Common use of Minimum Stockholders’ Equity Clause in Contracts

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 40% 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) $514,293,338.30 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 (a) the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries, (b) proceeds of any distribution reinvestment plan used to redeem or repurchase Equity Interests of the Borrower and (c) the net cash proceeds received by the Borrower from any issuance of any Equity Interest of the Borrower that have been applied in accordance with Section 6.05(e)).

Minimum Stockholders’ Equity. The Borrower will not permit Stockholders’ Equity as of the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 4055% 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) $514,293,338.30 95,074,802.70 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 (a) the proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries, (b) proceeds of any distribution reinvestment plan used to redeem or repurchase Equity Interests of the Borrower and (c) the net cash proceeds received by the Borrower from any issuance of any Equity Interest of the Borrower that have been applied in accordance with Section 6.05(e)).