Common use of Adjusted Consolidated Net Worth Clause in Contracts

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 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-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 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 after June 30, 2000 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.