Tangible Capital Base. The Company shall not (x) as of September 30, 2002, have a consolidated Tangible Capital Base of less than $2,612,500 or (y) as of the end of any fiscal quarter commencing with the fiscal quarter ending December 31, 2002, have a consolidated Tangible Capital Base of less than the sum of (A) $2,612,500 plus (B) on a cumulative basis, 45% of positive consolidated net income (without reduction for losses) for each fiscal quarter ending after September 30, 2002."
Tangible Capital Base. ARC and its Subsidiaries shall not (i) as of March 31, 2003, have a consolidated Tangible Capital Base of less than (1,000,000) or (ii) as of the end of any fiscal quarter commencing with the fiscal quarter ending June 30, 2003, have a consolidated Tangible Capital Base of less than the sum of (x) (1,000,000) plus (y) on a cumulative basis, 50% of positive consolidated net income (without reduction for losses) for each fiscal quarter ending after March 31, 2003.
Tangible Capital Base. The Credit Parties shall not permit the Tangible Capital Base as of (i) the end of each fiscal quarter ending during the period commencing on the Restatement Date and ending on September 30, 2008 to be less than $15,000,000, (ii) the end of each fiscal quarter ending during the period commencing on October 1, 2008 and ending on December 31, 2008 to be less than $20,000,000, and (iii) the end of each fiscal quarter thereafter, to be less than the minimum Tangible Capital Base required to be satisfied by the Core Ameresco Companies as of the last day of the fiscal year most recently ended plus 25% of the net income (without reduction for losses) of the Core Ameresco Companies (determined on a consolidated basis without duplication in accordance with GAAP) for the fiscal year most recently ended.
Tangible Capital Base. During each of the periods set forth below, permit the Tangible Capital Base to be less than the amount set forth below opposite such period at any time: Period Tangible Capital Base ------ --------------------- June 1, 1996 through and including March 29, 1997 $3,500,000 March 31, 1997 through and including December 30, 1997 $3,300,000 December 31, 1997 through and including May 30, 1998 $3,600,000 February 28, 1998 through and including May 30, 1998 $2,650,000
Tangible Capital Base. The actual Tangible Capital Base as of the end of the fiscal quarter most recently ended is: $ The Tangible Capital Base as of the end of the fiscal quarter most recently ended is required to be not less than: $
(A) Book net worth of Core Ameresco Companies on a consolidated basis: $ plus
(B) Outstanding principal amount of Subordinated Indebtedness: $
(C) Total book value of all assets of Core Ameresco Companies on a consolidated basis treated as intangible assets under GAAP: $
(D) Accounts receivable, notes receivable, other amounts due and owing from any Affiliate of a Core Ameresco Company: $ minus
(E) Renewable Energy Project Guaranty Liabilities $
Tangible Capital Base. Adjusted Tangible Net Worth of Borrower plus Subordinated Debt. Term - as defined in Section 4.1 of the Agreement. Total Credit Facility - $25,000,000.00.
Tangible Capital Base. Parent Guarantor shall maintain a Tangible Capital Base of not less than $28,000,000, such amount to be increased annually on January 31 of each year commencing January 31, 2007 by an amount equal to fifty percent (50%) of positive net income, if any, for the Fiscal Year then ended, measured quarterly.
Tangible Capital Base. The Borrower shall not permit its Tangible Capital Base to be less than (a) $13,000,000 at June 30, 1999 (the "Initial Threshold Amount"); (b) $13,250,000 at September 30, 1999; (c) $13,500,000 at December 31, 1999; (d) $13,750,000 at March 31, 2000; (e) $14,000,000 at June 30, 2000; and (f) $250,000 plus the amount of the immediately preceding Threshold Amount at the end of each subsequent fiscal quarter thereafter.
Tangible Capital Base. ADESA shall maintain its Tangible Capital Base at levels not less than those shown in the following table for the periods indicated: Period Tangible Capital Base ------ --------------------- from the date of this Agreement until fiscal year end 1995 $50,000,000 at fiscal year end 1995 and until fiscal year end 1996 $55,000,000 at fiscal year end 1996 and until fiscal year end 1997 $60,000,000 at fiscal year end 1997 and at all times thereafter $65,000,000
Tangible Capital Base. Not permit its tangible capital base to be less than $675,000 beginning with the fiscal year ending December 31, 1992 and for each fiscal year thereafter. "Tangible Capital Base" shall mean, as of any date, the sum of the Company's total equity plus debts subordinated to the Bank minus any intangible assets. All financial terms in this Agreement shall have the meanings given them under generally accepted accounting principles.
