Consolidated Tangible Capital Funds. Maintain, as of the last day of each fiscal quarter, commencing March 31, 2002, Consolidated Tangible Capital Funds for the Borrower and its Consolidated Subsidiaries of not less than Twenty-Two Million U.S. Dollars ($22,000,000), increasing on a quarterly basis, commencing on the last day of each fiscal quarter, on a cumulative basis, by: (i) an amount equal to one hundred percent (100%) of cumulative net earnings of continuing operations on and after April 1, 2002 (with no reduction for losses), (ii) plus one hundred percent (100%) of contributions to capital on or after April 1, 2002, (iii) plus one hundred percent (100%) of any subordinated debt on or after April 1, 2002, and (iv) excluding losses solely as a result of currency translation (up to a maximum cumulative loss of Seven Hundred and Fifty Thousand U.S. Dollars ($750,000)).
Consolidated Tangible Capital Funds. (a) (i) Maintain, at all times for the fiscal quarter ended March 30, 2003, Consolidated Tangible Capital Funds for the Borrower and its Consolidated Subsidiaries of not less than Ten Million U.S. Dollars ($10,000,000);
Consolidated Tangible Capital Funds. On the Computation Date, the Consolidated Tangible Capital Funds, which is required to be not less than $___________, was $_________ as computed in the supporting documents attached hereto as Schedule 1.
Consolidated Tangible Capital Funds. 70 11.2. Capital Expenditures...............................................70 12.
Consolidated Tangible Capital Funds. The Borrower will not permit Consolidated Tangible Capital Funds at any time during any of the periods set forth below to be less than the amount set forth opposite such period in the table below: PERIOD AMOUNT ------------------------------------------- ------------- Closing Date - last day of Second Fiscal $416,000,000 Quarter, 1999 First Day of Third Fiscal Quarter, 1999 - $423,000,000 last day of Third Fiscal Quarter, 1999 First Day of Fourth Fiscal Quarter, 1999 - $429,000,000 last day of Fourth Fiscal Quarter, 1999 First Day of First Fiscal Quarter, 2000 - $435,000,000 last day of First Fiscal Quarter, 2000 First Day of Second Fiscal Quarter, 2000 - $442,000,000 last day of Second Fiscal Quarter, 2000 First Day of Third Fiscal Quarter, 2000 - $449,000,000 last day of Third Fiscal Quarter, 2000 First Day of Fourth Fiscal Quarter, 2000 - $455,000,000 last day of Fourth Fiscal Quarter, 2000 First Day of First Fiscal Quarter, 2001 - $462,000,000 last day of First Fiscal Quarter, 2001 First Day of Second Fiscal Quarter, 2001 - $469,000,000 last day of Second Fiscal Quarter, 2001 First Day of Third Fiscal Quarter, 2001 - $476,000,000 last day of Third Fiscal Quarter, 2001 Any time thereafter $483,000,000
Consolidated Tangible Capital Funds. As at any date of determination, the sum of (a) Consolidated Tangible Net Worth on such date, plus (b) the aggregate principal amount of the Subordinated Notes outstanding on such date, plus all accrued interest owing on such Subordinated Notes on such date, plus (c) any other adjustments to Consolidated Tangible Net Worth as is agreed in writing among the Borrower, the Agent and the Majority Banks; provided, however, for purposes of calculating compliance with the covenant contained in Section 11.1 hereof, (1) any nonrecurring and restructuring charges taken in the third and fourth fiscal quarters of the 1999 fiscal year, up to an aggregate amount of not more than $73,000,000 and of which not more than $15,000,000 shall be in cash and (2) any noncash charges taken in connection with any writedowns in the valuation of the capital stock of Komag, Incorporated which the Borrower obtained in the Komag Disposition, which would otherwise be required to be deducted from the calculation of Consolidated Tangible Capital Funds shall not be deducted for purposes of calculating compliance with Section 11.1 of this Credit Agreement.
Consolidated Tangible Capital Funds. As at any date of determination, the sum of (a) Consolidated Tangible Net Worth on such date, plus (b) the aggregate principal amount of the Subordinated Notes outstanding on such date, plus all accrued interest owing on such Subordinated Notes on such date, plus (c) any other adjustments to Consolidated Tangible Net Worth as is agreed in writing among the Borrower, the Agent and the Majority Banks; provided, however, for purposes of calculating compliance with the covenant contained in Section 11.1 hereof, (1) any nonrecurring and restructuring charges taken in the third and fourth fiscal quarters of the 1999 fiscal year, up to an aggregate amount of not more than $73,000,000 and of which not more than $15,000,000 shall be in cash, (2) any one-time restructuring charge taken in the first fiscal quarter of the 2000 fiscal year in connection with the Borrower's consolidation of certain of its operations in Singapore, up to an aggregate amount of not more than $30,000,000 and (3) any noncash charges taken in connection with any writedowns in the valuation of the capital stock of Komag, Incorporated which the Borrower obtained in the Komag Disposition, which would otherwise be required to be deducted from the calculation of Consolidated Tangible Capital Funds shall not be deducted for purposes of calculating compliance with Section 11.1 of this Credit Agreement.
Consolidated Tangible Capital Funds. The Borrower shall maintain Consolidated Tangible Capital funds of $42,500,000.00 during the entire term that this Agreement shall be in full force and effect and/or any of the Obligations remain outstanding and unpaid.
