31, 2004 Three months ending March 31, 2005 Six months ending June 30, 2005 Nine months ending September 30, 2005 Twelve months ending December 31, 2005 Fifteen months ending March 31, 2006 Minimum Net Income [***] [***] [***] [***] [***] [***]