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 means, at any time, $1,828,257,603.
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.
Examples of Minimum TNW in a sentence
Maintain at all times a Consolidated Tangible Net Worth of not less than the Minimum TNW.
For FYs 2006 and 2007, we awarded three contracts: (1) A statistical analysis contract; (2) a documentation/database contract; and (3) a review contract.The statistical contractor (SC) collects adjudicated claims data, determines the sample size, draws the sample, and calculates the State and national error rates.
The Obligated Group shall maintain, and Borrower shall cause the Obligated Group to maintain, Tangible Net Worth as of June 30, 2007 of at least the Initial Minimum TNW Amount, and thereafter, of at least the Minimum TNW Amount.
Permit Consolidated Tangible Net Worth of any Borrower or the Guarantor at any time to be less than the Minimum TNW applicable to such Borrower or Guarantor.
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.
More Definitions of Minimum TNW
Minimum TNW as defined in Section 6.1.
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 at any time, (a) in the case of KECS (prior to any merger, consolidation or similar transaction between KCA and KECS), $116,000,000, (b) in the case of KCA (prior to any merger, consolidation or similar transaction between KCA and KECS), $594,000,000 (c) in the case of any entity resulting from and surviving a merger, consolidation or similar transaction between KCA and KECS, (x) $710,000,000 minus (y) the amount of the dividend paid (if any) by such entity upon the completion of such merger, consolidation or similar transaction (which dividend shall not exceed $75,000,000) and (d) in the case of the Guarantor, the sum of (i) $783,000,000 plus (ii) 50% of cumulative Consolidated Net Income for each fiscal quarter of the Guarantor ended after the Closing Date (beginning with the fiscal quarter ending June 30, 2012) for which Consolidated Net Income of the Guarantor is positive; provided that such sum shall be reduced by an amount (but not exceeding $100,000,000 for any fiscal year of the Guarantor and $200,000,000 in the aggregate since the Closing Date) which is equal to 75% of the sum of (x) any consideration paid for repurchases by the Guarantor of its Capital Stock since the Closing Date plus (y) any consideration (other than consideration consisting of Capital Stock of the Guarantor) attributable to acquisitions of goodwill in Permitted Acquisitions since the Closing Date. For purposes of this definition, (i) in the case of any Permitted Acquisition that includes an acquisition of goodwill and other assets for a combination of Capital Stock of the Guarantor and other types of consideration, the various assets acquired shall be ratably attributed to the various types of consideration paid and (ii) acquisitions financed with the net cash proceeds of issuances of Capital Stock by the Guarantor issued or sold to third parties shall be treated as acquisitions for consideration consisting of Capital Stock of the Guarantor and not cash.
Minimum TNW at any time, the sum of (i) $761,800,000 plus (ii) 50% of cumulative Consolidated Net Income for each fiscal quarter of the Borrower ended after the Closing Date (beginning with the fiscal quarter ending June 30, 2011) for which Consolidated Net Income is positive; provided that such sum shall be reduced by an amount (but not exceeding $100,000,000 for any fiscal year of the Borrower and $200,000,000 in the aggregate since the Closing Date) which is equal to 75% of the sum of (x) any consideration paid for repurchases by the Borrower of its Capital Stock since the Closing Date plus (y) any consideration (other than consideration consisting of Capital Stock of the Borrower) attributable to acquisitions of goodwill in Permitted Acquisitions since the Closing Date. For purposes of this definition, (i) in the case of any Permitted Acquisition that includes an acquisition of goodwill and other assets for a combination of Capital Stock of the Borrower and other types of consideration, the various assets acquired shall be ratably attributed to the various types of consideration paid and (ii) acquisitions financed with the Net Cash Proceeds of issuances of Capital Stock by the Borrower issued or sold to third parties shall be treated as acquisitions for consideration consisting of Capital Stock of the Borrower and not cash.
Minimum TNW shall equal Three Million Six Hundred Thousand Dollars ($3,600,000).
Minimum TNW means, at any time, $1,690,988,279. “Moody’s” means Xxxxx’x Investors Service, Inc., or any successor thereto. “Multiemployer Plan” means a multiemployer plan of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years has made or been obligated to make contributions, or has any liability. “Net Capital” of any Person means the net capital as shown on line 3750 of the FOCUS-II Report for such Person. “Net Cash Proceeds” means in connection with any issuance or sale of Equity Interests, the cash proceeds received from such issuance or incurrence, net of attorneys’ fees, investment banking fees, auditor fees, printer fees, SEC filing fees, brokerage fees, accountants’ fees, underwriting discounts and commissions and other customary fees and expenses actually incurred in connection therewith. “Non-Consenting Lender” has the meaning assigned to such term in Section 2.20(b). “Non-U.S. Lender” means a Lender that is not a U.S. Person. “Not Otherwise Applied” means in respect of any amount, such amount has not previously been (and is not currently being) applied to any other use or transaction. “Notes” means the collective reference to any promissory note evidencing Loans. “NSCC” means the National Securities Clearing Corporation. “NSCC Collateral Account” has the meaning assigned to such term in the definition of “Eligible NSCC Margin Deposits”.