Minimum Net Worth Amount definition
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 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 Minimum Net Worth Amount will be reduced by the amounts paid to purchase or redeem any 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 the Class B 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 Borrower will not permit the Consolidated Net Worth at any time to be less than the Applicable Minimum Net Worth Amount at such time.
The Minimum Net Worth Amount shall increase as of December 31, 1996 by an amount equal to eighty percent (80%) of Consolidated Net Income for the Fiscal Year ending December 31, 1996.
Borrower shall not permit its Consolidated Net ----------------- Worth, as of the last day of each Fiscal Quarter, to be less than the applicable "Minimum Net Worth Amount." The Minimum Net Worth Amount from the period commencing on the Closing Date and continuing through September 30, 1996 shall be Sixty-Five Million Dollars ($65,000,000).
The Borrowers and the Subsidiaries, at all times for all fiscal quarters thereafter, tested as of the end of each such fiscal quarter, shall maintain a Net Worth of not less than the sum of (i) the Minimum Net Worth Amount for the then preceding fiscal quarter, plus (ii) forty percent (40%) of the Borrowers' and the Subsidiaries' Consolidated earnings for the then current fiscal quarter.
On the Commencement Date and at such other times during the Term as set forth herein, the Net Worth Parties shall deliver to Lessor unaudited balance sheets of each of the Net Worth Parties confirming that the Minimum Net Worth Amount is being maintained.
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 $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 has the meaning set forth in the Personal Guaranty Agreement dated of even date herewith by Guarantor.
Minimum Net Worth Amount means, at any time, the sum of (x) $630,000,000 (as adjusted for purchase accounting adjustments after the Closing Date and restructuring and integration related charges, in each case related to the Acquisition, all as approved by the Agents in their reasonable discretion) plus (y) (to the extent zero or positive) (i) 50% of an amount equal to Consolidated Net Income less the aggregate amount of all cash dividends paid in respect of WLI Preferred for the period (taken as one accounting period) commencing on the first day of the fiscal quarter after which the Closing Date occurs and ending on the last day of the fiscal quarter then last ended plus (ii) 100% of the proceeds received by WLI from issuances of equity after the Closing Date and (without duplication) any other increases in Consolidated Net Worth after the Closing Date, not resulting from Consolidated Net Income.
Minimum Net Worth Amount. As at September 30, 2001 and the last day of each Fiscal Quarter thereafter, 90% of the Parent's Consolidated Net Worth plus, (A) 80% of the Parent's Consolidated net income (on a cumulative basis) for each Fiscal Quarter commencing December 31, 2001 plus, (B) 80% of the Net Cash Proceeds (on a cumulative basis) resulting from any equity issuance by Parent or any of its Subsidiaries.
Minimum Net Worth Amount means $1,978,228,000. S chedule 1.1(k) illustrates the calculation method used by the parties to determine the Minimum Net Worth Amount. S chedule 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. As defined in Section 8.8.