Common use of Net Worth Covenant Clause in Contracts

Net Worth Covenant. Guarantors will maintain a tangible aggregate net worth at least equal to Fifteen Million Dollars ($15,000,000). For purposes of this Guaranty, “tangible aggregate net worth” means, as of a given date, Guarantors’ equity calculated in conformance with generally accepted accounting principles by subtracting total liabilities from the fair market value of Guarantors’ total tangible assets, excluding Guarantors’ interest in Developer.

Net Worth Covenant. Guarantors will At all times until the Guaranteed Obligations have been fully satisfied, Guarantor shall maintain a tangible aggregate net worth at least equal to Fifteen Million Dollars $70,000,000.00 ($15,000,000the “Net Worth Requirement”). For purposes of this Guaranty, “tangible aggregate net worth” means, as of a given date, Guarantors’ Guarantor’s equity calculated in conformance with generally accepted accounting principles by subtracting total liabilities from the fair market value of Guarantors’ total tangible assets, excluding Guarantors’ interest in Developer.

Net Worth Covenant. Guarantors Guarantor will maintain a tangible aggregate net worth at least equal to Fifteen Twenty-Five Million Dollars ($15,000,00025,000,000). For purposes of this Guaranty, “tangible aggregate net worth” means, as of a given date, Guarantors’ Guarantor’s equity calculated in conformance with generally accepted accounting principles by subtracting total liabilities from the fair market value of Guarantors’ total tangible assets, excluding Guarantors’ interest in Developer.

Net Worth Covenant. Guarantors Each Guarantor will maintain a tangible aggregate net worth at least equal to Fifteen Five Million Dollars ($15,000,0005,000,000). For purposes of this Guaranty, “tangible aggregate net worth” means, as of a given date, Guarantors’ each Guarantor’s aggregate equity calculated in conformance with generally accepted accounting principles by subtracting total liabilities from the fair market value of Guarantors’ total tangible assets, excluding Guarantors’ interest in Developer.