Common use of Minimum Stockholders’ Equity Clause in Contracts

Minimum Stockholders’ Equity. Stockholders' Equity will at no time be less than the sum of (i) $180,000,000, as of the Fiscal Quarter ended closest to December 31, 1996 (the "Base Fiscal Quarter"), plus (ii) fifty percent (50%) of Consolidated Net Income (if positive) for each Fiscal Quarter subsequent to the Base Fiscal Quarter; plus, without duplication, (iii) seventy-five percent (75%) of any net proceeds received by Borrower from any offering of equity securities (other than Redeemable Preferred Stock) by Borrower subsequent to the Closing Date; plus, without duplication, (iv) seventy-five percent (75%) of any net proceeds received by Borrower from any conversion of debt into equity subsequent to the Closing Date; plus, without duplication, (v) seventy-five percent (75%) of any adjustment to equity due to any pooling of interests occurring subsequent to December 31, 1996; plus, without duplication, (vi) seventy-five percent (75%) of any increase in Stockholders' Equity resulting from the issuance or exchange of any equity securities in furtherance of any acquisition constituting a permitted investment under Section 5.19.

Minimum Stockholders’ Equity. Stockholders' Equity will at no time be less than the sum of (i) $180,000,000, as of the Fiscal Quarter ended closest to December 31, 1996 (the "Base Fiscal Quarter"), plus (ii) fifty percent (50%) of Consolidated Net Income (if positive) for each Fiscal Quarter subsequent to the Base Fiscal Quarter; plus, without duplication, (iii) seventy-five percent (75%) of any net proceeds received by Borrower Lessee from any offering of equity securities (other than Redeemable Preferred Stock) by Borrower Lessee subsequent to the Closing DateFebruary 27, 1996; plus, without duplication, (iv) seventy-five percent (75%) of any net proceeds received by Borrower Lessee from any conversion of debt into equity subsequent to the Closing DateFebruary 27, 1996; plus, without duplication, (v) seventy-five percent (75%) of any adjustment to equity due to any pooling of interests occurring subsequent to December 31, 1996; plus, without duplication, (vi) seventy-five percent (75%) of any increase in Stockholders' Equity resulting from the issuance or exchange of any equity securities in furtherance of any acquisition constituting a permitted investment under Section 5.19.in