Common use of Minimum Net Worth Test Clause in Contracts

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than (a) $987,407,400 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if positive, of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31, 2017.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than at least (a) $987,407,400 1,513,219,400.00 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if Income of each fiscal quarter where net income is positive, of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31September 30, 20172020.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than (a) $987,407,400 360,021,008 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if positive, positive of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31, 20172012.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than (a) $987,407,400 670,345,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if positive, positive of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31, 20172014.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than at least (a) $987,407,400 1,513,219,400.001,949,562,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if Income of each fiscal quarter where net income is positive, of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31September 30, 201720202021.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than at least (a) $987,407,400 2,817,640,0003,272,113,600 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if Income of each fiscal quarter where net income is positive, of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31, 201720232024.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than at least (a) $987,407,400 1,110,434,500.00 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if positive, of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March 31, 20172018.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail Fail to maintain minimum Consolidated Tangible Net Worth of not less than at least (a) $987,407,400 625,142,250, plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if Income of each fiscal quarter where net income is positive, of the Loan Parties and their Restricted Subsidiaries from and after July 1, 2022, plus (ii) 50% of the net proceeds from any equity offerings of BorrowerBorrower (other than offerings of Disqualified Stock), in each case, from and after March 31, 2017Closing Date.”

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of not less than at least (a) $987,407,400 1,949,562,0002,817,640,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income, if Income of each fiscal quarter where net income is positive, of the Loan Parties and their Subsidiaries plus (ii) 50% of the net proceeds from any equity offerings of Borrower, in each case, from and after March September 30March 31, 201720212023.”