Common use of Consolidated Tangible Net Worth Clause in Contracts

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June 30, 2008, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008.

Consolidated Tangible Net Worth. The Borrower shall maintain will at all times maintain a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000, (ii) 503,850,000 plus 50% of the cumulative positive Consolidated Net Income earned during (but only if it is a positive numberi) for each the fourth fiscal quarter of the Borrower ended after June 30, 2008, Borrower's 1996 fiscal year (without subtraction for any negative Consolidated Net Income for such fiscal quarter) and (iiiii) 100% of the net proceeds from each fiscal year ending on or after September 28, 1997 (but without subtraction for any offering of the equity securities of the Borrower consummated after June 30, 2008negative Consolidated Net Income for any such fiscal year).

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000245,000,000, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June 30December 31, 20082009, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30December 31, 20082009.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times as of the last day of each fiscal quarter a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000200,000,000, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June September 30, 20082012, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 20082012.

Consolidated Tangible Net Worth. The Borrower on a consolidated basis with its Subsidiaries shall maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000, 125,000,000 plus (ii) fifty percent (50% %) of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of aggregate proceeds received by the Borrower ended after June 30, 2008, (net of actual related fees and (iiiexpenses) 100% of the net proceeds from in connection with any offering of the equity securities of stock in the Borrower consummated after June 30, 2008the Closing Date.

Consolidated Tangible Net Worth. The Borrower shall maintain will at all times a maintain Consolidated Tangible Net Worth of in an amount not less than the sum of (ia) $200,178,00095,000,000, plus (iib) 50% of the cumulative Consolidated Net Income (during any fiscal quarter ending after the Closing Date if, but only if it is a positive number) for each if, such Consolidated Net Income during such fiscal quarter of the Borrower ended after June 30is positive, 2008, and plus (iiic) 10075% of all Net Proceeds of each Equity Issuance after the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008Closing Date.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net Worth shall not be less, as of not less the end of any fiscal quarter of the Borrower, than the sum of (ia) $200,178,000, 9,000,000 plus (iib) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of ending after the Borrower ended after June 30, 2008, and Closing Date on a cumulative basis (iiiincluding any fiscal quarter for which Consolidated Net Income is less than $1.00) plus (c) 100% of the net proceeds Net Proceeds from any offering sale, issuance or placement of the equity securities of occurring after the Borrower consummated after June 30, 2008Closing Date.

Consolidated Tangible Net Worth. The Borrower shall maintain Borrowers will at all times a maintain Consolidated Tangible Net Worth of in an amount not less than the sum of (ia) Forty Million Dollars ($200,178,000, 40,000,000) plus (iib) 50% seventy-five percent (75%) of the positive Consolidated Net Income (but only if it is a positive number) of Borrowers for each fiscal quarter of the Borrower ended after June 30, 2008, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008to have completely elapsed since September 30,2001.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net Worth as measured as of each Quarterly Date of not less than the sum of of: (i1) $200,178,000, (ii) 5085% of the Consolidated Tangible Net Income Worth as of December 31, 2004, (but only if it is a positive numberb) for an additional $500,000.00 as of each fiscal quarter of successive Quarterly Date after the Borrower ended after June 30, 2008Effective Date, and (iiic) 10090% of the net proceeds Net Cash Proceeds received by the Borrower or any of its Subsidiaries after the Effective Date from any offering of the equity securities of the Borrower consummated after June 30, 2008Equity Issuances.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,00080% of Consolidated Tangible Net Worth as of December 31, 2006, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June 30December 31, 2008, 2006 and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008the Closing Date.

Consolidated Tangible Net Worth. The Borrower shall will maintain at all times a Consolidated Tangible Net Worth of in an amount equal to not less than TWO MILLION AND NO/100 DOLLARS ($2,000,000.00) plus ONE HUNDRED PERCENT (100%) of all consolidated monthly net income which is earned after July 31, 2001. Compliance with this ratio shall be tested monthly beginning August 31, 2001 commencing with the sum financial results for the month of (i) $200,178,000, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June 30, 2008, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008July 2001.

Consolidated Tangible Net Worth. The Borrower Borrowers shall maintain at all times a maintain Consolidated Tangible Net Worth of the Borrowers and their Subsidiaries of not less than the sum of (i) $200,178,000108,000,000.00 plus, (ii) on a cumulative basis, an amount equal to 50% of the Consolidated Net Income net after tax profit of the Borrowers and their Subsidiaries earned in each of their fiscal quarters (but only if it is a positive number) for each commencing with the fiscal quarter of the Borrower ended after June 30ending May 28, 20082004), and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008with no reduction for losses.

Consolidated Tangible Net Worth. The Borrower shall maintain will at all times a maintain Consolidated Tangible Net Worth of in an amount not less than the sum of (ia) $200,178,000250,000,000, plus (iib) 50% of the cumulative Consolidated Net Income (during any fiscal quarter ending after the Closing Date if, but only if it is a positive number) for each if, such Consolidated Net Income during such fiscal quarter of the Borrower ended after June 30is positive, 2008, and plus (iiic) 10050% of all Net Proceeds of each Equity Issuance after the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 2008Closing Date.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times maintain a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000, 70,000,000 and (ii) 50% of the aggregate amount of Consolidated Net Income (but only if it is a positive number) of the Parent and its Subsidiaries, including the Borrower, for each fiscal quarter of the Borrower ended fiscal quarters ending after June September 30, 2008, and (iii) 100% 1999 but without deducting therefrom any amount of the net proceeds from Consolidated Net Deficit for any offering of the equity securities of the Borrower consummated after June 30, 2008.such fiscal quarters;

Consolidated Tangible Net Worth. The Borrower shall maintain Borrowers and their Subsidiaries will at all times a maintain Consolidated Tangible Net Worth of in an amount not less than the sum of (ia) Two Hundred Fifty Million Dollars ($200,178,000, 250,000,000) plus (iib) 50% seventy-five percent (75%) of the positive Consolidated Net Income (but only if it is a positive number) of Borrowers and their Subsidiaries for each fiscal quarter of the Borrower ended after June 30to have completely elapsed since December 31, 2008, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 20082003.

Consolidated Tangible Net Worth. The Borrower on a consolidated basis with its Subsidiaries shall maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) $200,178,000568,942,750, (ii) 50plus 80% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June 30, 2008, and (iii) 100% of the any net cash proceeds from any offering of the equity securities of the Borrower consummated after June 30offerings completed subsequent to March 31, 20082004.

Consolidated Tangible Net Worth. The Borrower shall maintain Borrowers will at all times cause to be maintained a minimum Consolidated Tangible Net Worth of not less than the sum of $82,000,000, plus fifty percent (i50%) $200,178,000, (ii) 50% of the Cumulative Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of after December 31, 1996, plus the Borrower ended after June 30, 2008, and (iii) 100% of the net cash proceeds from the issuance and sale of any offering of the common stock, preferred stock, warrant or other equity securities of the Borrower consummated after June 30Credit Parties, 2008net of any brokerage commissions and any other reasonable costs or expenses directly attributable to such issuance.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Maintain Consolidated Tangible Net Worth of not less greater than or equal to the sum of $105,000,000 plus (i) $200,178,000, (ii) an amount equal to 50% of the Borrower’s Consolidated Net Income net income (but only if it is a positive numberpositive) for each fiscal quarter of the Borrower ended ending after June 30, 2008, and 2014 plus (iiiii) one hundred percent (100% %) of the net proceeds from any offering of the equity securities of the Borrower consummated each Equity Offering occurring after June 30, 20082014 after having deducted from the gross proceeds of such Equity Offering all costs and fees associated therewith.

Consolidated Tangible Net Worth. The Borrower shall maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) the greater of $200,178,000193,000,000 or 85 percent of Borrower’s Consolidated Tangible Net Worth as of June 30, 2010, (ii) 50% of the Consolidated Net Income (but only if it is a positive number) for each fiscal quarter of the Borrower ended after June 30, 20082010, and (iii) 100% of the net proceeds from any offering of the equity securities of the Borrower consummated after June 30, 20082010.