Consolidated Shareholders' Equity. Consolidated Shareholders' Equity will at no time be less than the sum of (i) $70,000,000 plus (ii) an amount equal to 25% of Consolidated Net Income for each fiscal year of the Borrower ending after May 1, 1996 and on or prior to the date of determination, in each case, for which Consolidated Net Income is positive (but with no deduction on account of negative Consolidated Net Income for any fiscal year of the Borrower).
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Samples: Credit Agreement (Wiley John & Sons Inc), Credit Agreement (Wiley John & Sons Inc)
Consolidated Shareholders' Equity. The Company will not at any time permit Consolidated Shareholders' ’ Equity will at no time to be in an amount less than the sum of (ia) $70,000,000 250,000,000 plus (iib) an aggregate amount equal to 25% of Consolidated Net Income for each fiscal year of the Borrower ending after May 1, 1996 and on or prior to the date of determination(but, in each case, only if a positive number) for which Consolidated Net Income is positive (but each completed fiscal quarter commencing with no deduction on account of negative Consolidated Net Income for any the fiscal year of the Borrower)quarter ending March 31, 2002.
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Consolidated Shareholders' Equity. Permit Consolidated Shareholders' ’ Equity will at no any time to be less than the sum of (i) $70,000,000 plus 1,523,000,000 and (ii) an amount equal to 25% of cumulative Consolidated Net Income for each fiscal year quarter of the Borrower (beginning with the fiscal quarter ending after May 1March 31, 1996 and on or prior to the date of determination, in each case, 2006) for which Consolidated Net Income is positive (but with no deduction on account of negative Consolidated Net Income for any fiscal year of the Borrower)positive.
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