Maintenance of Net Worth. The Borrower will not permit Consolidated Net Worth at any time to be less than the sum of (i) $110,000,000, plus (ii) 90% of positive Consolidated Net Income earned during each fiscal year, commencing with the fiscal year ending on October 3, 2008, plus (iii) 75% of the net cash proceeds resulting from any issuance of capital stock by the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Johnson Outdoors Inc), Credit Agreement (Johnson Outdoors Inc)
Maintenance of Net Worth. The Borrower will not permit Consolidated Net Worth at any time to be less than the sum of (i) $110,000,000153,314,000, plus (ii) 9050% of positive Consolidated Net Income earned during in each fiscal year, commencing with the fiscal year ending on October 3September 29, 2008, plus (iii) 75% of the net cash proceeds resulting from any issuance of capital stock by the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Johnson Outdoors Inc), Credit Agreement (Johnson Outdoors Inc)
Maintenance of Net Worth. The Borrower Company will not at any time permit Consolidated Net Worth at any time to be less than the sum of (ia) $110,000,000, 300,000,000 plus (iib) 9025% of positive Consolidated Net Income earned during for each fiscal year, commencing year (beginning with the fiscal year ending on October 328, 2008, plus (iii2006) 75% of the net cash proceeds resulting from any issuance of capital stock by the Borrowerfor which Consolidated Net Income is positive.
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Samples: Guarantee Agreement (Spartech Corp)
Maintenance of Net Worth. The Borrower will not permit Consolidated Net Worth at any time to be less than the sum of (i) $110,000,000144,262,000, plus (ii) 9050% of positive Consolidated Net Income earned during in each fiscal year, commencing with the fiscal year ending on October 3after September 29, 20082006, plus (iii) 75% of the net cash proceeds resulting from any issuance of capital stock by the Borrower.
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