Minimum Capital Base. (a) OFL will not permit its consolidated Capital Base, on the last day of its fiscal year, to be less than the sum of (i) its consolidated Capital Base on the last day of the immediately preceding fiscal year, PLUS (ii) to the extent Net Income for such fiscal year is greater than zero, Net Income for such fiscal year PLUS (iii) Capital Base Proceeds for such fiscal year; and
(b) OFL will not permit its consolidated Capital Base, on the last day of any fiscal quarter other than the last day of its fiscal year, to be less than the sum (i) 95% of its consolidated Capital Base on the last day of the immediately preceding fiscal year PLUS (ii) Capital Base Proceeds since the last day of the immediately preceding fiscal year; PROVIDED, HOWEVER, that OFL shall not be deemed or declared to be in breach of the covenants contained in this Section 9.06 as long as on the last day of any fiscal quarter, OFL's consolidated Capital Base is not less than $325,000,000;
Minimum Capital Base. (a) OFL will not permit its consolidated Capital Base, on the last day of its fiscal year, to be less than the sum of (i) its consolidated Capital Base on the last day of the immediately preceding fiscal year, PLUS (ii) to the extent Net Income for such fiscal year is greater than zero, Net Income for such fiscal year PLUS (iii) Capital Base Proceeds for such fiscal year.
(b) OFL will not permit its consolidated Capital Base, on the last day of any fiscal quarter other than the last day of its fiscal year, to be less than the sum (i) 95% of its consolidated Capital Base on the last day of the immediately preceding fiscal year PLUS (ii) Capital Base Proceeds since the last day of the immediately preceding fiscal year.
Minimum Capital Base. The Borrower will maintain at all times, to be tested as of each fiscal quarter end, a minimum Capital Base of not less than the following: Period Minimum Capital Base ------ --------------------
Minimum Capital Base. Borrower shall maintain a Capital Base of not less than $165,000,000.
Minimum Capital Base. The Borrower shall maintain at all times, measured at the end of each fiscal quarter, a Consolidated Capital Base of not less than $100,000,000 plus (a) 50% of each quarterly Consolidated Net Income gain since September 30, 1998, plus (b) 100% of Net Proceeds from any issuance of equity securities by the Borrower since September 30, 1998, plus (c) 100% of the Net Proceeds from any issuance by the Borrower of Subordinated Debt from and after September 30, 1998, excluding the SubNote Debt as of November 20, 1998.
Minimum Capital Base. Commencing with the Fiscal Month ending on September 30, 2008, Borrower and its Subsidiaries shall have on a consolidated basis at the end of each Fiscal Month, a Capital Base (including all Subordinated Debt) at least equal to or greater than $14,589,000.”
6) Annex E is amended by striking sections (a)-(d) thereof and amending and restating subsections (a)-(d) as follows as of the Third Amendment Effective Date:
Minimum Capital Base. Maintain a Consolidated Capital Base (i) during the period commencing with the Amendment No. 2 Effective Date through and including December 30, 1999, of at least (A) $10,000,000 at all times prior to the closing of all Authorized Acquisitions and (B) $8,750,000, at all times following the closing of all Authorized Acquisitions and (ii) on December 31, 1999 and at all times thereafter, of at least $10,000,000.
Section 1.6. Exhibit A to the Credit Agreement is hereby amended in its entirety and replaced with Exhibit A attached to Amendment No. 2.
Minimum Capital Base. The Company shall maintain a minimum Capital Base at a level not less than $6,750,000.00 at all times until September 30, 2001, with the minimum Capital Base required hereunder increasing on September 30, 2001, and on the last day of each Fiscal Quarter thereafter, by seventy-five .,percent (75%) of the Company's net income for the Cumulative Twelve Month Fiscal Period then ended, exclusive of losses.
Minimum Capital Base. The Borrower will maintain its Capital Base at an amount not less than the amount set forth below opposite the applicable period: Period Minimum Capital Base ------ -------------------- Term Loan Funding Date to $ 9,500,000 December 30, 1998 December 31, 1998 to $14,000,000 December 30, 1999 December 31, 1999 and thereafter $20,000,000
Minimum Capital Base. Maintain a Consolidated Capital Base during the periods set forth below of not less than the amount set forth below opposite the applicable period: June 30, 2004 through December 30, 2004 $ 7,000,000 December 31, 2004 through December 30, 2005 $ 9,500,000 December 31, 2005 through December 30, 2006 $ 16,500,000 December 31, 2006 through December 30, 2007 $ 23,000,000 December 31, 2007 and thereafter $ 28,000,000
