Tangible Net Worth Requirement definition

Tangible Net Worth Requirement means, (a) with respect to any date on or after the date hereof, but on or prior to December 31, 1998, negative $1,300,000, (b) with respect to any date on or after January 1, 1999, but on or prior to September 30, 1999, negative $1,900,000, (c) with respect to any date on or after October 1, 1999 but on or prior to March 31, 2000, negative $2,300,000, and (d) for any date on or after April 1, 2000, the Tangible Net Worth Requirement as of the last day of the preceding calendar month plus $20,000.
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Tangible Net Worth Requirement means (a) with respect to YMC and QMS combined, negative $300,000 until June 30, 1999 and for each calendar month thereafter means the Tangible Net Worth Requirement of YMC and QMS combined as of the last day of the preceding calendar month plus $8,333, and (b) with respect to CEM, means $2,500,000 until December 30, 1998 and for each calendar month thereafter means the Tangible Net Worth Requirement of CEM as of the last day of the preceding calendar month plus $50,000 per month until June 30, 1999 and thereafter $150,000 per month.
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Tangible Net Worth Requirement means the requirement that with respect to Servicer:
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Examples of Tangible Net Worth Requirement in a sentence

  • Tangible Net Worth as of the last day of each month, shall not be less than the Tangible Net Worth Requirement.

  • The Minimum Tangible Net Worth Requirement described herein shall be adjusted annually based on changes in the CPI in accordance with the methodology set forth in Section 8.1.3 of the CMA General Conditions, commencing on the first anniversary of the Initial Maintenance Term Commencement Date and continuing annually thereafter during the Maintenance Period.

  • The Adjusted Tangible Net Worth of the Consolidated Group, determined on a consolidated basis as of the last day of each Fiscal Period ending after the Closing Date, shall not be less than the Adjusted Tangible Net Worth Requirement.

  • For so long as there are any Obligations to Lender, the Borrower shall maintain at all times the Tangible Net Worth Requirement.

  • Fail to maintain, as of the end of each calendar quarter, Tangible Net Worth of at least $10 million; provided, however, that the failure of Tenant to comply with such minimum Tangible Net Worth Requirement shall not constitute an Event of Default if a Security Letter of Credit in the amount of six monthly installments of Base Rent is in effect or obtained within ten days after such failure.


More Definitions of Tangible Net Worth Requirement

Tangible Net Worth Requirement means $31,800,000.
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Tangible Net Worth Requirement means $1,000,000 until December 31, 2000, and for each calendar year thereafter means (i) if Company's Net Income for the previous calendar year is greater than or equal to zero, the Tangible Net Worth Requirement as of the last day of the preceding calendar year plus fifty percent (50%) of Company's Net Income for the previous calendar year and (ii) if Company's Net Income for the previous calendar year is negative, the Tangible Net Worth Requirement as of the last day of the preceding calendar year.
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Tangible Net Worth Requirement means the respective Tangible Net Worth Requirement set
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Tangible Net Worth Requirement means negative $6,200,000 plus the net proceeds received by the Company from any such sale of its equity securities after the date hereof.
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Tangible Net Worth Requirement means as the Tangible Net Worth of Borrowers on December 31, 2022, determined as of the first Determination Date following December 31, 2022, which Tangible Net Worth Requirement shall be increased (but not decreased) on each Determination Date thereafter by an amount equal to 25% of positive Net Income for the fiscal year immediately preceding such Determination Date, based on the audited financial statements required by Section 8.1(a) with respect to the fiscal year ending prior to such Determination Date.
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Tangible Net Worth Requirement means (a) during the period from the Closing Date through December 30, 2020, -$1,325,000, (b) during the period from December 31, 2020 through December 30, 2021, the 2021 TNW Amount, and (c) during the period beginning on December 31, 2021 and thereafter, the 2021 TNW Amount; provided, however, the Tangible Net Worth Requirement shall be increased (but not decreased) on each Determination Date by an amount equal to 50% of positive Net Income for the fiscal year immediately preceding such Determination Date, provided that the increase to the Tangible Net Worth Requirement determined on each Determination Date will be updated and adjusted as needed based on the audited financial statements required by Section 8.1(a) with respect to the fiscal year ending prior to such Determination Date.
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Tangible Net Worth Requirement means the requirement as to Tangible Net Worth for the Company as set forth in Section 6.2(j)(iii).
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