Diligence Threshold Clause Samples

Diligence Threshold. The Diligence Threshold shall be deemed to have been achieved for so long as (a) Borrower’s Consolidated Tangible Net Worth is not less than $250,000,000.00 and (b) the Eligible Real Estate included in the calculation of the Borrowing Base Appraised Value Limit shall consist of not less than fifteen (15) Borrowing Base Assets having an aggregate Appraised Value of not less than $150,000,000.00. First Amendment Date. October 25, 2012.

Diligence Threshold. The Diligence Threshold shall be deemed to have been achieved for so long as (a) Consolidated Tangible Net Worth is not less than $200,000,000.00 and (b) the Eligible Real Estate included in the calculation of the Borrowing Base Capitalized Value Limit shall consist of not less than ten (10) Borrowing Base Assets and such Borrowing Base Assets shall be contributing not less than Two Hundred Million and No/100 Dollars ($200,000,000.00) of Capitalized Value in the aggregate to the Borrowing Base Capitalized Value Limit. Directions. See §14.13.