Common use of Minimum Consolidated Net Worth Clause in Contracts

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than the sum of (ia) $250,000,000 125,000,000, plus (iib) thirty percent (30%) 85% of the sum of the Consolidated Net Income of the aggregate proceeds received by Borrower (net of customary related fees and expenses) in connection with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter offering of stock by Borrower after the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997date hereof.

Minimum Consolidated Net Worth. The Borrower will not shall not, as of any fiscal quarter end, permit its the Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 55,000,000, plus (ii) thirty percent 50% of the consolidated net income (30%but not loss) of the sum of Borrower and the Consolidated Net Income of the Borrower (Subsidiaries determined in accordance with any consolidated net loss during any fiscal quarter counting as zero) GAAP for each fiscal quarter ending after the Closing Date plus (iii) 75% of the Borrower commencing with the fiscal quarter aggregate net cash proceeds of each issuance of Equity Interests by the Borrower ending June 30, 1997or any Subsidiary after the Closing Date.

Minimum Consolidated Net Worth. The Borrower will not permit its at all ------------------------------ times maintain Consolidated Net Worth at any time to be of not less than the sum of (i) $250,000,000 74,300,000, plus (ii) thirty percent (30%) 50% of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for earned in each fiscal quarter beginning with the quarter ending September 30, 1999 (without deduction for losses) and (iii) 100% of the Borrower commencing with the fiscal quarter net cash proceeds of equity issued by the Borrower ending June 30on or after July 1, 19971999.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 280,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30March 31, 19972000.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ia) $250,000,000 1,200,000,000 plus (iib) thirty percent (30%) 25% of the sum of the positive Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for earned in each fiscal quarter of the Borrower calendar year commencing with the fiscal quarter of the Borrower calendar year ending June 30December 31, 19972021.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ia) $250,000,000 1,200,000,000 plus (iib) thirty percent (30%) 25% of the sum of the positive Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for earned in each fiscal quarter of the Borrower calendar year commencing with the fiscal quarter of the Borrower ending June 30calendar year ended December 31, 19972017.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus 648,758,000 PLUS (ii) thirty percent (30%) 50% of the sum of the Consolidated Net Income consolidated net income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for and its Consolidated Subsidiaries in each fiscal quarter of the Borrower commencing with the completed fiscal quarter of the Borrower ending June after September 30, 19972000 (with no deduction for a net loss in any such fiscal quarter).

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ix) $250,000,000 973,190,000 plus (iiy) thirty percent (30%) 25% of the sum of the Consolidated Cumulative Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997Income.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ia) $250,000,000 1,200,000,000 plus (iib) thirty percent (30%) 25% of the sum of the positive Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for earned in each fiscal quarter of the Borrower calendar year commencing with the fiscal quarter of the Borrower calendar year ending June 30December 31, 19972023.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ix) $250,000,000 1,349,059,000 plus (iiy) thirty percent (30%) 25% of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zeroif positive) for each fiscal quarter of the Borrower (commencing with the fiscal quarter of the Borrower ending June 30, 19972006).

Minimum Consolidated Net Worth. The Borrower will not permit its ------------------------------ the Consolidated Net Worth at any time to be less than the sum of (iI) $250,000,000 300,000,000 plus (iiII) thirty percent (30%) 50% of the sum of the Cumulative Consolidated Net Income (if positive) plus, (III) 100% of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of cash proceeds received by the Borrower commencing with from sales or issuances of its equity after the fiscal quarter Effective Date (net of the Borrower ending June 30, 1997underwriting or placement discounts and commission and other costs associated therewith).

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than the sum of (ia) $250,000,000 60,000,000 plus (iib) thirty fifty percent (3050%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zeroif positive) calculated separately for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending on June 30, 19971999, plus (c) one hundred percent (100%) of the net cash proceeds resulting from the issuance by the Borrower of any Capital Stock.

Minimum Consolidated Net Worth. The Borrower will not at any ------------------------------ time subsequent to the Closing Date permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 308,000,000 plus (ii) thirty percent (30%) 50% of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zeroif positive) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June September 30, 19972004 and concluding with the fiscal quarter ending most recently prior to the date of determination, but without deduction for any fiscal quarter in which there is a loss.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than than, as of the last day of any fiscal quarter, an amount equal to $200,000,000.00 plus the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter ending after the Effective Date of 50% of the net income, if positive, of the Borrower commencing with the and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the Borrower ending June 30, 1997net proceeds of any issuance of equity by the Borrower.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ia) $250,000,000 263,721,500 plus (iib) thirty percent (30%) 25% of the sum of the positive Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for earned in each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending rolling 12 month period starting on June 30, 19972021 plus (c) 25% of additional cash equity raised by Borrower, determined as of the end of each of its fiscal quarters for the prior four (4) fiscal quarters.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than the sum of (ia) $250,000,000 27,500,000 plus (iib) thirty fifty percent (3050%) of Net Income (if positive) calculated separately for each fiscal quarter ending after December 31, 1997, plus (c) one hundred percent (100%) of the sum net cash proceeds resulting from the issuance by the Borrower of any Capital Stock, plus (d) the Consolidated Net Income Worth of any Person whose Capital Stock is contributed to the capital of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997Borrower.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ix) $250,000,000 plus 850,000,000 and (iiy) thirty percent (30%) 25% of the sum of the Consolidated Cumulative Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997Income.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at the end of any time fiscal quarter to be less than the sum $160,000,000.00 plus 50% of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with without giving any consolidated net loss during effect to any fiscal quarter counting as zero) losses), excluding any Consolidated Net Income due to non- cash accounting adjustments, for each fiscal quarter ending on or after December 31, 1998 plus 75% of the net cash proceeds received by Borrower commencing with from any future sale of stock of Borrower or any Subsidiary through any public offering within the fiscal quarter meaning of the Borrower ending June 30, 1997Securities Act of 1933.

Minimum Consolidated Net Worth. The Borrower will not In the case of the Borrower, permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 140,310,000 plus (ii) thirty percent (30%) 40% of the sum of the Cumulative Consolidated Net Income as of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter last day of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997most recently ended plus (iii) 40% of the net cash proceeds of any issuance by the Borrower of Capital Stock after the Closing Date.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 260,000,000 plus (ii) thirty percent (30%) an amount equal to 50% of the sum of the Borrower's Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of ending after the Borrower commencing with the Initial Borrowing Date (without deduction for any fiscal quarter of in which the Borrower ending June 30, 1997Borrower's Consolidated Net Income is negative).

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at the end of any time fiscal quarter to be less than the sum of (ia) $250,000,000 390,000,000 plus (iib) thirty percent (30%) 50% of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zeroincome (if positive, with no deduction for losses) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30after December 31, 19972009.

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than the sum greater of (i) $250,000,000 plus 13,000,000, or (ii) thirty ninety-five percent (3095%) of its actual net worth as of December 31, 1998, plus fifty percent (50%) of positive net income since December 31, 1998, plus one hundred percent (100%) of the sum net proceeds of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997stock issuance."

Minimum Consolidated Net Worth. The Borrower will not shall not, at any time, suffer or permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 12,500,000 plus (ii) thirty percent (30%) 40% of the sum of the Consolidated cumulative Reported Net Income of the Borrower (with any consolidated net loss and its Consolidated Subsidiaries during any fiscal period after December 31, 1995 (taken as one accounting period), calculated quarterly but excluding from such calculations of Reported Net Income for purposes of this Section any quarter counting as zero) for each fiscal quarter in which the Reported Net Income of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997and its Consolidated Subsidiaries is negative.

Minimum Consolidated Net Worth. The Borrower will not permit its ------------------------------ Consolidated Net Worth at the end of any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter to be less than $10,000,000 less than Consolidated Net Worth as of the Borrower ending June 30, 1997Initial Borrowing Date plus 75% of positive Consolidated Net Income from the Initial Borrowing Date to any date of determination.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 670,000,000 plus (ii) thirty percent (30%) 50% of the sum of the Consolidated Net Income consolidated net income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for and its Consolidated Subsidiaries in each fiscal quarter of the Borrower commencing with the completed fiscal quarter of the Borrower ending June after September 30, 19972001 (with no deduction for a net loss in any such fiscal quarter).

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 220,000,000 plus (ii) thirty percent (30%) an amount equal to 50% of the sum of the Borrower's Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of ending after the Borrower commencing with the Initial Borrowing Date (without deduction for any fiscal quarter of in which the Borrower ending June 30, 1997Borrower's Consolidated Net Income is negative).

Minimum Consolidated Net Worth. The Borrower will shall not at any time permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 700,000,000 plus (ii) thirty percent (30%) an amount equal to 50% of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zeroif positive) for each fiscal quarter of the Borrower Fiscal Quarter, commencing with the fiscal quarter of the Borrower ending June 30, 19972004.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time during any fiscal quarter commencing after March 31, 1997 of the Borrower to be less than an amount equal to $63,500,000 plus the product of (x) 85% and (y) the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum amount of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the ending after January 1, 1997 (without any reduction for any negative Consolidated Net Income for any fiscal quarter of the Borrower ending June 30, 1997quarter).

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than the sum $488,000,000.00 plus 50% of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the cumulative Consolidated Net Income for all fiscal quarters ending after June 29, 2002 and prior to the date of the Borrower (with determination; provided that, if Consolidated Net Income for any consolidated net loss during any such fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30is negative, 1997cumulative Consolidated Net Income shall not be reduced.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 260,000,000 plus (ii) thirty percent (30%) an amount equal to 50% of the sum of the Borrower’s Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the ending after May 28, 2004 (without deduction for any fiscal quarter of in which the Borrower ending June 30, 1997Borrower’s Consolidated Net Income is negative).

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at the end of any time fiscal quarter to be less than the sum $90,000,000.00 plus 50% of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with without giving any consolidated net loss during effect to any fiscal quarter counting as zero) losses), excluding any Consolidated Net Income due to non- cash accounting adjustments, for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending on or after June 30, 19971997 plus 50% of the net cash proceeds received by Borrower from any future sale of stock of Borrower or any Subsidiary through any public offering within the meaning of the Securities Act of 1933.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 615,000,000 plus (ii) thirty percent (30%) 50% of the sum of the Consolidated Net Income consolidated net income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for and its Consolidated Subsidiaries in each fiscal quarter of the Borrower commencing with the completed fiscal quarter of the Borrower ending June 30after March 31, 19972000 (with no deduction for a net loss in any such fiscal quarter).

Minimum Consolidated Net Worth. The Borrower will shall not permit its Consolidated Net Worth at any time to be less than the sum of (ia) $250,000,000 27,500,000 plus (iib) thirty fifty percent (3050%) of Net Income (if positive) calculated separately for each fiscal quarter ending on or after March 31, 2000 plus (c) one hundred percent (100%) of the sum net cash proceeds resulting from the issuance by the Borrower of any Capital Stock, plus (d) the Consolidated Net Income Worth of any Person whose Capital Stock is contributed to the capital of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997Borrower.

Minimum Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth to be less, at any time to be less date, than the sum of (i) $250,000,000 plus 1,600,000,000, (ii) thirty percent (30%) 50% of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each completed fiscal quarter of the Borrower commencing with the that shall have begun after December 31, 1999 (excluding any fiscal quarter for which Consolidated Net Income is negative), and (iii) 50% of the Borrower ending June 30amount by which Consolidated Net Worth is increased after December 31, 19971999 as a result of issuances of equity securities by the Borrower.