Common use of Maintain the Following Financial Covenants Clause in Contracts

Maintain the Following Financial Covenants. (a) Consolidated Net Worth of a minimum of the sum of (i) $400,000,000 plus (ii) 50% of cumulative positive Net Income after September 30, 2003, plus (iii) 100% of net cash raised through contribution or issuance of new equity, less (iv) receivables from affiliates.

Appears in 3 contracts

Samples: Revolving Loan Agreement (Brown & Brown Inc), Revolving and Term Loan Agreement (Brown & Brown Inc), Revolving Loan Agreement (Brown & Brown Inc)

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Maintain the Following Financial Covenants. (a) Consolidated Net Worth of a minimum of the sum of (i) $400,000,000 1,375,000,000 plus (ii) 50% of cumulative positive Net Income after September 30December 31, 20032011, plus (iii) 100% of net cash raised through contribution or issuance of new equityequity after December 31, 2011, less (iv) receivables from affiliates.

Appears in 2 contracts

Samples: Revolving and Term Loan Agreement, Revolving and Term Loan Agreement (Brown & Brown Inc)

Maintain the Following Financial Covenants. (a) Consolidated Net Worth of a minimum of the sum of (i) $400,000,000 plus 65,000,000 (ii) 50% of cumulative positive Net Income after September June 30, 20031998, plus and (iii) 100% of net cash raised through contribution or issuance of new equity, less (iv) receivables from affiliates.

Appears in 1 contract

Samples: Revolving Loan Agreement (Poe & Brown Inc)

Maintain the Following Financial Covenants. (a) Consolidated Net Worth of a minimum of the sum of (i) $400,000,000 100,000,000.00 plus (ii) 50% of cumulative positive Net Income after September June 30, 20032000, plus (iii) 100% of net cash raised through contribution or issuance of new equity, less (iv) receivables from affiliates.

Appears in 1 contract

Samples: Revolving and Term Loan Agreement (Brown & Brown Inc)

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Maintain the Following Financial Covenants. (a) Consolidated Net Worth of a minimum of the sum of (i) $400,000,000 970,000,000 plus (ii) 50% of cumulative positive Consolidated Net Income after September 30(Loss)after March 31, 20032008, plus (iii) 100% of net cash raised through contribution or issuance of new equityequity after March 31, 2008, less (iv) receivables from affiliates.

Appears in 1 contract

Samples: Revolving Loan Agreement (Brown & Brown Inc)

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