Minimum Tangible Capital Base. The Borrower shall maintain at all times a Tangible Capital Base of not less than $50,000,000.
Minimum Tangible Capital Base. The Company shall maintain at all times a Tangible Capital Base of not less than $40,000,000.
Minimum Tangible Capital Base. Borrower shall have on a consolidated basis with its Subsidiaries at the end of each Fiscal Quarter and Fiscal Year, a Tangible Capital Base of not less than $68,000,000. As of the end of each Fiscal Year commencing December 31, 2003, and as of the end of each of Borrower's second Fiscal Quarter in each Fiscal Year, the minimum Tangible Capital Base requirement hereunder shall increase (but on no event shall it decrease) by an amount equal to fifty percent (50%) of the amount of Borrower's Net Income for the six (6) month period then ending. Such increases to the minimum Tangible Capital Base requirement hereunder shall be cumulative and shall be carried forward and included in the minimum Tangible Capital Base requirement for each subsequent Fiscal Quarter and Fiscal Year, subject to further increase in accordance with the provisions of this paragraph (c).
Minimum Tangible Capital Base. The Borrower, on a consolidated basis, shall maintain at all times, as measured at the end of each fiscal quarter, commencing April 30, 1998, a Tangible Capital Base of not less than $8,500,000, and such minimum dollar amount shall increase from year to year by the sum of 50% of the Borrower's Net Income for each previous fiscal year (with no reduction for losses) commencing with the annual Net Income determined as of January 31, 1999.
Minimum Tangible Capital Base. The Borrower shall maintain a minimum Tangible Capital Base of $5,700,000.00, measured quarterly, commencing as of September 30, 2021. Annually, commencing with the financial statements delivered for the fiscal year ending December 31, 2022, the minimum Tangible Capital Base requirement shall increase by an amount equal to fifty percent (50%) of the sum of Borrower’s net income minus distributions.
Minimum Tangible Capital Base. The Company shall at all times maintain a Tangible Capital Base of not less than the lesser of Two Million Swiss francs (CHF 2,000,000) or One Million Two Hundred Fifty Thousand and 00/100 Dollars ($1,250,000.00) as of the Closing Date through and including the payment and satisfaction in full of all Obligations and termination of this Agreement.
Minimum Tangible Capital Base. The Company shall maintain at all times a Tangible Capital Base of not less than $50,000,000.
Minimum Tangible Capital Base. The Borrowers, on a consolidated basis, shall maintain at all times, as measured at the end of each fiscal quarter, commencing June 30, 1998, a Tangible Capital Base of not less than $4,750,000, and such minimum dollar amount shall increase from year to year by the sum of (a) 50% of the Borrowers' Net Income for each previous fiscal year (with no reduction for losses) commencing with the annual net income determined as of December 31, 1998 plus (b) 100% of net proceeds from the sale of stock or asset sales after January 1, 1998, plus (c) 100% of the amount of any issuance of additional Subordinated Debt, plus (d) 75% of the net proceeds from the Mass Mutual Transaction.
Minimum Tangible Capital Base. The Tangible Capital Base shall not be less than the amounts set forth below at the end of each three (3) month fiscal period set forth below: Period Minimum Tangible Capital Base ------ ----------------------------- July 1, 1998 to September 30, 1998 $5,300,000 October 1, 1998 to December 31, 1998 $4,600,000 January 1, 1999 to March 31, 1999 $2,800,000 April 1, 1999 to June 30, 1999 $1,500,000 July 1, 1999 to September 30, 1999 $ 650,000 In addition, for the three (3) month quarterly fiscal period ending after December 31, 1999, and for each three (3) month quarterly fiscal period ending thereafter, the Borrower and its Subsidiaries shall have a Tangible Capital Base of not less than $550,000.
Minimum Tangible Capital Base. The Company shall maintain a ----------------------------- Tangible Capital Base, measured as at each of the dates set forth below, equal to or greater than the amount set forth opposite such date: Minimum Fiscal Quarter End Tangible Capital Base ------------------ March 31, 1998 $ (5,500,000) June 30, 1998 (8,000,000) September 30, 1998 (11,000,000) December 31, 1998 (12,000,000) March 31, 1999 (10,000,000) June 30, 1999 (7,500,000) September 30, 1999 (2,500,000) December 31, 1999 2,500,000 March 31, 2000 and the last day $2,500,000 plus 80% of the of each fiscal quarter of the cumulative amount of Net Company thereafter Income earned by the Company for each fiscal quarter subsequent to December 31, 1999.
