Net Worth Minimum definition

Net Worth Minimum means $60,000,000.
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Net Worth Minimum means, as of any date, the sum of (i) eighty-five ----------------- percent (85%) of Consolidated Net Worth as of December 31, 1997 (after giving effect to the consummation of the Merger Transaction and after giving effect to all Merger Transaction Costs) plus (ii) on the last day of each fiscal quarter ---- to occur after the Closing Date an amount (but not less than zero) equal to 50% of the Consolidated Net Income of the Borrowers and their Restricted Subsidiaries for such fiscal quarter, such increases to be cumulative, plus ---- (iii) eighty percent (80%) of the effect (positive or negative) on Consolidated Net Worth from acquisitions permitted hereunder.
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Net Worth Minimum as of any Testing Date, the sum of (a) $96,625,000, plus (b) an aggregate amount equal to 50% of Consolidated Net Income for each fiscal quarter of the Company ended on or prior to such Testing Date and for which Consolidated Net Income shall be positive, beginning with the fiscal quarter of the Company ending September 29, 1996.
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Examples of Net Worth Minimum in a sentence

  • Certificate issued by Chartered Accountant in respect of Net Worth, Minimum Average Annual Turnover of last 3 financial years i.e FY 2017-18, 2018-19 & 2019-20 and Working Capital in prescribed format as per tender (as per Schedule-5(A)).

  • The Company will not permit Consolidated Net Worth as of any Testing Date to be less than the Net Worth Minimum as of such date.

  • It is understood that any employee other than a JC3 or JC4 who performs work in a courtroom while court is in session without a JC3 or JC4 present and where such work is other than performance of general clerical duties such as recorder operation, stenography or duties such as those primarily assigned to Court Services Representatives will be deemed to be performing out of title work.

  • If Tenant’s Net Worth ceases to be equal to or greater than the Net Worth Minimum, Tenant’s right to maintain insurance issued by XXXXX shall terminate until such time as Tenant’s Net Worth is equal to or greater than the Net Worth Minimum.

  • Permit the Tangible Net Worth of Borrower, as of thelast day of any fiscal quarter, to be less than the Net Worth Minimum.

  • The Borrowers will not permit Consolidated Net ---------------------- Worth as of any date to be less than the Net Worth Minimum as of such date.

  • Financial Covenants: Customary for facilities of this type including --------- (without limitation): restrictions on Total Debt/EBITDA; EBITDA/Interest Expense; EBITDA/Fixed Charges; Minimum Net Worth; Minimum Revenue, and Minimum EBITDA (Maximum EBITDA losses).

  • By contrast, the Agreement here set the Tangible Net Worth Minimum at $52 million, and the amount in dispute between the Buyer and the Seller, large as it is, barely exceeds 5% of the base purchase price.The Supreme Court in Chicago Bridge also focused on the existence of a liability bar in the agreement, which, upon closing, eliminated Chicago Bridge’s liability to Westinghouse for breaches of representations and warranties.

  • Turnover & Net Worth Minimum Turnover : Rs.4500 Crores or US $ 750 million.

  • The financial covenants were amended to eliminate the Consolidated Net Worth, Minimum Fixed Charge Coverage Ratio and Maximum Leverage Ratio covenants, in lieu of new one-month and two-month minimum consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) requirements and a $2.25 million capital expenditures limitation for any fiscal year.


More Definitions of Net Worth Minimum

Net Worth Minimum means, as of any date, the sum of $75,000,000 plus on the last day of each fiscal quarter to occur after the Restatement Date an amount (but not less than zero) equal to 50% of the net income of the Borrower and its Restricted Subsidiaries for such fiscal quarter, such increases to be cumulative, determined on a consolidated basis in accordance with GAAP after eliminating all inter-company items and deducting portions of income properly attributable to outside minority interests, if any, in Restricted Subsidiaries and after adding, to the extent deducted in determining such net income, the amount of any provision for the amortization of Effective Date Intangibles.
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Net Worth Minimum means (i) for each March 31, 90% of the consolidated Tangible Net Worth of the Borrowers as of the end of the prior fiscal year, (ii) for each June 30, 75% of the consolidated Tangible Net Worth of the Borrowers as of the end of the prior fiscal year, (iii) for each September 30, 75% of the consolidated Tangible Net Worth of the Borrowers as of the end of the prior fiscal year, and (iv) for each December 31, 110% of the consolidated Tangible Net Worth of the Borrowers as of the end of the prior fiscal year.
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Net Worth Minimum as defined in SECTION 6.1(B). ----------------- NOTE REGISTER: as defined in SECTION 12.1. ------------- NOTEHOLDER: a registered holder of Notes. ---------- NOTES: as defined in SECTION 1.2(A). ----- OBLIGOR: as defined in SECTION 7.2. ------- OFFERING MEMORANDUM: as defined in SECTION 8.7. ------------------- OFFICERS' CERTIFICATE: of any Person, a certificate executed on --------------------- behalf of such Person by two of its officers, one of whom shall be its Chairman of the Board of Directors (if an officer), its Chief Executive Officer, Chief Operating Officer, President, or one of its Vice Presidents, and the other of whom shall be its Treasurer, Chief Financial Officer or Controller. ORDER: any order, writ, injunction, decree, judgment, award, ----- determination, direction or demand of a court, arbitrator, administrative agency or other Governmental Body. OUTSTANDING: when used with reference to the Notes as of a particular ----------- time, all Notes theretofore issued as provided in this Agreement, except (a) - Notes theretofore reported as lost, stolen, damaged or destroyed, or surrendered for transfer, exchange or replacement, in respect of which replacement Notes have been issued, (b) Notes theretofore paid in full, and (c) Notes theretofore - - canceled by the Company or delivered to the Company for cancellation; provided, -------- however, that, for the purpose of determining whether Noteholders of the ------- requisite principal amount of the Notes have made or concurred in any amendment, waiver, consent, approval, declaration, notice or other communication under this Agreement, Notes owned by the Company or any Affiliate thereof shall not be deemed to be Outstanding.
Sample 1
Net Worth Minimum means (i) for the last day of each Fiscal Quarter 1, 90% of the consolidated Tangible Net Worth of the Borrowers as of the last day of the prior Fiscal Year, (ii) for the last day of each Fiscal Quarter 2, 75% of the consolidated Tangible Net Worth of the Borrowers as of the last day of the prior Fiscal Year, (iii) for the last day of each Fiscal Quarter 3, 75% of the consolidated Tangible Net Worth of the Borrowers as of the last day of the prior Fiscal Year, (iv) as of the last day of each Fiscal Quarter 4, 110% of the consolidated Tangible Net Worth of the Borrowers as of the last day of the prior Fiscal Year (or in the case of February 1, 2015, as of December 31, 2013).
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Net Worth Minimum means (i) prior to January 29, 2017, $27,500,000, (ii) on or after January 29, 2017 and prior to January 28, 2018, $40,000,000, and (iii) on January 28, 2018 and thereafter, $50,000,000.
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Related to Net Worth Minimum

  • Net Worth means, with respect to any Person, an amount equal to, on a consolidated basis, such Person’s stockholder equity (determined in accordance with GAAP).

  • Book Net Worth means the aggregate of the common and preferred stockholders' equity in the Borrower, determined in accordance with GAAP.

  • Economic Minimum means the lowest incremental MW output level, submitted to PJM market systems by a Market Participant, that a unit can achieve while following economic dispatch.

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • 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.

  • Adjusted Net Worth of any Guarantor shall mean at any time, the greater of (x) $0 and (y) the amount by which the fair saleable value of such Guarantor’s assets on the date of the respective payment hereunder exceeds its debts and other liabilities (including contingent liabilities, but without giving effect to any of its obligations under this Agreement or any other Loan Documents) on such date.

  • Adjusted Tangible Net Worth As of the date of determination thereof, the sum of: (i) Servicer's Tangible Net Worth; plus

  • Actual Minimum means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future pursuant to the Transaction Documents, including any Underlying Shares issuable upon exercise in full of all Warrants, without giving effect to (x) any limits on the number of shares of Common Stock that may be owned by a Holder at any one time, or (y) any additional Underlying Shares that could be issuable as a result of any future possible adjustments made under Section 9(d).

  • Target Net Working Capital Amount means $5,000,000.

  • Consolidated Net Worth means at any time the consolidated stockholders’ equity of the Borrower and its Subsidiaries calculated on a consolidated basis as of such time.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Tangible Net Worth means, as of any date, (a) Total Asset Value minus (b) the sum of (i) Consolidated Total Debt and (ii) to the extent included in the calculation of Total Asset Value, goodwill and other intangible assets (other than deferred leasing intangibles).

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Consolidated Tangible Net Worth means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, Shareholders’ Equity of the Borrower and its Subsidiaries on that date minus the Intangible Assets of the Borrower and its Subsidiaries on that date.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Target Net Working Capital means $0.

  • Total Leverage Ratio means, with respect to any Test Period, the ratio of (a) Consolidated Total Net Debt as of the last day of such Test Period to (b) Consolidated EBITDA for such Test Period.

  • Adjusted Consolidated Net Worth means, at any date, without duplication, the sum of (a) the consolidated shareholders’ equity, determined in accordance with GAAP, of the Guarantor and its Consolidated Subsidiaries, plus (b) the aggregate Hybrid Instrument Amount plus (c) the VA Adjustment Amount; provided that, in determining such Adjusted Consolidated Net Worth, there shall be excluded (i) any “Accumulated Other Comprehensive Income (Loss)” shown on the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries prepared in accordance with GAAP, (ii) the effect of any election under the fair value option in FASB ASC 825 permitting a Person to measure its financial assets or liabilities at the fair value thereof, and the related tax impact and (iii) all noncontrolling interests (as determined in accordance with Statement of Financial Accounting Standards No. 160, entitled “Noncontrolling Interests in Consolidated Financial Statements”) shown on the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries.

  • Current Ratio means the ratio of Current Assets to Current Liabilities.

  • Net Total Leverage Ratio means, on any date, the ratio of (A) (i) without duplication, the aggregate principal amount of any Consolidated Debt of the Borrower and its Subsidiaries outstanding as of the last day of the Test Period most recently ended as of such date less (ii) without duplication, the Unrestricted Cash and unrestricted Permitted Investments of the Borrower and its Subsidiaries as of the last day of such Test Period, to (B) Adjusted EBITDA for such Test Period, all determined on a consolidated basis in accordance with GAAP; provided, that the Net Total Leverage Ratio shall be determined for the relevant Test Period on a Pro Forma Basis.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Expenditure minimum means:

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the value of total assets of the Borrower and its Subsidiaries, less all liabilities and indebtedness not represented by Senior Securities, to (b) the aggregate amount of Senior Securities representing indebtedness in each case, of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders, declarations, opinions, relief or letters issued by the SEC or any other government or regulatory authority, in each case as of the Effective Date, but excluding the effects of SEC Release No. 33837/April 8, 2020)). The calculation of the Asset Coverage Ratio shall be made in accordance with any exemptive relief or order granted or issued by the SEC with respect to the Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations have become due and owing pursuant to the terms of any Permitted SBIC Guarantee to which the Borrower or any other Obligor is a party. The outstanding utilized notional amount of any Credit Default Swap where an Obligor is a protection seller, in each case, less the value of the margin posted by the Borrower or any of its Subsidiaries thereunder at such time shall be treated as a Senior Security of the Borrower for the purposes of calculating the Asset Coverage Ratio.