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 Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $270,000,000 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries, plus (c) 75% of the value of any partnership interests in Borrower issued after the Closing Date for the acquisition of a Hotel Property or any interest in a Hotel Property permitted hereunder.

Minimum Tangible Net Worth shall have the meaning given such term in Section 6.15.4.

Examples of Minimum Tangible Net Worth in a sentence

In no event shall the Minimum Tangible Net Worth Covenant be decreased.
Increases in the Minimum Tangible Net Worth Covenant based on net income shall be effective on the last day of the fiscal quarter in which said net income is realized, and shall continue effective thereafter.
Increases in the Minimum Tangible Net Worth based on net income shall be effective on the last day of the fiscal quarter in which said net income is realized, and shall continue effective thereafter.
Increases in the Minimum Tangible Net Worth based on consideration received for equity securities and subordinated debt of the Borrower shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter.
Increases in the Minimum Tangible Net Worth Covenant based on consideration received for equity securities and subordinated debt of the Borrower shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter.

More Definitions of Minimum Tangible Net Worth

Minimum Tangible Net Worth means, (i) with respect to Resource America, a Tangible Net Worth (measured as of each fiscal quarter end) of $100,000,000 and (ii) with respect to LEAF Financial, a Tangible Net Worth (measured as of each fiscal quarter end) of (x) $34,170,544 plus (y) 75% of the net income from each preceding fiscal quarter (beginning with and including September 30, 2008) in which net income is positive.

Minimum Tangible Net Worth means the total book value of -------------------------- shareholder's equity less the balance of goodwill, as reported on the latest quarterly balance sheet prepared in accordance with Generally Accepted Accounting Principles (GAAP).

Minimum Tangible Net Worth means the value of total assets (on the basis of the lower of cost or market) (including leaseholds and leasehold improvements and reserves against assets but excluding goodwill, patents, trademarks, trade names, organization expense, unamortized debt discount and expense, capitalized or deferred research and development costs, deferred marketing expenses, and other like intangibles, and monies due from affiliates, officers, directors, employees, shareholders, members or managers) less total liabilities, including but not limited to accrued and deferred income taxes, but excluding the non-current portion of Subordinated Liabilities.

Minimum Tangible Net Worth. With respect to the Servicer as at the end of any fiscal quarter during each fiscal year, the sum of (i) $2,300,000,000 plus (ii) 75% of the Net Proceeds of all Equity Issuances by the Servicer or any subsidiary of the Servicer (other than Equity Issuances to the Servicer or a subsidiary of the Servicer) after the Sixth Restatement Effective Date.

Minimum Tangible Net Worth being defined for purposes of this subsection as (i) $16,000,000.00 at all times from March 31, 2002 through December 30, 2002; (ii) $17,000,000.00 at all times from December 31, 2002 through December 30, 2003; and (iii) thereafter, from the last day of each Fiscal Year of the Consolidated Group through the day prior to the last day of each immediately succeeding Fiscal Year of the Consolidated Group, the Minimum Tangible Net Worth during the immediately preceding period plus $1,000,000.00; and "Tangible Net Worth" being defined for purposes of this subsection as the Consolidated Group's shareholders' equity (including retained earnings) less the book value of all intangible assets as determined solely by Lender on a consistent basis plus the amount of any LIFO reserve plus the amount of any debt subordinated to Lender, all as determined under generally accepted accounting principles applied on a basis consistent with the financial statement dated December 31, 2001 except as set forth herein;