Maintenance of Net Worth. As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31, 2018), AF REIT shall maintain a Net Worth of not less than the sum of (a) $1,375,000,000 plus (b) 80% of the aggregate net cash proceeds received by AF REIT after December 31, 2017 in connection with any offering of Stock or Stock Equivalents.
Appears in 3 contracts
Samples: Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Finance Trust, Inc), Credit Agreement (American Finance Trust, Inc)
Maintenance of Net Worth. As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31September 30, 20182021), AF REIT shall maintain a Net Worth of not less than the sum of (a) $1,375,000,000 1,285,000,000 plus (b) 8075% of the aggregate net cash proceeds received by AF REIT after December 31, 2017 the Closing Date in connection with any offering of Stock or Stock Equivalents.
Appears in 2 contracts
Samples: Credit Agreement (Necessity Retail REIT, Inc.), Credit Agreement (American Finance Trust, Inc)
