Minimum Tangible Net Worth Covenant. WLH will maintain at all times, on a consolidating basis, a minimum Tangible Net Worth equal to or greater than $175,000,000.00.
Minimum Tangible Net Worth Covenant. Section 6.15.4 of the Loan Agreement is hereby amended by deleting the phrase "March 31, 2010" and replacing it with the phrase "December 31, 2011".
Minimum Tangible Net Worth Covenant. Section 9.9(a) of the Credit Agreement is hereby deleted and restated as follows:
(a) Tangible Net Worth on the last day of any fiscal quarter to be less than the sum of (i) the amount equal to eighty nine and eight tenths percent (89.8%) of Borrower's consolidated Tangible Net Worth computed as of September 30, 2002, plus (ii) as of the end of each fiscal quarter commencing with December 31, 2002, the product of (A) ninety percent (90%) times (b) the consolidated net income of Borrower for the immediately preceding fiscal quarter, provided, that in no case shall such sum be less than the minimum Tangible Net Worth calculated hereunder for the previous quarter.
Minimum Tangible Net Worth Covenant. Guarantor shall maintain a Tangible Net Worth of at least $175,000,000.00 plus fifty percent (50%) of Guarantor’s net profit after tax on a cumulative basis, commencing as of December 31, 2007.”
Minimum Tangible Net Worth Covenant. WLH will maintain, on a consolidating basis, a minimum Tangible Net Worth equal to or greater than Ninety Million Dollars ($90,000,000.00).”
Minimum Tangible Net Worth Covenant. The minimum Tangible Net Worth of WLH, on a consolidated basis but without duplication, is ;
Minimum Tangible Net Worth Covenant. “Minimum Tangible Net Worth” shall be an amount equal to or greater than the sum of the following: (i) eighty five percent (85%) of Tangible Net Worth as of June 30, 2018, (ii) fifty percent (50%) of Net Income reported in each successive Fiscal Quarter with no deduction for operating losses reported for such Fiscal Quarter, (iii) one hundred percent (100%) of the net proceeds from any additional equity offering in excess of Five Million and 00/100 Dollars ($5,000,000.00), and (iv) fifty percent (50%) of any incremental additive equity associated with any Acquisition, less the Merger Shareholder Equity Reduction and less Fleet Renewal Expenses.
Minimum Tangible Net Worth Covenant. Minimum Tangible Net Worth" shall be an amount equal to or greater than the sum of the following: (i) eighty five percent (85%) of Tangible Net Worth as of September 30, 2014, (ii) fifty percent (50%) of Net Income reported in each successive Fiscal Quarter with no deduction for operating losses reported for such Fiscal Quarter, (iii) one hundred percent (100%) of the net proceeds from any additional equity offering in excess of Five Million and 00/100 Dollars ($5,000,000.00), and (iv) fifty percent (50%) of any incremental additive equity associated with any Acquisition.”
6.13 Section 6.15.5 of the Loan Agreement titled “No Net Loss” is hereby amended by adding the following at the end of last sentence of the Section: provided further that for purposes of any add-backs to income on account of any such non-cash impairment charges for such events are calculated at the tax rate of thirty-five percent (35%).
Minimum Tangible Net Worth Covenant. Guarantor shall maintain a Tangible Net Worth of at least $90,000,000.00.”
Minimum Tangible Net Worth Covenant. Borrower shall maintain a minimum Tangible Net Worth of Two Million Five Hundred Thousand Dollars ($2,500,000) at the end of fiscal year 2000, and shall increase said Tangible Net Worth by One Hundred Thousand Dollars ($100,000) at each successive fiscal year end thereafter, tested annually. The term "Tangible Net Worth" shall be defined as net worth less intangible assets. Intangible assets shall be defined as copyrights, patents, trademarks and goodwill.
