Minimum Book Net Worth definition

Minimum Book Net Worth. Company shall maintain its Book Net Worth during each period set forth below in an amount not less than the amount set forth below:
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Examples of Minimum Book Net Worth in a sentence

  • Section 6.15 of the Credit Agreement is ------------------------- amended in its entirety to read as follows: Minimum Book Net Worth.

  • The Borrower is in default under Section 6.13 Minimum Book Net Worth as of September 30, 2002 and through January 31, 2003 (the "Existing Defaults").

  • Moreover, Borrower is also in violation of the Minimum Book Net Worth covenant as set forth in Sections 6.13 of the Credit Agreement, which states that Borrower will cause Microtel and its subsidiaries ("MICROTEL") to maintain a Book Net Worth, on a consolidated basis, of not less than Five Million Six Hundred Eighty Thousand Dollars ($5,860,000) for the fiscal year ending December 31, 2002.

  • The Borrower is in default under Section 6.12 Minimum Net Income and Section 6.13 Minimum Book Net Worth as of March 31, 2003 and through August 31, 2003 (the “Existing Defaults”).

  • Section 6.15 of the Credit Agreement ------------------------- is amended in its entirety to read as follows: Minimum Book Net Worth.

  • If amended or restated financial statements change the previously calculated applicable Minimum Book Net Worth, Lender may reduce or increase the applicable Minimum Book Net Worth from the date of receipt of such amended or restated financial statements, to the beginning of the then current fiscal year or to the beginning of the fiscal month of the then current year, as Lender in its sole discretion deems appropriate.

  • If the Borrower's Book Net Worth as reported on the final audited financial statements for September 30, 1996 shall differ by $50,000 or more from $10, 455,000 as reported by Borrower to Lender, the Lender shall have the right to amend the Minimum Book Net Worth amounts shown above.

Related to Minimum Book Net Worth

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Book Net Worth means the aggregate of the common and preferred stockholders' equity in the Borrower, determined in accordance with GAAP.

  • Minimum Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $1,418,939,250 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after September 30, 2013 in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries; provided however, that any such net proceeds used solely for the purpose of redeeming the Parent’s preferred stock shall not be included in such sum.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at ▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.