Consolidated Minimum Tangible Net Worth Sample Clauses

Consolidated Minimum Tangible Net Worth. Consolidated Tangible Net Worth shall at no time be less than (i) 85% of the Guarantor’s actual Consolidated Tangible Net Worth at the closing of the transactions provided for in the Consent to Sale, Assumptions and Second Loan Modification, plus 75% of the equity contributions or sales of treasury stock received by the Guarantor after such closing. Such covenant shall be tested as of the last day of each fiscal quarter if and when this covenant is in effect based upon Guarantor’s compliance certificate for such quarter.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Consolidated Minimum Tangible Net Worth. The Consolidated Corporations shall maintain, on a consolidated basis, at all times (to be measured as of the last date of each fiscal quarter and tested in connection with the delivery of financial statements pursuant to Sections 6.1 and 6.2 hereof) a Tangible Net Worth of no less than (i) Forty-Eight Million Dollars ($48,000,000) plus (ii) (A) seventy-five percent (75%) multiplied by (B) the Net Income for each fiscal year (on a cumulative basis) commencing with the fiscal year ending October 31, 1997; provided, however, no change shall be made hereto by reason of clause (ii) if the Net Income is negative for any fiscal year.
Sample 1

Related to Consolidated Minimum Tangible Net Worth

  • Consolidated Tangible Net Worth (i) 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 Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • Minimum Consolidated Tangible Net Worth (a) Prior to consummation of the Merger, the Borrower will not at any time permit Consolidated Tangible Net Worth to be less than the sum of (i) $788,000,000.00 plus (ii) seventy-five percent (75%) of the sum of any additional Net Offering Proceeds after the date of this Agreement.

  • Consolidated Net Worth Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.

  • 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.

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) 203,170,000 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 Adjusted Tangible Net Worth Seller shall not permit the Adjusted Tangible Net Worth of Seller (and, if applicable, its Subsidiaries, on a consolidated basis), computed as of the end of each calendar month, to be less than $25,000,000.

  • Total Liabilities to Tangible Net Worth Ratio Maintain a ratio of total liabilities to Tangible Net Worth of less than .80 to 1.0 as of the end of each fiscal quarter.

  • Adjusted Net Worth The Guarantor will not permit Adjusted Net Worth as at the last day of any fiscal quarter of the Guarantor to be less than $1,000,000,000.

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

Time is Money Join Law Insider Premium to draft better contracts faster.