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 at least (a) $1,513,219,400.001,949,562,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net 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 September 30, 20202021.

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of at least (a) $1,513,219,400.001,949,562,000 1,949,562,0002,817,640,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net 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 September 3030March 31, 2020202120212023.

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of at least (a) $1,513,219,400.001,949,562,000 2,817,640,0003,272,113,600 plus (b) the sum of (i) 50% of the cumulative Consolidated Net 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 September 30March 31, 2020202120232024.

Minimum Net Worth Test. As of the end of each fiscal quarter, fail Fail to maintain minimum Consolidated Tangible Net Worth of at least (a) $1,513,219,400.001,949,562,000 625,142,250, plus (b) the sum of (i) 50% of the cumulative Consolidated Net 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 September 30, 20202021Closing Date.

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of at least not less than (a) $1,513,219,400.001,949,562,000 670,345,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income of each fiscal quarter where net income is positiveIncome, 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 September 30March 31, 202020212014.

Minimum Net Worth Test. As of the end of each fiscal quarter, fail to maintain minimum Consolidated Tangible Net Worth of at least not less than (a) $1,513,219,400.001,949,562,000 360,021,008 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income of each fiscal quarter where net income is positiveIncome, 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 September 30March 31, 202020212012.

Minimum Net Worth Test. As of the end of each fiscal quarter, fail Fail to maintain minimum Consolidated Tangible Net Worth of at least (a) $1,513,219,400.001,949,562,000 625,142,250770,012,600 , plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income of each fiscal quarter where net income is positive, of the Loan Parties and their Restricted Subsidiaries from and after JulyJanuary 1, 20222024 , 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 September 30, 20202021ClosingFirst Amendment Effective Date.