Minimum Net Worth Amount initially means $1.6 billion. The Minimum Net Worth Amount will be increased by the proceeds paid to the Corporation in consideration for the issuance and sale of additional Class B Shares or Class C Shares or any of its preferred stock ranking pari passu with or senior to the Class B Shares or Class C Shares with respect to the payment of dividends or amounts payable upon liquidation. The Minimum Net Worth Amount will be reduced by the amounts paid to purchase or redeem any Class B Shares or Class C Shares or any of its preferred stock ranking pari passu with or senior to the Class B Shares or the Class C Shares, but only by an amount equal to the liquidation preference of such shares. The net worth of the Corporation will be determined in accordance with US GAAP.
Minimum Net Worth Amount means $50,000,000.
Minimum Net Worth Amount means $750,000,000 as of the date of this Lease which amount shall be subject to annual CPI increases on each annual anniversary of the date of this Lease, and (B) “CPI” shall mean the Consumer Price Index-All Urban Consumers-San Diego, All Items” compiled by the U.S. Department of Labor, Bureau of Labor Statistics, (1982-84 = 100) or, if a substantial change is made to such index or it is ceases to be published, the parties shall select a reasonably acceptable substitute. Notwithstanding anything to the contrary contained herein, a grant by Tenant of a license or sublease (i) with respect to individual offices within the Premises on an undemised basis to affiliates of Tenant (“Tenant Affiliate”) or, (ii) with respect to up to 10% of the Premises to clients or others having a business relationship with Tenant (each, a “Relationship Party”), shall not constitute an assignment or subletting requiring Landlord consent under this Section 22; provided that any such Tenant Affiliate or Relationship Party that is subject to a sublease (as opposed to a license) with Tenant shall execute and comply with the terms of Landlord’s form of consent to sublease subject to those changes proposed by Tenant which are acceptable to Landlord, in Landlord’s reasonable discretion. Notwithstanding anything to the contrary contained herein, Tenant shall be fully responsible for the acts of the parties entering the Premises pursuant to the immediately preceding sentence and Landlord shall have no liability to or in connection with such parties.
Examples of Minimum Net Worth Amount in a sentence
The Minimum Net Worth Amount will be reduced by the amounts paid to purchase or redeem any Class B Shares or Class C Shares or any of its preferred stock ranking pari passu with or senior to the Class B Shares or the Class C Shares, but only by an amount equal to the liquidation preference of such shares.
The Minimum Net Worth Amount will be increased by the proceeds paid to the Corporation in consideration for the issuance and sale of additional Class B Shares or Class C Shares or any of its preferred stock ranking pari passu with or senior to the Class B Shares or Class C Shares with respect to the payment of dividends or amounts payable upon liquidation.
In addition, the Corporation will not purchase or redeem any Junior Shares if such purchase or redemption would cause the net worth of the Corporation (determined in accordance with US GAAP), as of the last day of the most recently ended fiscal quarter and after giving affect to such purchase or redemption, to be less than the Minimum Net Worth Amount.
The Minimum Net Worth Amount will be increased by the proceeds paid to the Corporation in consideration for the issuance and sale of additional Class C Shares or Class B Shares or any of its preferred stock ranking pari passu with or senior to the Class C Shares or Class B Shares with respect to the payment of dividends or amounts payable upon liquidation.
The Borrower will not permit the Consolidated Net Worth at any time to be less than the Applicable Minimum Net Worth Amount at such time.
More Definitions of Minimum Net Worth Amount
Minimum Net Worth Amount means (i) during the period commencing on June 30, 1998 and ending September 29, 1998, an amount equal to Twenty-Four Million Dollars ($24,000,000) and (ii) at any time thereafter the sum of (A) Twenty-Four Million Dollars ($24,000,000), plus (B) fifty percent (50%) of net income of Borrower, determined in accordance with GAAP on a consolidated basis, for each calendar quarter period that has ended on or after September 30, 1998; provided, that any net loss of Borrower, determined in accordance with GAAP on a consolidated basis, for any calendar quarter period shall not be taken into account in the foregoing calculation.
Minimum Net Worth Amount means $1,978,228,000. Schedule 1.1(k) illustrates the calculation method used by the parties to determine the Minimum Net Worth Amount. Schedule 1.1(k) is based on the Performance Balance Sheets, adjusted (i) to reflect good faith estimates of changes necessary to reconcile to GAAP, (ii) to exclude goodwill and intangibles and (iii) to take into account the transactions contemplated by this Agreement.
Minimum Net Worth Amount means $35,000,000. In addition to the reporting requirements in Section 10 above, with regard to monitoring Guarantor's "Minimum Net Worth Amount", Creditor may, based on reasonably exercised discretion, require Guarantor to provide a signed, independent report prepared by a licensed certified public accountant verifying the reasonableness of the methods used to calculate the values reflected in the Fiscal Quarter personal financial statements along with copies of supporting documents (bank statements, property tax records, lease agreements, etc.) used in the calculation of the values reflected in such financial statements. The signed, independent report is due to Creditor within 30 days after request.
Minimum Net Worth Amount means the minimum Consolidated Tangible Net Worth of Sponsor permitted hereunder, which shall be equal to (I) the sum of (a) $898,400,000, plus (b) an amount equal to 75 percent of the aggregate proceeds received by Sponsor in connection with any offering or issuance of Capital Stock of Sponsor after the November 27, 2002, plus (c) 80 percent of the consolidated retained earnings of Sponsor accrued after the November 27, 2002 (which accrued consolidated retained earnings shall be computed on a cumulative basis without deduction for any losses), except that (II) if the Credit Agreement is revised to provided for a minimum Consolidated Tangible Net Worth for Sponsor which is greater or less than the amount set forth in clause (I) above, the Minimum Net Worth Amount shall, subject to the proviso at the end of this sentence, be the minimum Consolidated Tangible Net Worth for Sponsor set forth in the Credit Agreement; provided, however, that in no event shall the Minimum Net Worth Amount under this Agreement decrease to an amount which is less than 75% of the amount set forth in clause (I) above, or increase to an amount more than 125% of the amount set forth in clause (I) above. Revisions to the Credit Agreement shall not be effective for purposes of the foregoing definition unless the revisions are made pursuant to a binding written amendment to the Credit Agreement executed and delivered by all required parties, and Buyer has received a certified copy of such amendment from Sponsor. Seller agrees to cause Sponsor to promptly provide any such amendments to the Credit Agreement to Buyer after execution and delivery of the same by the parties thereto.
Minimum Net Worth Amount means an amount equal to $24,950,000, provided however, that if the Servicer becomes subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, such amount shall be reset to ninety percent (90%) of the Tangible Net Worth of the Reported Companies as of the close of the month in which such event occurs.
Minimum Net Worth Amount. See Section 10.1.
Minimum Net Worth Amount means (a) for determinations of the net worth covenant made at the end of the first three fiscal quarters of each fiscal year, the sum of the Base Net Worth Amount plus the amount which is seventy-five percent (75%) of the consolidated net income of Borrower and its subsidiaries, commencing at the end of the previous fiscal year and ending with such fiscal quarter, and (b) for determinations of the net worth covenant made at the fiscal year end, the greater of: