Minimum TNW means, at any time, $1,200,000,000; provided that such amount shall be (a) reduced on a dollar-for-dollar basis by an amount equal to any dividend or other distribution paid by the Borrower on, or any repurchase or redemption by the Borrower of, any Equity Interests of the Borrower since the Effective Date (each, an “Equity Payment”) and (b) increased on a dollar-for-dollar basis by (i) an amount equal to 50% of Consolidated net income of the Borrower for each fiscal quarter of the Borrower ended after the Effective Date for which such Consolidated net income is positive and (ii) an amount equal to the proceeds received on account of equity contributions to the Borrower or issuances by the Borrower of its Equity Interests (each, an “Equity Contribution”); provided, further, that the Minimum TNW shall in no event be less than $800,000,000. Notwithstanding the foregoing, the Borrower may make an election that any Equity Contribution shall not increase Minimum TNW but, if it makes such an election, all subsequent Equity Payments shall not reduce Minimum TNW until the amount of such subsequent Equity Payments equal the amount of such Equity Contribution.
Minimum TNW. As of any date of determination, a Tangible Net Worth of not less than fifty percent (50%) of the Opening Balance Sheet TNW.
Minimum TNW as defined in Section 6.1.
Examples of Minimum TNW in a sentence
As the non-movant, Ms. Faison is entitled to have the inferences drawn in her favor.
The "Minimum TNW" shall equal Two Hundred and Seven Thousand, Seven Hundred and Twenty-Two Dollars ($207,722).
In the event that an amount (the "Valuation Amount") (i) previously accounted for as mineral properties is accounted for as goodwill as a result of any third party valuation, the Minimum TNW shall be reduced by 70% of the Valuation Amount; and (ii) previously accounted for as goodwill is accounted for as mineral properties as a result of any third party valuation, the Minimum TNW shall be increased by 70% of the Valuation Amount.
The Company shall not permit at any time Tangible Net Worth to be less than U.S.$2,300,000,000 (the "Minimum TNW") as adjusted in accordance with this section.
Consortium of Category A PRAs – Minimum TNW of INR 250 Crore to be calculated as weighted average of individual member’s TNW as per their proposed equity participation in the consortium b.
More Definitions of Minimum TNW
Minimum TNW means, at any time, $2,072,015,494.41.
Minimum TNW means, at any time, $1,828,257,603.
Minimum TNW shall equal One Million Two Hundred Fifty Thousand Dollars ($1,250,000).
Minimum TNW means, at any time, $1,918,806,097.
Minimum TNW means, at any time, $2,369,473,733; provided that such amount shall be (a) reduced on a dollar-for-dollar basis by an amount equal to any dividend or other distribution paid by the Borrower on, or any repurchase or redemption by the Borrower of, any Equity Interests of the Borrower since the Effective Date (each, an “ Equity Payment ”) and (b) increased on a dollar-for-dollar basis by (i) an amount equal to 50% of Consolidated net income of the Borrower for each fiscal quarter of the Borrower ended after the Effective Date for which such Consolidated net income is positive and (ii) an amount equal to the proceeds received on account of equity contributions to the Borrower or issuances by the Borrower of its Equity Interests (each, an “ Equity Contribution ”); provided, further, that the Minimum TNW shall in no event be less than $1,109,824,386. Notwithstanding the foregoing, the Borrower may make an election that any Equity Contribution shall not increase Minimum TNW but, if the Borrower makes such an election, all subsequent Equity Payments shall not reduce Minimum TNW until the amount of such subsequent Equity Payments equal the amount of such Equity Contribution.
Minimum TNW shall equal Five Million Nine Hundred Thirty-Six Thousand, Three Hundred Forty-Six Dollars ($5,936,346).
Minimum TNW means, at any time, $1,375,000,000; provided that such amount shall be (a) increased by 7.5% of the Aggregate SEA Rule 15c3-3 Reserve Formula debit items, as defined in the SEC Net Capital Rule, as set forth in the final Scottrade, Inc. FOCUS-II Report filed prior to the clearing conversion of the Scottrade client accounts to the Borrower (such amount, the “Step-Up Amount”) (which FOCUS-II Report shall be provided by the Borrower to the Administrative Agent promptly following the clearing conversion of the Scottrade client accounts to the Borrower along with the calculation of the Step-Up Amount), (b) reduced on a dollar-for-dollar basis by an amount equal to any dividend or other distribution paid by the Borrower on, or any repurchase or redemption by the Borrower of, any Equity Interests of the Borrower since the Effective Date (each, an “Equity Payment”) and (c) increased on a dollar-for-dollar basis by (i) an amount equal to 50% of Consolidated net income of the Borrower for each fiscal quarter of the Borrower ended after the Effective Date for which such Consolidated net income is positive and (ii) an amount equal to the proceeds received on account of equity contributions to the Borrower or issuances by the Borrower of its Equity Interests (each, an “Equity Contribution”); provided, further, that the Minimum TNW shall in no event be less than (i) prior to the clearing conversion of the Scottrade client accounts to the Borrower, $917,000,000 and (ii) on or after the clearing conversion of the Scottrade client accounts to the Borrower, $917,000,000 plus 66.67% of the Step-Up Amount. Notwithstanding the foregoing, the Borrower may make an election that any Equity Contribution shall not increase Minimum TNW but, if the Borrower makes such an election, all subsequent Equity Payments shall not reduce Minimum TNW until the amount of such subsequent Equity Payments equal the amount of such Equity Contribution.