Minimum Monthly Recurring Revenue. Borrower’s Recurring Revenue shall not decline for any two consecutive months. In addition, measured at the last month of each fiscal quarter, Borrower’s Recurring Revenue shall not be less than the amounts shown below for the applicable periods shown below:

Is Actual equal to or greater than the required amount?

Minimum Recurring Revenue. Achieve Recurring Revenue, measured on a quarter-end basis of at least the required amount set forth in the following table for the applicable period set forth opposite thereto:

“Monthly Recurring Revenue” means, for any month as at any date of determination, the sum of the aggregate value of Recurring Revenue for such month taken as a single accounting period under GAAP, minus Recurring Revenue of Borrower that was lost during the month ended as of such date of determination.

Revenue. Revenue for any fiscal year shall mean the Company’s total revenues as set forth on the audited consolidated statement of operations of the Company and its subsidiaries for the fiscal year.

SaaS Metrics. As soon as available, but no later than thirty (30) days after the last day of each month, SaaS based metrics certified by a Responsible Officer, including without limitation, a report detailing twelve (12) month net revenue churn and Monthly Recurring Revenue by customer, all in form and substance reasonably satisfactory to Bank;

Monthly. After the end of each month of each fiscal year of Regional, and in any event within 30 days after the end of such period, # balance sheets and # statements of income of Regional and its Subsidiaries, prepared on a consolidating basis including Special Purpose Subsidiary; together with:

“Recurring Revenue” is subscription revenue of Borrower received or anticipated from the execution or the anticipated execution of monthly customer contracts in the ordinary course of Borrower’s business, in each case determined in accordance with GAAP and specifically excluding revenue or accounts receivable based on # sales of inventory, goods, or equipment, # transaction revenue not received in the ordinary course of business, # sales of services not in the ordinary course of business, # revenue received due to one-time, non-recurring transactions, installation and/or set-up fees, # add-on purchases by Borrower’s existing clients not resulting in a continuing stream of revenue and # such other exclusions as Bank shall determine, in its reasonable discretion, provided that Bank provides Borrower with prior written notice of such exclusions.

“Borrowing Base” is an amount equal to the result of the Advance Rate multiplied by the Monthly Recurring Revenue, as determined by Bank in its sole discretion, tested as of the last day of the immediately preceding calendar month; provided, however, that Bank will promptly provide Borrower with notice of the results of Bank’s calculation of the Borrowing Base after each monthly test.

Monthly Payments. USPB shall pay CEO an additional month's salary in an amount equal to the annual salary under [Section 3(a)] [Annual Salary] that would be paid to CEO under this Agreement if CEO was employed or CEO's annual salary at the time of termination, whichever is greater, divided by twelve (12), which payments shall be paid at normal salary payment intervals in effect for USPB's management personnel; and