Common use of Minimum Capital Base Clause in Contracts

Minimum Capital Base. (a) AFL 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) AFL 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 AFL shall not be deemed or declared to be in breach of the covenants contained in this Section 9.07 as long as on the last day of any fiscal quarter, AFL's consolidated Capital Base is not less than $325,000,000;

Minimum Capital Base. (a) AFL 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) AFL 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 AFL shall not be deemed or declared to be in breach of the covenants contained in this Section 9.07 9.06 as long as on the last day of any fiscal quarter, AFL's consolidated Capital Base is not less than $325,000,000;.

Minimum Capital Base. (a) AFL 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) AFL 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 AFL OFL shall not be deemed or declared to be in breach of the covenants contained in this Section 9.07 9.06 as long as on the last day of any fiscal quarter, AFLOFL's consolidated Capital Base is not less than $325,000,000;

Minimum Capital Base. (a) AFL 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) AFL 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 AFL OFL shall not be deemed or declared to be in breach of the covenants contained in this Section 9.07 as long as on the last day of any fiscal quarter, AFLOFL's consolidated Capital Base is not less than $325,000,000;