additional dilution and/or establish additional reserves against Borrowers Eligible Accounts Receivable, provided that the amount of any reserve established by Bank shall have a reasonable relationship to the matter, event, condition or contingency that is the basis for such reserve and shall not be duplicative of any other reserve established and currently maintained.
(d) Section 4.3(c) of the Credit Agreement is hereby amended by deleting the reference to during any period in which the Senior Funded Debt to EBITDA Ratio is not tested under Section 4.9(b) of this Agreement, in clause (iii) thereof.
(e) Section 4.3 of the Credit Agreement is hereby amended by (i) deleting the word and at the end of subsection (g), (ii) re-lettering subsection (h) as subsection (j) and (iii) adding new subsections (h) and (i) as follows:
(h) on the last business day of each calendar week, a forecast of cash flows of the Borrower for the following thirteen-week period;
(i) not later than 30 days after the end of each calendar month, a completed and fully executed Borrowing Base Certificate together with all supporting schedules and calculations and, upon request by Bank, copies of any executed acknowledgment letters in favor of Bank; and.
(f) Section 4.9 of the Credit Agreement is hereby amended and restated in its entirety as follows:
SECTION 4.9. FINANCIAL CONDITION. Maintain Borrowers financial condition as follows using GAAP consistently applied and used consistently with prior practices (except to the extent modified by the definitions herein):
(a) Minimum Monthly Liquidity as of the end of each calendar month not less than (i) during the period from the Eighth Amendment Effective Date through January 31, 2020, $1,500,000 and (ii) thereafter, $3,000,000; with Minimum Monthly Liquidity defined as the Total Borrowing Base Availability as indicated on the Borrowing Base Certificate for such calendar month.
(b) Minimum EBITDA for the Borrower and its Subsidiaries on a consolidated basis at all times during each fiscal quarter, commencing with the fiscal quarter ending April 30, 2020, equal to not less than (i) for the fiscal quarter ending April 30, 2020, determined for the one-quarter period then ended, $315,000, (ii) for the fiscal quarter ending July 31, 2020, determined for the two-quarter period then ended, $1,115,000, (iii) for the fiscal quarter ending October 31, 2020, determined for the three-quarter period then ended, $2,175,000, (iv) for the fiscal quarter ending January 31, 2021, determined for the four-quarter period then ended, $3,040,000. As used herein, EBITDA means consolidated net income determined in accordance with GAAP, consistently applied, less income or plus loss from discontinued operations and extraordinary items, plus income taxes, plus interest expense, plus depreciation, depletion, and amortization, all to the extent included in the determination of consolidated net income. For purposes of this Section 4.9(c), EBITDA may be increased by scheduled one-time non-recurring addbacks in an amount not to exceed $250,000.