Common use of Termination Triggers Clause in Contracts

Termination Triggers. If any one or more of the following is true, then Lessor Frontier Lease Agreement (MSN 28760) Schedule 2 Execution Copy -4- may, at its sole option, terminate the Lease Agreement and the other Operative Documents by notice to Lessee: 4.1.1 A Default shall have occurred at any time (even if not then continuing). 4.1.2 Lessee shall not have an unrestricted cash balance as of December 31, 1996 of at least * . 4.1.3 Lessee shall not have an unrestricted cash balance as of March 31, 1997 of at least * . 4.1.4 Lessee shall not have a tangible net worth as of December 31, 1996 in excess of * . 4.1.5 Lessee shall not have a tangible net worth as of March 31, 1997 in excess of * . 4.1.6 Lessee shall not have had, for the 12-month period ending December 31, 1996, total revenues in excess of * . 4.1.7 Lessee shall not have had, for the 3-month period ending March 31, 1997, net income in excess of * . The accounting terms used in this Section 4.1 shall be interpreted with reference to generally accepted accounting principles, as set forth in the statements of financial accounting standards issued by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants, and as applied on a basis consistent with prior periods.

Termination Triggers. If any one or more of the following is true, then Lessor Frontier Lease Agreement (MSN 28760) Schedule 2 Execution Copy -4- may, at its sole option, terminate the Lease Agreement and the other Operative Documents by notice to Lessee: 4.1.1 A Default shall have occurred at any time (even if not then continuing). 4.1.2 Lessee shall not have an unrestricted cash balance as of December 31, 1996 of at least * . 4.1.3 Lessee shall not have an unrestricted cash balance as of March 31, 1997 of at least * . 4.1.4 Lessee shall not have a tangible net worth as of December 31, 1996 in excess of * . 4.1.5 Lessee shall not have a tangible net worth as of March 31, 1997 in excess of * . 4.1.6 Lessee shall not have had, for the 12-month period ending December 31, 1996, total revenues in excess of * . 4.1.7 Lessee shall not have had, for the 3-month period ending March 31, 1997, net income in excess of * . The accounting terms used in this Section 4.1 shall be interpreted with reference to generally accepted accounting principles, as set forth in the statements of financial accounting standards issued by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants, and as applied on a basis consistent with prior periods.