Adjusted Consolidated Net Worth. The Guarantor will maintain at all times Adjusted Consolidated Net Worth equal to not less than the sum of (i) $1,400,000,000 plus (ii) 25% of the Guarantor’s cumulative Consolidated Net Income, if positive, earned after December 31, 2003, through the last day of the most recent fiscal quarter or year, as applicable, for which statements were delivered or required to have been delivered to the Lessor pursuant to Section 8.01(a) or (b), taken as one accounting period, minus (iii) the Guarantor’s consolidated allowance for potential future losses on investments at the end of such fiscal quarter.
Adjusted Consolidated Net Worth. PLC will maintain at all times Adjusted Consolidated Net Worth equal to not less than the sum of (i) 70% of PLC’s Adjusted Consolidated Net Worth as of September 30, 2021 (but in no event less than $4,500,000,000) plus (ii) 25% of its Consolidated Net Income (if positive) earned after September 30, 2021 minus (iii) PLC’s consolidated allowance for potential future losses on investments at the end of such fiscal quarter not otherwise included for unrealized net gains and losses on assets held for sale pursuant to FASB ASC 320 and accumulated other comprehensive income pursuant to FASB ASC 220 at the end of such fiscal quarter.
Adjusted Consolidated Net Worth. Permit Adjusted Consolidated Net Worth to be less than (i) $1,200,000,000 at any time on or prior to May 29, 2009 and (ii) $1,505,000,000 at any time thereafter.
Adjusted Consolidated Net Worth. The Borrower will at no time permit Adjusted Consolidated Net Worth to be less than $2,600,000,000.
Adjusted Consolidated Net Worth. The Borrower will at ------------------------------- all times maintain Adjusted Consolidated Net Worth (as defined below) in an amount not less than $300,000,000. As used in this Agreement, "Adjusted Consolidated Net Worth" means, at any particular time, all amounts which, in conformity with GAAP, would be included as stockholders' equity on a consolidated balance sheet of the Borrower, adjusted to exclude (a) the effects of common stock of the Borrower being repurchased or being subject to repurchase under employment arrangements accounted for as variable plans under APB Opinion No. 25 (provided that any new arrangements entered into after the Effective Date as well as any amendments to arrangements existing on the Effective Date, shall not be excluded from consideration to the extent that such arrangements materially increase the Borrower's obligations), and (b) the after tax effects of the following post-Effective Date events (i) write-downs after June 30, 2000 under FASB Statement No. 19, (ii) non-cash write-ups or write-downs of assets after June 30, 2000 under FASB Statement No. 121, (iii) non-cash gains, losses or adjustments under FASB Statement No. 133, (iv) non-cash charges to earnings for options or stock issued and accounted for under APB Opinion No. 25 or FASB Statement 123, and (v) post-Effective Date changes in GAAP.
Adjusted Consolidated Net Worth. The Company will not permit at any time its Adjusted Consolidated Net Worth as of the end of any fiscal year to be less than $130,000,000 plus the cumulative sum of 50% of Consolidated Net Income (but only if a positive number) for each fiscal year ending after June 30, 2001.
Adjusted Consolidated Net Worth. The US Borrower will not permit its Adjusted Consolidated Net Worth at any time to be less than the sum of (i) U.S. $500,000,000, plus (ii) an amount equal to 50% of the amount by which the US Borrower’s quarterly Consolidated Net Income (determined at the end of each fiscal quarter, commencing March 31, 2002) exceeds zero, plus (iii) 100% of any proceeds from equity issuances of capital stock of the US Borrower (other than (A) in connection with exercises of stock options of the officers, directors and employees of the US Borrower in the ordinary course of business and (B) proceeds of equity issuances of capital stock used to pay the WCAS Subordinated Note pursuant to Section 6.24 hereof).
Adjusted Consolidated Net Worth. Permit Adjusted Consolidated Net Worth to be less than $175,000,000.
Adjusted Consolidated Net Worth. The Borrower will maintain at all times Adjusted Consolidated Net Worth equal to not less than the sum of (i) $1,000,000,000 plus (ii) 25% of the Borrower’s cumulative Consolidated Net Income, if positive, earned after December 31, 2000, through the last day of the most recent fiscal quarter for which statements were delivered or required to have been delivered to the Lenders pursuant to Section 5.1, taken as one accounting period, minus (iii) the Borrower’s consolidated allowance for potential future losses on investments at the end of such fiscal quarter.
Adjusted Consolidated Net Worth. U.S. Borrower will not permit its Adjusted Consolidated Net Worth (calculated on the last day of each fiscal quarter) to be less than $149,180,000 plus the cumulative sum of (x) 40% of Consolidated Net Income (but only if a positive number), plus (y) 75% of the Net Cash Proceeds received by U.S. Borrower from the issuance of Equity Interests by U.S. Borrower for (i) each completed fiscal year of U.S. Borrower ending after December 31, 2005, and (ii) the period from the beginning of the then current fiscal year through the end of the then most recently ended fiscal quarter which shall have been completed (if any shall have been completed) in such then current fiscal year; provided, that at any time U.S. Borrower or any Subsidiary incurs additional Indebtedness, immediately following and after giving effect to the incurrence of such additional Indebtedness, the Adjusted Consolidated Net Worth shall not be less than the minimum Adjusted Consolidated Net Worth that would have been permitted as of the last day of the then most recently ended fiscal quarter.
