Common use of Owners Equity Clause in Contracts

Owners Equity. The Borrower will, at all times, have a Owners Equity of not less than the Minimum Required Amount. For purposes hereof, the "Minimum Required Amount" shall mean $90,000,000 and shall increase as of July 1, 1996 and as of the first day of each fiscal quarter of the Borrower ending thereafter by an amount equal to 10% of positive Net Income from and after April 1, 1996.

Owners Equity. The Borrower will, at all times, have a Owners Equity of not less than the Minimum Required Amount. For purposes hereof, the "Minimum Required Amount" shall mean $90,000,000 160,000,000 and shall increase as of July January 1, 1996 2000 and as of the first day of each fiscal quarter of the Borrower ending thereafter by an amount equal to 10% of positive Net Income from and after April October 1, 19961999.