Net Worth Maintenance. If at the close of any month, there is a Net Worth Deficiency for such month, Finance shall forthwith send to Fuji a Net Worth Certification with respect thereto (accompanied by financial statements for such period) requesting Fuji to purchase, or to cause a subsidiary of Fuji to purchase, shares of NW Preferred Stock from Finance having an aggregate liquidation preference equal to such Net Worth Deficiency, and Fuji shall, within five Business Days after receipt by Fuji of such written request from Finance, purchase, or cause a subsidiary of Fuji to purchase, shares of NW Preferred Stock from Finance in such amount, against delivery of such shares to Fuji or the Branch or such subsidiary, as Fuji shall elect by three Business Days' prior written notice to Finance.
Net Worth Maintenance. On the Issue Date, and at all times thereafter determined at the end of each fiscal quarter, the Company shall maintain Consolidated Net Worth equal to (i) $40 million plus (ii) the cumulative amount equal to twenty-five percent (25%) of the Consolidated Net Income (but not loss), if any, of the Company and its Subsidiaries for each fiscal quarter commencing with the quarter ending March 31, 1997.
Net Worth Maintenance. Fail to maintain at all times a minimum consolidated Net Worth of not less than $88,000,000 as of December 31, 1998 plus 65% of positive cumulative net income (with no deductions for net losses) to be added at the end of each fiscal year for all periods subsequent to December 31, 1998.
Net Worth Maintenance. The Managing Partner shall at all times maintain a net worth of at least $10,000.
Net Worth Maintenance. On the Issue Date, and at all times thereafter determined at the end of each fiscal quarter, the Company shall maintain Consolidated Net Worth equal to (a) $174.0 million plus (b) a cumulative amount equal to twenty-five percent (25%) of the Consolidated Net Income (but not loss), if any, of the Company and its Subsidiaries for each fiscal quarter commencing with the quarter after the Issue Date less (c) an amount equal to the difference between (x) the principal amount of Senior Notes Outstanding on the Issue Date and (y) the principal amount of Senior Notes Outstanding on the last day of the quarter for which the determination is being made (to a maximum deduction of $50.0 million pursuant to this clause (c)).
Net Worth Maintenance. The Shell GP and the Tejas GP or any other General Partner shall separately maintain their share of Minimum Net Worth. Each General Partner's share of Minimum Net Worth shall be the product of the (i) Minimum Net Worth, times (ii) the proportion (expressed as a percentage) that such General Partner's Partnership Percentage bears to the Partnership Percentages of all General Partners. Any indemnity payment made under SECTION 11.2 due to a reclassification of the Partnership as a corporation taxable for federal income tax purposes will be grossed-up for any federal or state taxes related to the receipt by the indemnitee less any tax savings resulting from the indemnity payment, the defaulting General Partner to indemnify the other Partners accordingly.
Net Worth Maintenance. (a) During the Guaranty Period, Genesee will maintain a Liquid Net Worth (defined for this purpose as the excess of (i) unencumbered (1) cash and currency on hand and on deposit, demand deposits and checks held, (2) short-term, highly liquid investments that are readily convertible to known amounts of cash plus (3) marketable securities over (ii) total liabilities, each as determined in accordance with generally accepted accounting practices), in an amount that, in the aggregate, is not less than the following: First 365 days after Closing Date: $ Second 365 days after Closing Date: $ Third 365 days after Closing Date: $
(b) After the Guaranty Period, Genesee will maintain a Liquid Net Worth in an amount that, in the aggregate, is not less than the amount of any claims made by Boston Brewing in accordance with Section 1 hereof that remain unresolved.
Net Worth Maintenance. Borrower must maintain a tangible net worth, determined in accordance with generally accepted accounting principles, in an amount not less than One Hundred Twenty-Five Thousand Dollars ($125,000).
Net Worth Maintenance. In consideration of the value to MBIA that MBIA UK Insurance has the highest possible claims-paying rating and continues to maintain an insurance license in good standing under the laws of England, MBIA hereby agrees to cause MBIA UK Insurance to maintain capital in an amount that is at least equal to the higher of the amount of capital as now or in the future required by laws or regulatory authorities of the United Kingdom or $100,000,000; provided however, any contributions by MBIA for such purpose shall in no event exceed 35% of MBIA’s policyholders’ surplus on an accumulated basis as determined by the laws of the State of New York. Further, contributions by MBIA hereunder shall be made in compliance with §1505 of the New York Insurance Law; provided that MBIA hereby confirms that it may make single contributions to MBIA UK Insurance that do not exceed $300million each without taking any additional actions under §1505 of the New York Insurance Law with respect to any such single contribution. MBIA UK Holdings hereby agrees to contribute immediately to MBIA UK Insurance any funds contributed to it by MBIA in accordance with this Section 2.
Net Worth Maintenance. During the Term (as defined below), ACM hereby agrees, and Xxxxxxx agrees to use his reasonable best efforts to cause ACM, to maintain a Tangible Net Worth equal to:
(A) not less than Thirty Million Dollars ($30,000,000.00) from and after the Closing Date until the Indemnity Termination Date;
(B) not less than the sum of (i) Ten Million Dollars ($10,000,000.00) plus (ii) the amount of any Outstanding Claim(s) (for so long as the underlying claim remains an Outstanding Claim) from and after the Indemnity Termination Date until the third anniversary of the Closing Date; and
(C) not less than the amount of any Outstanding Claim(s) from and after the third anniversary of the Closing Date until the resolution or disposition of such Outstanding Claim in accordance with the Asset Purchase Agreement; provided that in each case of clauses (A), (B) and (C) above, at least two-thirds (66.67%) of the applicable Tangible Net Worth shall be in the form of Cash, OP Units and/or Marketable Securities; provided, further that in the case of clause (A) above, in addition to the requirement in the previous proviso, at least Ten Million Dollars ($10,000,000.00) of the Tangible Net Worth shall be in the form of Cash; and provided, further, that in each case of clauses (B) and (C) above, in no event shall ACM be required, or Xxxxxxx be required to use his reasonable best efforts to cause ACM, to maintain a Tangible Net Worth in excess of Thirty Million Dollars
