Required Net Worth definition

Required Net Worth shall have the meaning as set forth in the Guaranty.

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Required Net Worth means Tangible Net Worth tested on a date which is forty-five (45) days after the end of each Calendar Half equal to Five Hundred Million Dollars ($500,000,000).

Required Net Worth means, at any date, an amount equal to (a) an ------------------ amount equal to the sum of (i) 80% of the Net Worth as at the Closing Date based upon the pro forma balance sheet of the Company delivered pursuant to Section 7.01(j) of the Multi-Year Revolver, plus (ii) 50% --------------- ---- of quarterly net income (with no deduction for net losses) for the fiscal quarter of the Company ending after the Closing Date and each fiscal quarter of the Company thereafter plus (iii) 100% of the net ---- proceeds to the Company of new capital stock or other equity interests issued by the Company or any Restricted Subsidiary after the Closing Date less (b) the Timber Adjustment Amount. ----

Examples of Required Net Worth in a sentence

Guarantor hereby covenants and agrees that at all times, the Tangible Net Worth (as hereinafter defined) of Guarantor shall not be less than the Required Net Worth (as hereinafter defined) and the Liquidity of Guarantor shall not be less than the Required Liquidity (as hereinafter defined), in each case on a consolidated basis in accordance with GAAP.
If the Aggregate Net Worth Amount is less than the Aggregate Required Net Worth Amount, then the Merger Consideration shall automatically be reduced by the amount of such shortfall; provided that the amount of such reduction shall in no event exceed $1,447,000.
The Transferor shall not pay any dividends to CompuCom if such payment would be prohibited under the General Corporation Law of the State of Delaware, would result in an Early Amortization Event or would cause the Transferor's tangible net worth to be less than the Required Net Worth.
The Company shall not permit the Adjusted Net Worth, measured as of the end of each fiscal quarter of the Company, to be less than the Required Net Worth measured as of the end of such fiscal quarter.
In no event shall the failure of the Company’s Consolidated Net Worth to equal or exceed the Minimum Required Net Worth at the end of the fiscal quarter be counted toward the making of more than one Purchase Offer.

More Definitions of Required Net Worth

Required Net Worth means:

Required Net Worth means the Net Worth of the Borrower in an amount not less than (a) as of the Effective Date, $1,170,000,000, and

Required Net Worth means total assets (excluding goodwill) less total liabilities of not less than $10 million.

Required Net Worth shall initially be two hundred thirty-five million dollars ($235,000,000) and shall increase as of December 31 of each year, commencing December 31, 1997, by an amount equal to twenty-five percent (25%) of the consolidated net income (if any) of the Borrower and its subsidiaries for the fiscal year ending on such December 31."

Required Net Worth means, on any day after the Closing Date, the sum of (i) $325 million and (ii) an amount equal to 50% of the Net Income each calendar year beginning after December 31, 2009.

Required Net Worth means $20,000,000. ------------------

Required Net Worth. $__________ (Total of (1), (2) (3), less (4))