Common use of Minimum Stockholders’ Equity Clause in Contracts

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 55% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 4 contracts

Samples: Secured Term Loan Credit Agreement (THL Credit, Inc.), Senior Secured Term Loan Credit Agreement (THL Credit, Inc.), Term Loan Credit Agreement (THL Credit, Inc.)

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Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 55% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 210,830,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Medley Capital Corp), Senior Secured Term Loan Credit Agreement (Medley Capital Corp), Senior Secured Term Loan Credit Agreement (Medley Capital Corp)

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 55% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Amendment No. 1 Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (THL Credit, Inc.), Secured Revolving Credit Agreement (THL Credit, Inc.), Secured Revolving Credit Agreement (THL Credit, Inc.)

Minimum Stockholders’ Equity. The After the Effective Date, the Borrower will not permit Stockholders’ Equity at as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 200,000,000, plus (y) 5065% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Capital Southwest Corp)

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 55% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 175,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured (Medley Capital Corp)

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 130,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Third Restatement Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured (First Eagle Alternative Capital BDC, Inc.)

Minimum Stockholders’ Equity. The After the Effective Date, theThe Borrower will not permit Stockholders’ Equity at as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 200,000,000, plus (y) 5065% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Capital Southwest Corp)

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Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 275,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Restatement Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured (THL Credit, Inc.)

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Original Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured (THL Credit, Inc.)

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (x) $200,000,000 400,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Restatement Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Medley Capital Corp)

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity at as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 5540% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) GAAP and (ii) the sum of (x) $200,000,000 400,000,000 plus (y) 50% of the aggregate net proceeds of all sales of Equity Interests by the Borrower and its Subsidiaries after the Restatement Effective Date (other than the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

Appears in 1 contract

Samples: Senior Secured Term Loan Credit Agreement (Medley Capital Corp)

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