Recurring Net Revenue definition

Recurring Net Revenue means, for any period of determination, an amount equal to the difference between (i) the sum of (a) processing net revenue, (b) gateway net revenue, and (c) ACH net revenue, in each case, generated during such period, minus (ii) third-party agent residuals paid or payable with respect to any such revenues included in clause (i) during such period; provided, however, that (1) no revenue from Permitted ISO Loans shall constitute, or be included in the definition of, “Recurring Net Revenue”, and (2) no revenue generated by the Credit Parties’ American Express business shall constitute, or be included in the definition of, “Recurring Net Revenue”.
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Examples of Recurring Net Revenue in a sentence

  • No Holding Company shall permit Eligible Recurring Net Revenue as at the end of any Fiscal Quarter, beginning with the Fiscal Quarter ending June 30, 2017, for the four Fiscal Quarter period then ended to be less than $15,300,000.

  • Administrative Agent shall have received evidence in form and substance reasonably satisfactory to Administrative Agent that the Payment Subsidiaries have generated trailing twelve-month pro forma Eligible Recurring Net Revenue (including pro forma adjustments acceptable to Administrative Agent in its sole discretion) for the twelve month period ending on the last day of the month completed thirty-one (31) days immediately prior to the Closing Date of at least $11,500,000.

  • For the purposes of determining compliance with the covenant set forth in Section 8.11(c) following consummation of a Permitted Acquisition, each of the minimum Eligible Recurring Net Revenue amounts set forth in Section 8.11(c) shall be increased by 100% of Eligible Recurring Net Revenue of the entity or assets being acquired for the four quarter period most recently ended prior to the consummation of such Permitted Acquisition.

  • The Borrowers shall not permit on any Measurement Date, commencing with December 31, 2018, Eligible Recurring Net Revenue to be less than $18,742,000.

  • Intermediate Holdings shall not permit Eligible Recurring Net Revenue as at the end of any Fiscal Quarter, beginning with the Fiscal Quarter ending September 30, 2015, for the four Fiscal Quarter period then ended to be less than $11,500,000.

  • For the purposes of determining compliance with the covenant set forth at Section 6.8(a) following consummation of a Permitted Acquisition, each of the minimum Eligible Recurring Net Revenue amounts set forth in Section 6.8(a) shall be increased by 100% of Eligible Recurring Net Revenue of the entity or assets being acquired for the four quarter period most recently ended prior to the consummation of such Permitted Acquisition.

Related to Recurring Net Revenue

  • Recurring Revenue With respect to any Recurring Revenue Loan, the meaning of “Recurring Revenue” or any comparable definition in the related Underlying Instruments relating to recurring maintenance or support revenues, subscription revenues, and recurring revenues attributable to software licensed or sold (excluding one-time license revenues) in the Underlying Instruments for such Loan.

  • Recurring Revenue Loan means a Collateral Loan that meets each of the following criteria as of the date of acquisition by the Borrower, subject to waiver by the Administrative Agent in accordance with the definition of Eligible Collateral Loan hereto (for the avoidance of doubt, if any Collateral Loan does not meet the below listed conditions, but such failure is waived by the Administrative Agent, such Collateral Loan shall still be subject to the Advance Rates, Concentration Limitations and Revaluation Events applicable to Recurring Revenue Loans set forth herein):

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;