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) $358,000,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income (excluding any Consolidated Net Income realized from the reversal of any deferred tax assets), if positive, of the Loan Parties and their Subsidiaries from and after January 1, 2015, plus (ii) 50% of the net proceeds from any equity offerings of Parent from and after the Restatement Effective Date plus (iii) 75% of deferred tax assets to the extent included on the financial statements delivered in accordance with Section 6.1.

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) $358,000,000 642,500,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income (excluding any Consolidated Net Income realized from the reversal of any deferred tax assets), if positive, of the Loan Parties and their Subsidiaries from and after January April 1, 20152019, plus (ii) 50% of the net proceeds from any equity offerings of Parent from and after the Restatement Effective Date April 1, 2019, plus (iii) 75% of deferred tax assets to the extent included on the financial statements delivered in accordance with Section 6.1.”

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) $358,000,000 451,000,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income (excluding any Consolidated Net Income realized from the reversal of any deferred tax assets), if positive, of the Loan Parties and their Subsidiaries from and after January April 1, 20152016, plus (ii) 50% of the net proceeds from any equity offerings of Parent from and after the Restatement Effective Date April 1, 2016 plus (iii) 75% of deferred tax assets to the extent included on the financial statements delivered in accordance with Section 6.1.

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) $358,000,000 208,000,000 plus (b) the sum of (i) 50% of the cumulative Consolidated Net Income (excluding any Consolidated Net Income realized from the reversal of any deferred tax assets), if positive, of the Loan Parties and their Subsidiaries from and after January July 1, 2015, 2013 plus (ii) 50% of the net proceeds from any equity offerings of Parent from and after the Restatement Effective Closing Date plus (iii) 75% of deferred tax assets to the extent included on the financial statements delivered in accordance with Section 6.1.