Common use of Minimum Net Worth Clause in Contracts

Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, Consolidated Net Worth will not be less than the sum of (a) 80% of Consolidated Net Worth as of December 31, 2000, plus (b) 100% of the Net Cash Proceeds of all Equity Events occurring after December 31, 2000.

Appears in 6 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

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Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, The Borrower will at all times maintain Consolidated Net Worth will of not be less than the sum of (ai) 80$410,000,000 plus (ii) 50% of Consolidated Net Worth as of December Income earned in each fiscal year beginning with the fiscal year ending March 31, 2000, 2001 (without deduction for losses) plus (biii) 100% of the Net Cash Proceeds net cash proceeds received by the Borrower from the issuance or other sale of all Equity Events occurring after December 31, 2000its or its Subsidiaries' Capital Stock.

Appears in 2 contracts

Samples: Credit Agreement (Pioneer Standard Electronics Inc), 364 Day Credit Agreement (Pioneer Standard Electronics Inc)

Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, Consolidated Net Worth will not be less than the sum of (a) 80% of Consolidated Net Worth as of December March 31, 2000, plus (b) 100% of the Net Cash Proceeds of all Equity Events occurring after December 31, 20001999.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, The Borrowers will at all times maintain Consolidated Net Worth will of not be less than the sum of (ai) 8085% of Consolidated Net Worth as at September 30, 1999, plus (ii) (x) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending December 31, 2000, plus 1999 (bwithout deduction for losses) and (y) 100% of the Net Cash Proceeds net proceeds from issuance and sale of all Equity Events occurring after December 31, 2000equity securities of any Borrower or any Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (MPW Industrial Services Group Inc)

Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, Consolidated Net Worth will not be less than the sum of (a) 8075% of Consolidated Net Worth as of December 31, 20002002, plus (b) 10050% of the Net Cash Proceeds of all Equity Events occurring after December 31, 20002002.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

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Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, At no time shall Consolidated Net Worth will not be less than the sum of: (i) the Consolidated Net Worth of the Company and the Consolidated Subsidiaries as at December 31, 1996, plus (aii) 8085% of the positive amount of Consolidated Net Worth as of December 31, 2000, plus (b) 100% of the Net Cash Proceeds of all Equity Events occurring Income for each fiscal period ended after December 31, 20001996, plus (iii) the Net Proceeds of Capital Stock received following the Agreement Date.

Appears in 1 contract

Samples: Credit Agreement (Omega Health Systems Inc)

Minimum Net Worth. As of the last day of each fiscal quarter of the Borrower, Consolidated Tangible Net Worth will not at any time to be less than the sum of (a) 80% of Consolidated Net Worth as of December 31, 2000, $530,000,000 plus (b) 100to the extent positive, 25% of the Consolidated Cumulative Net Cash Proceeds of all Equity Events occurring Income for each fiscal quarter ended after December 31, 20002000 (such required minimum net worth not to be reduced by any consolidated net loss during any such fiscal quarter).

Appears in 1 contract

Samples: Senior Promissory Note Agreement (Alexander & Baldwin Inc)

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