Tangible Net Worth Requirements Sample Clauses

Tangible Net Worth Requirements. Borrower shall comply with the following net worth ratio requirements:
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Tangible Net Worth Requirements. Borrower will maintain a minimum Tangible Net Worth of $566,000,000, to be adjusted upward at the end of each fiscal quarter, commencing with the fiscal quarter ending September 27, 2003, by twenty five percent (25%) of positive net income after taxes and before dividends for such quarter. Once adjusted upward, the Tangible Net Worth requirement set forth herein will not decrease downward except for the cash cost of repurchases of treasury stock at cost.
Tangible Net Worth Requirements. Maintain a minimum Tangible Net Worth of not less than: $10,500,000.00. Other Net Worth requirements are as follows:
Tangible Net Worth Requirements. Borrower shall have a minimum Tangible Net Worth of not less than $15,500,000.00 measured as of March 31, 2007, and measured on a quarterly basis thereafter, with such minimum Tangible Net Worth requirement to be increased each quarter thereafter by 50% of Net Profit After Tax of the preceding quarter, provided that if Borrower’s Net Profit After Tax is negative (i.e., a loss), the then current minimum Tangible Net Worth will not be decreased. For the purposes of this covenant, and for all other purposes of this Agreement, Net Profit After Tax will the amount, determined on a consolidated basis, reported as after tax Net Income at the end of each fiscal quarter on Borrower’s financial statements.
Tangible Net Worth Requirements. Maximum Debt to Tangible Net Worth. Maintain a ratio of Maximum Debt to Tangible Net Worth not in excess of 3.000 to 1.000. This leverage ratio will be evaluated as of quarter-end. Maintain Minimum Tangible Net Worth of not less than $800,000.00. This ratio will be evaluated as of quarter-end. Tangible Net Worth is defined as book net worth less intangible assets and all shareholder Accounts Receivables and loans, and all Accounts Receivables and loans due from affiliates and officers per GAAP.
Tangible Net Worth Requirements. Borrower shall comply with the following net worth ratio requirements: Debt / Worth Ratio. Maintain a ratio of Debt / Worth not in excess of 2.250 to 1.000. The ratio "Debt / Worth" means Borrower's Total Liabilities divided by Borrower's Tangible Net Worth. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Tangible Net Worth Requirements. Borrower’s affirmative financial covenant contained in the Loan Agreement requiring Borrower to “maintain a net worth greater than 9X the outstanding loan balance of the subject revolving line of credit”, is hereby amended by substituting “three (3) times” in the place of “9X”.
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Tangible Net Worth Requirements. Other Net Worth requirements are as follows: Total Liabilities to Tangible Net Worth. Customer’s “Leverage Ratio” shall not at any time exceed 1.0 to 1.
Tangible Net Worth Requirements. Maintain a minimum Tangible Net Worth of not less than: $17,000,000.00. In addition, Borrower shall comply with the following net worth ratio requirements: Debt / Worth Ratio. Maintain a ratio of Debt / Worth not in excess of 0.500 to 1.000. The ratio "Debt / Worth" means Borrower's Total Liabilities divided by Borrower's Tangible Net Worth. This leverage ratio should be maintained at all times and may be evaluated at any time. Other Requirements. Xxxxxx Bank, National Association has the option to require a Borrowing Base Certificate at the banks discretion Borrower to maintain all depository accounts with Xxxxxx Bank, National Association Tangible Net Worth. In addition any due from related parties or affiliates other than wholly owned subsidiaries of the borrower will be considered Intangible Assets under the definition of Tangible Net Worth per this Agreement.
Tangible Net Worth Requirements. Other Net Worth Requirements are as follows: Ratios must be maintained or Company will not pay dividend. In addition, Borrower shall comply with the following net worth ratio requirements: Debt/Worth Ratio. Maintain a long term debt/consolidated net worth (in accordance with Generally Accepted Accounting Principles (GAAP) as currently in effect) of not more than 1:1.
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