Minimum Tangible Net Worth Test Sample Clauses

Minimum Tangible Net Worth Test. As of the end of each fiscal quarter of the Borrower, fail to maintain minimum Consolidated Tangible Net Worth not less than (i) $182,888,000 plus (ii) the sum of (A) 50% of the cumulative Consolidated Net Income, if positive, of the Loan Parties and their respective Subsidiaries (other than Unrestricted Subsidiaries) from and after December 31, 2013 plus (B) 50% of the net proceeds from any equity offerings of the Borrower occurring on or after the Closing Date, other than such proceeds used to refinance the Borrower’s preferred shares.
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Minimum Tangible Net Worth Test. As of the end of each fiscal quarter of the Borrower, fail to maintain minimum Consolidated Tangible Net Worth not less than (i) $228,881,000 plus (ii) the sum of (A) 50% of the cumulative Consolidated Net Income, if positive, of the Loan Parties and their respective Subsidiaries (other than Unrestricted Subsidiaries) from and after December 31, 2013 through the end of the fiscal quarter as of which Consolidated Tangible Net Worth is being determined plus (B) 50% of the net proceeds from any equity offerings (it being understood that any conversion of convertible securities shall not be considered an equity offering) of the Borrower occurring on or after December 31, 2013 through the end of the fiscal quarter as of which Consolidated Tangible Net Worth is being determined.
Sample 1
Minimum Tangible Net Worth Test. As of the end of each fiscal quarter of the Borrower, fail to maintain minimum Consolidated Tangible Net Worth not less than (i) $325,059,027 plus
Sample 1
Minimum Tangible Net Worth Test. The Adjusted Tangible Net Worth at the end of each fiscal quarter shall be equal to or greater than the Base Tangible Net Worth amount for such fiscal quarter. Adjusted Tangible Net Worth shall mean, as of the date in question, Tangible Net Worth as of such date plus an amount equal to the aggregate outstanding principal amount of the Note as of such date. Base Tangible Net Worth shall mean (A) $16,800,000, plus (B) (on a cumulative basis) for each fiscal quarter, the sum of (I) fifty percent (50%) of Net Income (if positive) earned in each fiscal quarter commencing after the Closing Date and (II) one hundred percent (100%) of the cash proceeds of the issuance of any and all shares, share capital, interests, participations, warrants, options or other equivalents (however designated) if capital stock of a corporation and any and all equivalent ownership interests of a Person other than a corporation.
Sample 1

Related to Minimum Tangible Net Worth Test

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) 203,170,000 plus (ii) 75% of the Net Proceeds of all Equity Issuances effected at any time after the Agreement by the Parent, the Borrower or any of the Subsidiaries of the Parent to any Person other than the Parent, the Borrower or any of the Subsidiaries of the Parent.

  • Minimum Adjusted Tangible Net Worth Seller shall not permit the Adjusted Tangible Net Worth of Seller (and, if applicable, its Subsidiaries, on a consolidated basis), computed as of the end of each calendar month, to be less than $25,000,000.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

  • Minimum Consolidated Tangible Net Worth (a) Prior to consummation of the Merger, the Borrower will not at any time permit Consolidated Tangible Net Worth to be less than the sum of (i) $788,000,000.00 plus (ii) seventy-five percent (75%) of the sum of any additional Net Offering Proceeds after the date of this Agreement.

  • Tangible Net Worth The Seller will not permit its tangible net worth, at any time, to be less than $10,000,000.

  • Consolidated Tangible Net Worth (i) The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Total Liabilities to Tangible Net Worth Ratio Maintain a ratio of total liabilities to Tangible Net Worth of less than .80 to 1.0 as of the end of each fiscal quarter.

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • Minimum Net Worth The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

  • Debt to Tangible Net Worth Borrower will at all times maintain a ratio of total liabilities to tangible net worth of not greater than 1.0:1.0.

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