Common use of Financial Covenants of Borrower Clause in Contracts

Financial Covenants of Borrower. Dated: ____________________ Tangible Net Worth (Section 6.9(a)) Required Amount: $6,000,000 plus (i) 50% of consideration for equity securities and subordinated debt plus (ii) 50% of Borrower’s quarterly net income Actual:

Financial Covenants of Borrower. Dated: ____________________ Tangible Net Worth (Section 6.9(a)) Required Amount: $6,000,000 7,000,000 plus (i) 50% of consideration for equity securities and subordinated debt plus (ii) 50% of Borrower’s quarterly net income Actual:

Financial Covenants of Borrower. Dated: ____________________ Tangible Net Worth (Section 6.9(a)) Required AmountRequired: $6,000,000 4,000,000 plus (i) 5025% of all consideration received for equity securities and subordinated debt of the Borrower, plus (ii) 5025% of the Borrower’s quarterly net income in each fiscal quarter Actual:

Financial Covenants of Borrower. Dated: ____________________ Tangible Net Worth (Section 6.9(a)6.9) Required AmountRequired: <$6,000,000 10,000,000> plus (i) 50% of consideration for new equity securities and subordinated debt received after May 30, 2007 plus (ii) 50% of Borrower’s quarterly net income for each quarter ending on or after December 31, 2007. Actual: