Minimum Effective Tangible Net Worth Sample Clauses

Minimum Effective Tangible Net Worth. Borrower shall maintain, commencing as of December 31, 2002, and on the last day of each fiscal quarter of Borrower thereafter, Effective Tangible Net Worth of at least Twenty Three Million and 00/100 Dollars ($23,000,000.00); provided, however that such amount shall increase, on a cumulative basis, by an amount equal to eighty percent (80%) of net income after taxes in the trailing four (4) fiscal quarter period (with no deduction for losses).
Sample 1
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Minimum Effective Tangible Net Worth. Maintain a minimum Effective Tangible Net Worth of not less than $23,000.00.
Sample 1
Minimum Effective Tangible Net Worth. Borrower shall maintain, on a quarterly basis, minimum Effective Tangible Net Worth of not less than Three Million Five Hundred Thousand and 00/100 Dollars ($3,500,000.00).
Sample 1
Minimum Effective Tangible Net Worth. Maintain as at the end of each Fiscal Quarter Consolidated Effective Tangible Net Worth of an amount equal to no less than the sum of (a) $270,000,000 plus (b) an amount equal to 75.0% of the cumulative quarterly net income, exclusive of losses of the Borrower and its Subsidiaries (exclusive of profits from joint ventures of which the Borrower or any of its Subsidiaries is a partner or member) commencing with the Fiscal Quarter beginning July 1, 1997 plus (c) an amount equal to 100.0% of the net proceeds received by the Borrower or its Subsidiaries on or after July 1, 1997 from any issuances of Stock, other equity interests of the Borrower or its Subsidiaries or Subordinated Debt; provided, however, that in the event that, in connection with one or more Acquisitions on or after July 1, 1997 by the Borrower or its Subsidiaries, the Borrower's public accountants determine that previously incurred costs associated with in-process research and development must be written off, the minimum required Consolidated Effective Tangible Net Worth shall be reduced by the amount of such write-offs to the extent that the aggregate amount of all such write-offs in connection with such Acquisitions does not exceed $50,000,000.
Sample 1
Minimum Effective Tangible Net Worth. A minimum Effective Tangible Net Worth, as hereinafter defined, of at least the amount indicated below as of the last day of each corresponding fiscal quarter. 12/31/08 $ 16,500,000 3/31/09 $ 17,500,000 6/30/09 $ 18,500,000 9/30/09 through 6/30/10 $ 19,500,000 9/30/10 and thereafter $ 21,000,000 Effective Tangible Net Worth means Total Assets minus the sum of (i) Intangible Assets, and (ii) Total Liabilities except Subordinated Debt; Total Assets means total assets determined in accordance with GAAP; Intangible Assets means assets that in accordance with GAAP are properly classifiable as intangible assets including, but not limited to goodwill, franchises, licenses, patents, trademarks, trade names, and copyrights and “soft assets” such as assets due from officers, employees, stockholders, affiliates and related parties.” (G) The following sections shall be added to the Agreement:
Sample 1
Minimum Effective Tangible Net Worth. As of the end of any Fiscal Quarter, commencing with the Fiscal Quarter ending on March 31, 2020, Borrower shall maintain Effective Tangible Net Worth of not less than the $25,000,000.
Sample 1
Minimum Effective Tangible Net Worth. Permit the Effective Tangible Net Worth of the Company and its Subsidiaries on a consolidated basis: (1) as of the end of any fiscal quarter ending on or before the last day of the First Quarter of the Company's 2004 Fiscal Year, to be less than $5,800,000.00, and (2) as of the end of any fiscal quarter thereafter, $6,300,000.00." (e) Paragraph 13(m) of the Credit Agreement is hereby amended to read in its entirety as follows:
Sample 1
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Minimum Effective Tangible Net Worth. Permit as of the end of any fiscal quarter the Effective Tangible Net Worth of the Company and its Subsidiaries on a consolidated basis to be less than $4,900,000.00.
Sample 1
Minimum Effective Tangible Net Worth. A Minimum Effective Tangible Net Worth equal to or greater than Twenty Million Dollars ($20,000,000) at any time during the term of this Agreement, measured at the end of each calendar quarter.
Sample 1

Related to Minimum Effective Tangible Net Worth

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) $731,508,263 plus (ii) 75% of the Net Proceeds of all Equity Issuances effected at any time after the Agreement by the Parent, the Borrower or any of the Subsidiaries of the Parent to any Person other than the Parent, the Borrower or any of the Subsidiaries of the Parent.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

  • Tangible Net Worth The Seller will not permit its tangible net worth, at any time, to be less than $10,000,000.

  • Minimum Consolidated Tangible Net Worth Borrower shall not permit Consolidated Tangible Net Worth to be less than $600,000,000 plus eighty-five percent (85%) of the Net Proceeds of any Equity Issuance received after the Agreement Execution Date.

  • Consolidated Tangible Net Worth The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • 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 Net Worth The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $265,000,000 plus (ii) fifty percent (50%) of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending December 31, 1997 (without deduction for losses).

  • Minimum EBITDA Section 9.23(c) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

  • Minimum Adjusted EBITDA Borrower shall maintain a minimum trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of such test date, of at least the greater of (a) $75,000,000 and (b) an amount equal to 75% of the trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), for the immediately preceding six-month period, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 30.

  • Maintenance of Tangible Net Worth The Borrower shall maintain during each Fiscal Quarter a Tangible Net Worth of not less than the Minimum Tangible Net Worth.

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