Minimum Consolidated Shareholders’ Equity. The Borrower will not permit Shareholder’s Equity at the last day of any Fiscal Quarter of the Borrower to be less than the greater of (i) 40% of the total assets of the Borrower and its Subsidiaries as at the last day of such Fiscal Quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) $100,000,000 plus 25% of the net proceeds of the sale of Equity Interests by the Borrower and its Subsidiaries after the Closing Date.
Appears in 2 contracts
Samples: Subsidiary Guaranty Agreement (Kayne Anderson Energy Development Co), Secured Revolving Credit Agreement (Kayne Anderson Energy Development Co)
Minimum Consolidated Shareholders’ Equity. The Borrower will not permit Shareholder’s Equity at the last day of any Fiscal Quarter of the Borrower to be less than the greater of (i) 40% of the total assets of the Borrower and its Subsidiaries as at the last day of such Fiscal Quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) $100,000,000 70,000,000 plus 25% of the net proceeds of the sale of Equity Interests by the Borrower and its Subsidiaries after the Closing Date.
Appears in 2 contracts
Samples: Secured Revolving Credit Agreement (Kayne Anderson Energy Development Co), Subsidiary Guaranty Agreement (Kayne Anderson Energy Development Co)
