Net Worth Requirement. The CONTRACTOR shall at all times be in compliance with the net worth requirements in the Insurance Code.
Net Worth Requirement. As of the close of business on the last Business Day prior to the Closing Date (the “RBF Measuring Date”), the Adjusted RBF Shareholders’ Equity shall not be less than $26,250,000 as determined in accordance with GAAP. For purposes of this Section 9.2(d), “Adjusted RBF Shareholders’ Equity” means the equity of RBF as set forth on the balance sheet of RBF on the RBF Measuring Date (excluding any Conforming Adjustments), minus any unrealized gains or plus any unrealized losses (as the case may be) in RBF’s securities portfolio due to xxxx-to-market adjustments as of the RBF Measuring Date and after adding the sum of (a) all fees and expenses of all attorneys, accountants, the RBF Financial Advisor and other advisors and agents for RBF and its Subsidiaries for services rendered solely in connection with the transactions contemplated by this Agreement and which do not exceed in the aggregate $300,000 (exclusive of reasonable costs paid to or advanced by such advisors, and exclusive of attorneys’ fees and expenses for preparing and filing the S-4 Registration Statement), and (b) the payments, if any, made by RBF under the Employment Agreement Termination Letters, and (c) the premiums, if any, paid by RBF for the D&O Insurance in accordance with Section 8.16(c) above.
Net Worth Requirement. As of the end of each fiscal quarter of CCPT IV, permit the sum of (i) Total Stockholders Equity plus Redeemable Common Stock, as reported on its 10-K or 10-Q SEC filings, and (ii) only until July 13, 2013, the principal amount of any Approved Subordinated Debt, to be less than $115,506,416.00 plus 75% of the Net Equity Contributions or sales of treasury stock received by CCPT IV after September 30, 2012.
Net Worth Requirement. Mxxxxx Investors, Inc. hereby represents and warrants to Purchaser that it has, and for a period of three (3) years after the Closing it shall maintain, a net worth of at least Eight Million ($8,000,000) Dollars.
Net Worth Requirement. The Borrower shall maintain a Net Worth of not less than THIRTY-SEVEN MILLION DOLLARS ($37,000,000.00) by the end of the 1998 fiscal year. The Tangible Net Worth must not be less than a negative ($3,000,000) at the end of the 1998 fiscal year end and a negative ($3,000,000) plus 25% of the net income at the end of the 1999 fiscal year and all subsequent years and at all times thereafter.
Net Worth Requirement. The Net Worth of the Borrower shall be --------------------- at least the amount set forth opposite each period during which the requested Loans are to be made: Period Required Net Worth ------ ------------------ Closing Date - 12/30/98 $30,000,000 12/31/98 - 12/30/99 $33,000,000 12/31/99 - 12/30/00 $36,000,000 12/31/00 and thereafter $39,000,000 Each Borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date of such Borrowing that the conditions contained in this Section 4.2 have been satisfied.
Net Worth Requirement. Consolidated Net Worth at any time to be less than the greater of (i) $250,000,000 or (ii) an amount equal to 65% of Consolidated Net Worth as of the end of the fiscal year of the Company most recently ended prior to the date of determination of compliance with this paragraph 6A(2);
Net Worth Requirement. The Guarantor shall maintain a Net Worth of not less than TWENTY-FOUR MILLION DOLLARS ($24,000,000.00) by the end of the 1998 fiscal year. The Tangible Net Worth must not be less than a negative ($11,000,000) at the end of the 1998 fiscal year end and a negative ($11,000,000) plus 25% of the net income at the end of the 1999 fiscal year and all subsequent years and at all times thereafter.
Net Worth Requirement. Maintain a total Consolidated Net Worth of not less than 90% of Consolidated Net Worth at the time of the Initial Advance, plus: (a) 70% of Borrower's Net Income (if positive) subsequent to Closing, calculated cumulatively as of the end of each fiscal quarter of Borrower beginning with the quarter ending December 31, 1996, and (b) 100% of any equity issued.
Net Worth Requirement. The Borrower Net Worth as of the end of each fiscal quarter shall be in an amount at least equal to eighty-five (85%) of the sum of (a) the Borrower Net Worth as of the date hereof and (b) the net proceeds of any Equity Offerings made after the date hereof, as confirmed by Administrative Agent based on the last four (4) completed fiscal quarters on a trailing four (4) quarter basis.
