Maintenance of Consolidated Net Worth. The Company ------------------------------------- will not permit Consolidated Net Worth at any time to be less than $270,000,000.
Maintenance of Consolidated Net Worth. (a) In the event that the Company's Consolidated Net Worth at the end of each of any two consecutive fiscal quarters (the last day of such second fiscal quarter being referred to as the "TRIGGER DATE") is less than $150.0 million (the "MINIMUM NET WORTH"), then the Company shall make an offer to all Holders (a "NET WORTH OFFER") to acquire on a PRO RATA basis on the date (the "NET WORTH REPURCHASE DATE") that is 45 days following the date of the Net Worth Notice (as defined below), Securities in an aggregate principal amount equal to 10% of the initial aggregate amount of the Securities issued under this Indenture (or if less than 10% of the initial aggregate principal amount of the Securities issued is then outstanding, all the Securities outstanding at the time) (the "NET WORTH OFFER AMOUNT") at a purchase price of 100% of the principal amount thereof, plus accrued interest and Additional Interest, if any, to the Net Worth Repurchase Date (the "NET WORTH PRICE"). The Company may credit against a Net Worth Offer Amount the principal amount of Securities acquired by the Company prior to the relevant Trigger Date through purchase, optional redemption or exchange. No credit shall be made for any mandatory repurchase, including, without limitation, repurchases pursuant to a Net Worth Offer, a Change of Control or a Net Proceeds Offer (as defined in Section 4.15). The Company, however, may not receive credit for a specific repurchased Security in more than one Net Worth Offer. In no event shall the Company's failure to maintain a Consolidated Net Worth in excess of the Minimum Net Worth at the end of any fiscal quarter be counted toward the requirement to make more than one Net Worth Offer. The Company shall notify the Trustee promptly after the occurrence of any of the events specified in this Section
Maintenance of Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than the sum (without duplication of any item) of (i) $100,000,000 and (ii) 50% of the Consolidated Net Income of Holdings, if positive, for each fiscal quarter (commencing with the fiscal quarter beginning on or about July 1, 1997).
Maintenance of Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $150,000,000 PLUS (ii) the amount equal to 50% of the aggregate Consolidated Net Income of Borrower and its consolidated Subsidiaries since December 31, 1997; PROVIDED, HOWEVER, that in the event that Borrower and its consolidated Subsidiaries have a consolidated net loss for any fiscal quarter, Consolidated Net Income for purposes only of clause (ii) of this SECTION 8.1(a) shall be deemed to be zero for such fiscal quarter PLUS (iii) 75% of the Net Offering Proceeds from the issuance of Capital Stock.
Maintenance of Consolidated Net Worth. Guarantor shall not permit its Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 2004.
Maintenance of Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth, as of the end of any fiscal quarter, commencing with the first fiscal quarter ending after the Closing Date, to be less than an amount equal to:
Maintenance of Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than the amounts set forth below (hereinafter referred to as the "Minimum Consolidated Net Worth") the sum of: (a) (i) through December 31, 1999, $35,000,000; and (ii) at any time thereafter, $35,000,000; and (b) 50% of the Annual Net Income for the prior fiscal year; provided, however, that the amount determined under this clause (b) shall never be less than zero. To demonstrate compliance with the Minimum Consolidated Net Worth covenant set forth in this Section, Company shall furnish to the Obligee (i) within 45 days of the close of each calendar quarter a certificate of a Responsible Officer setting forth Minimum Consolidated Net Worth for such date calculated in accordance with this Section 7.1, and the calculation upon which it is based; and (ii) within 90 days of the close of each fiscal year, a certificate of a Responsible Officer setting forth Minimum Consolidated Net Worth as of the date calculated in accordance with this Section 7.1 and the calculation upon which it is based, reflecting in such annual certificate any addition to the Minimum Consolidated Net Worth that Company is required to maintain resulting from the Annual Net Income for the fiscal year then ended, but only as calculated under clause (ii) of this Section 7.1.
Maintenance of Consolidated Net Worth. Permit the Consolidated Net Worth of Holdings on the last day of any Fiscal Quarter to be less than the sum of (i) $124,848,000 plus (ii) the amount equal to 50% of the aggregate Consolidated Net Income of Holdings from and after December 31, 1999 (provided that in the event that Holdings has a Consolidated Net Loss for any Fiscal Quarter, Consolidated Net Income for purposes only of this Section 9.4 shall be deemed to be zero for such Fiscal Quarter), plus, (iii) the amount equal to 100% of the net cash proceeds received by Holdings after the Closing Date from the sale or issuance of its Capital Stock or cash capital contributions received by Holdings.
Maintenance of Consolidated Net Worth. Parent shall not permit its Consolidated Net Worth, as of the end of any fiscal quarter, commencing with the first fiscal quarter ending after the Closing Date, to be less than the sum of (i) sixty-five percent (65%) of the pro forma Consolidated Net Worth of Parent as disclosed in the Form S-1 Registration Statement filed in connection with the IPO, plus (ii) fifty percent (50%) of positive Consolidated Net Income for each fiscal quarter ending after September 30, 2006.
Maintenance of Consolidated Net Worth. The Company shall not, at any time, permit Consolidated Net Worth to be less than the sum of (a) $220,000,000, minus (b) Net Repurchase Expenditures, if any, at such time, plus (c) 40% of its aggregate Consolidated Net Earnings (but only if a positive number) for the period beginning on September 13, 1998 and ending at the end of the fiscal quarter most recently completed at such time.
