Common use of Minimum Consolidated Tangible Net Worth Clause in Contracts

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a Consolidated Tangible Net Worth of not less than $150,000,000 plus: (a) 25% of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 2010.

Minimum Consolidated Tangible Net Worth. The Borrower shall shall, at all times, maintain a Consolidated Tangible Net Worth of not less than $150,000,000 500,000,000 plus: (a) 25% 25 per cent. of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter Accounting Period commencing on or after July 1, 201031 December 2013; and (b) 50% of the value 50 per cent. of the Equity Proceeds realized realised from any issuance of Equity Interests in the Borrower occurring on or after July 1, 201031 December 2013.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 547,000,000, plus (aii) 2575% of Consolidated Net Income (if positive) earned in each fiscal quarter beginning with the fiscal quarter ending March 31, 2004, plus (iii) 75% of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% amount of the value of the Equity all Net Cash Proceeds realized resulting from any issuance of Equity Interests in the Borrower occurring on Borrower's or after July 1, 2010any Subsidiary's capital stock.

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a Consolidated Tangible Net Worth (exclusive of intercompany payables and receivables between Borrower and Guarantor) of not less than the sum of (i) $150,000,000 plus: 15,750,000, plus (aii) 25% an amount equal to fifty percent (50.0%) of the Borrower’s cumulative's cumulative Net Income, positive consolidated net income as calculated on an annual basis for each fiscal quarter year of Borrower commencing on or after July 1with Borrower's fiscal year ending December 31, 2010; and (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 20101998.

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a will not allow its Consolidated Tangible Net Worth of not to ever be less than the sum of (i) $150,000,000 plus: 48,000,000, plus (aii) 25as of the end of each fiscal quarter beginning with the fiscal quarter ending June 30, 2001, 50% of Borrower's Consolidated Net Income for such fiscal quarter then ended (but only if positive) and (iii) 75% of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% of proceeds received by Borrower from the value of the Equity Proceeds realized from any issuance of Equity Interests in any equity securities after the Borrower occurring on or after July 1, 2010Effective Date.

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a Consolidated Tangible Net Worth of not will at no time be less than $150,000,000 plus: 36,000,000 plus forty percent (a40%) 25% of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% cumulative Consolidated Net Income of the value Borrower and its Consolidated Subsidiaries during any period after March 31, 2001 (taken as one accounting period), calculated quarterly but excluding from such calculations any quarter in which the Consolidated Net Income of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 2010and its Consolidated Subsidiaries is negative.

Minimum Consolidated Tangible Net Worth. The At all times, Borrower shall maintain a Consolidated Tangible Net Worth of not less than $150,000,000 plus: (a) 25% of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 20,000,000 plus 50% of the value Consolidated Net Income on a cumulative basis for all preceding fiscal quarters of Borrower, commencing with the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1fiscal quarter ended March 31, 20102003.

Minimum Consolidated Tangible Net Worth. The As of the end of each fiscal quarter, the Borrower shall maintain a will not permit Consolidated Tangible Net Worth of not to be less than $150,000,000 plus: 62,090,000, plus on a cumulative basis and commencing with the Borrower's fiscal quarter ending December 31, 2001, fifty percent (a50%) 25% of the Borrower’s cumulative, positive consolidated net income 's Consolidated Net Income (without any reduction for losses) for each consecutive two fiscal quarter commencing on or after July 1, 2010; and (b) 50% quarters of the value Borrower ending on June 30 and December 31 of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 2010each year.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than $150,000,000 plus: the sum of (a) 25$135,000,000, plus (b) 75% of the cumulative positive Consolidated Net Income, if any, earned from October 1, 2003 to the date of calculation, plus (c) 75% of the Net Available Proceeds of any equity issuance in excess of $1,000,000 (including any capital contribution to surplus of the Borrower in respect of which no additional shares are issued) by the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing if any, made on or after July October 1, 2010; and (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 20102003.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 1,800,000,000, plus (aii) 2575% of Consolidated Net Income (if positive) earned in each fiscal quarter beginning with the fiscal quarter ending March 31, 2007, plus (iii) 75% of the amount of all Net Cash Proceeds resulting from any issuance of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and any Subsidiary’s capital stock (b) 50% of other than the value of the Equity Proceeds realized from any issuance of Equity Interests in such stock to the Borrower occurring on or after July 1, 2010a Subsidiary).

Minimum Consolidated Tangible Net Worth. The Borrower shall will maintain at all times a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 250,000,000 plus (aii) 25% fifty percent (50%) of the Borrower’s cumulativeConsolidated Net Income earned after March 31, positive consolidated net income for each fiscal 1995 (excluding any quarter commencing on or after July 1, 2010; and in which there is a loss) plus (biii) 50% one hundred percent (100%) of the value net proceeds of the Equity Proceeds realized from any issuance of Equity Interests in capital stock issued by the Borrower occurring on or after July 1March 31, 20101995.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than the sum of (i) $150,000,000 plus: 15,000,000.00 plus (aii) 2590% of the Borrower’s cumulative, positive consolidated net income for Consolidated Net Income earned in each fiscal quarter commencing year beginning with the fiscal year ending on or after July 1about August 31, 2010; and 2002 (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 2010without deduction for losses).

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a Consolidated Tangible Net Worth of not less greater than $150,000,000 plus: 677,286,768 plus (a) 25% 25 percent of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July October 1, 2010; and 2013, and (b) 50% of the value 50 percent of the Equity Proceeds realized from any the issuance of Equity Interests in the Borrower occurring on or after July October 1, 20102013.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 2,300,000,000, plus (aii) 2575% of Consolidated Net Income (if positive) earned in each completed fiscal year beginning with the Borrower’s cumulativefiscal year ending December 31, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 20102011.

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a an Consolidated Tangible Net Worth of not less than $150,000,000 plus: at least the sum of (a) 2590% of the Borrower’s cumulativeConsolidated Tangible Net Worth of the Borrower as of the date of this Agreement, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% of the value cumulative Consolidated Net Income of the Borrower and its Restricted Subsidiaries after the date of this Agreement (if positive), and (c) 100% of the Net Proceeds of any Qualified Equity Proceeds realized from any issuance Offering after the date of Equity Interests in the Borrower occurring on or after July 1, 2010this Agreement.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 2,700,000,000, plus (aii) 2575% of Consolidated Net Income (if positive) earned in the Borrower’s cumulativefiscal year ending December 31, positive consolidated net income for each fiscal quarter commencing on or after July 12013, 2010; and plus (biii) 50% of Consolidated Net Income (if positive) earned in each completed fiscal year beginning with the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1fiscal year ending December 31, 20102014.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 2,700,000,000, plus (aii) 2575% of Consolidated Net Income (if positive) earned in each completed fiscal year beginning with the Borrower’s cumulativefiscal year ending December 31, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 20102013.

Minimum Consolidated Tangible Net Worth. The Borrower --------------------------------------- shall maintain a its Consolidated Tangible Net Worth Worth, determined as of the end of each fiscal quarter of the Borrower, at not less than $150,000,000 plus: the sum of (ai) 25% of the Borrower’s cumulative10,000,000, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (bii) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or positive Net Income for fiscal quarters ending after July December 1, 20101998, and (iii) all Net Equity Proceeds.

Minimum Consolidated Tangible Net Worth. The As of the end of each fiscal quarter, the Borrower shall maintain a will not permit Consolidated Tangible Net Worth of not to be less than $150,000,000 plus: 62,090,000, plus on a cumulative basis and commencing with the Borrower’s fiscal quarter ending December 31, 2001, fifty percent (a50%) 25% of the Borrower’s cumulative, positive consolidated net income Consolidated Net Income (without any reduction for losses) for each consecutive two fiscal quarter commencing on or after July 1, 2010; and (b) 50% quarters of the value Borrower ending on June 30 and December 31 of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 2010each year.

Minimum Consolidated Tangible Net Worth. The Commencing January 1, 2003, Borrower shall maintain a at all times Consolidated Tangible Net Worth of in an amount not less than $150,000,000 plus: the sum of (a) 25% of the Borrower’s cumulative$5,000,000, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and plus (b) Borrower's Consolidated Net Income commencing January 1, 2003 on a cumulative basis (provided no negative adjustment will be made in the event such amount is a deficit figure for such period) multiplied by fifty percent (50% %), plus (c) one hundred percent (100%) of the value net proceeds of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on capital contribution or after July 1, 2010equity offering.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than (i) $150,000,000 plus: 500,000,000, plus (aii) 2575% of Consolidated Net Income (if positive) earned in each fiscal quarter beginning with the fiscal quarter ending June 30, 2003, plus (iii) 75% of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% amount of the value of the Equity all Net Cash Proceeds realized resulting from any issuance of Equity Interests in the Borrower occurring on Borrower's or after July 1, 2010any Subsidiary's capital stock.

Minimum Consolidated Tangible Net Worth. The Borrower shall will maintain at all times a Consolidated Tangible Net Worth of not less than the sum of (i) $150,000,000 plus: 195,000,000 (asubject to adjustment of such amount as hereinafter provided), (ii) 25% an amount equal to fifty percent (50%) of the Borrower’s cumulative, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% cumulative Net Income of the value Borrower earned after March 31, 2000 (excluding any quarter in which there is a loss), and (iii) one hundred percent (100%) of the Equity Proceeds realized net proceeds received after March 31, 2000 by the Borrower or any Subsidiary from any the sale or issuance of Equity Interests in the Borrower occurring on or after July 1, 2010any of its Common Equity.

Minimum Consolidated Tangible Net Worth. The Borrower shall will at all times maintain a Consolidated Tangible Net Worth of not less than the sum of (i) $150,000,000 plus: 87,000,000, plus (aii) 25% fifty percent (50%) of Consolidated Net Income after December 31, 2008 (taken as one accounting period), but excluding from such calculation of Consolidated Net Income for purposes of this clause (ii) any quarter in which Consolidated Net Income is negative, measured as of the Borrower’s cumulativeend of each Fiscal Quarter commencing with the Fiscal Quarter ending September 30, positive consolidated net income for each fiscal quarter commencing on or after July 1, 2010; and (b) 50% of the value of the Equity Proceeds realized from any issuance of Equity Interests in the Borrower occurring on or after July 1, 20102009.

Minimum Consolidated Tangible Net Worth. The Borrower shall maintain a not permit Consolidated Tangible Net Worth of not to be less than $150,000,000 plus: (a) 25% than, as of the Borrower’s cumulativelast day of any fiscal quarter, positive consolidated net income an amount equal to $117,203,000 plus the sum for each fiscal quarter commencing on or ending after July 1, 2010; and (b) the Restatement Date of 50% of the value net income, if positive, of the Equity Proceeds realized from Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of Equity Interests in equity by the Borrower occurring on or after July 1, 2010Borrower.