Installments Payment Conditions

Installments Payment Conditions. Means the occurrence of each of the following: (i) the closing bid price of the common stock of Maker shall exceed $5.00 for 180 consecutive trading days, subject to adjustment for stock splits, reverse splits, stock buy backs, cash dividends and transactions of similar import, (ii) Maker's debt to equity ratio shall be less than 50%, (iii) Maker's revenue/debt ratio shall be less than 0.05, and (iv) Maker's interest burden coverage [(EBIT)/(Debt Service)] shall be greater than 20 times [Debt... Service = (Interest + Payment)]. Maker shall notify Payee in writing promptly upon occurrence of the Installment Payment Conditions. View More