RESTRICTIONS RELATING TO THE GUARANTOR. If, at any time during the Term, the Tangible Net Worth of the Guarantor is less than FORTY MILLION AND NO/100 ($40,000,000.00), the Guarantor shall not, without the prior written consent of the Lessor, in each instance, which consent may be withheld in the sole and absolute discretion of the Lessor, convey, assign, donate, sell, mortgage or pledge any real or personal property or take any other action which would have a materially adverse effect upon the Tangible Net Worth or general financial condition of the Guarantor.
Appears in 3 contracts
Samples: Facility Lease Agreement (Alternative Living Services Inc), Facility Lease Agreement (Alternative Living Services Inc), Facility Lease Agreement (Alternative Living Services Inc)
RESTRICTIONS RELATING TO THE GUARANTOR. If, at any time during the Term, the Tangible Net Worth of the Guarantor is less than FORTY MILLION AND NO/100 ($40,000,000.00), the Guarantor shall not, without the prior written consent of the Lessor, in each 75 76 instance, which consent may be withheld in the sole and absolute discretion of the Lessor, convey, assign, donate, sell, mortgage or pledge any real or personal property or take any other action which would have a materially adverse effect upon the Tangible Net Worth or general financial condition of the Guarantor.
Appears in 1 contract
