Borrower’s Minimum Tangible Net Worth Sample Clauses

Borrower’s Minimum Tangible Net Worth. (i) Borrower’s total members’ or partners’ equity as of the Date: $ (ii) Principal amount of all Indebtedness and Disqualified Equity Interests of Borrower that have been contractually subordinated in right of payment to the payment of the Obligations as of the Date: $ (iii) That portion of the book value of all of Borrower’s and its Subsidiaries’ assets that would be treated as intangibles under GAAP as of the Date: $ (iv) Aggregate amounts due to Borrower or any of its Subsidiaries from their Affiliates as of the Date: $ (v) Borrower’s unrealized gains or appreciation from Investments or equity securities, in each instance as determined on a consolidated basis in accordance with GAAP as of the Date: $ (vi) Item 4(e)(i) plus Item 4(e)(ii): $ (vii) Item 4(e)(iii) plus Item 4(e)(iv) plus Item 4(e)(v): $ (viii) Item 4(e)(vi) minus Item 4(e)(vii) (=Borrower’s Tangible Net Worth) as of the Date: $ (ix) The aggregate Advances made by the Lenders against Borrower’s two largest Eligible Portfolio Loans, as of the Date: $ (b) Borrower’s Tangible Net Worth as of the Date [is/is not] greater than or equal to the greater of (i) $20,000,000, and (ii) Item 4(a)(ix), as required to be in compliance with Section 6.1(q) of the Loan Agreement.
Sample 1
AutoNDA by SimpleDocs
Borrower’s Minimum Tangible Net Worth. Throughout the term of the Loan, Borrower shall maintain a minimum tangible net worth, calculated in accordance with generally-accented accounting principles of not less than One Million and 00/100 Dollars ($1,000,000.00) plus fifty percent (50%) of future net, after tax, income.
Sample 1
Borrower’s Minimum Tangible Net Worth. Borrower shall maintain its Tangible Net Worth in an amount not less than $35,000,000.00.
Sample 1

Related to Borrower’s Minimum Tangible Net Worth

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) $731,508,263 plus (ii) 75% of the Net Proceeds of all Equity Issuances effected at any time after the Agreement by the Parent, the Borrower or any of the Subsidiaries of the Parent to any Person other than the Parent, the Borrower or any of the Subsidiaries of the Parent.

  • Minimum Consolidated Tangible Net Worth Borrower shall not permit Consolidated Tangible Net Worth to be less than $600,000,000 plus eighty-five percent (85%) of the Net Proceeds of any Equity Issuance received after the Agreement Execution Date.

  • Tangible Net Worth The Seller will not permit its tangible net worth, at any time, to be less than $10,000,000.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

  • Consolidated Tangible Net Worth The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Minimum Consolidated Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Maintenance of Tangible Net Worth The Borrower shall maintain during each Fiscal Quarter a Tangible Net Worth of not less than the Minimum Tangible Net Worth.

  • Minimum Net Worth The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $265,000,000 plus (ii) fifty percent (50%) of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending December 31, 1997 (without deduction for losses).

  • Net Worth The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person’s primary home).

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!