TNW Base Amount definition

TNW Base Amount means, as of any date of determination, the amount set forth below corresponding to the time period set forth below:

TNW Base Amount means, as of any date of determination:

TNW Base Amount means, as of any date of determination: (i) $16,000,000 for the tested month of March 2008; (b) $12,000,000 for each of the tested months of April 2008, May 2008, and June 2008, and (c) $8,000,000 for any tested month thereafter. Increases in the Required TNW Amount based on consideration received for equity securities and Subordinated Debt of the Borrower shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter. Increases in the Required TNW Amount based on Net Income shall be effective on the last day of the fiscal quarter in which such Net Income is realized, and shall continue effective thereafter. In no event (except for step-downs in the TNW Base Amount as expressly set forth in the definition thereof) shall the Required TNW Amount be decreased from one fiscal period to another subsequent fiscal period.

Examples of TNW Base Amount in a sentence

• Dated: Tangible Net Worth [Section 6.9(a)] Required: $ , which equals the sum of (a) the TNW Base Amount, plus (b) 35% of all consideration received after the Effective Date for issuances of the Borrower’s equity securities and the principal amount of Subordinated Debt of the Borrower, plus (c) 35% of the Borrower’s positive net income (determined in accordance with GAAP) in the fiscal quarter ending March 31, 2008 and each fiscal quarter thereafter.

• A Tangible Net Worth of at least the sum of the following (the “Required TNW Amount”): (a) the TNW Base Amount (as defined below), plus (b) 25% of all consideration received after January 1, 2009 for issuances of Endocare’s equity securities and the principal amount of Subordinated Debt of the Borrower, plus (c) 25% of the Endocare’s positive consolidated Net Income in each fiscal quarter ending after January 1, 2009.

• A Tangible Net Worth of at least the sum of the following (the “Required TNW Amount”): (a) the TNW Base Amount (as defined below), plus (b) 25% of all consideration received after January 31, 2006 for issuances of Endocare’s equity securities and the principal amount of Subordinated Debt of the Borrower, plus (c) 25% of the Endocare’s positive consolidated Net Income in each fiscal quarter ending after January 31, 2006.

• Net Worth: Borrower shall maintain a Tangible Net Worth of not less than the following (unless reset as provided for below): For each month ending after on or after June 30, 2005 through the month ending August 31, 2005: the TNW Base Amount (as defined below) plus 50% of the Borrower’s net income in each fiscal quarter ending on or after June 30, 2005.

• A Tangible Net Worth of at least the sum of the following (the “Required TNW Amount”): (a) the TNW Base Amount (as defined below), plus (b) 25% of all consideration received after September 30, 2006 for issuances of Endocare’s equity securities and the principal amount of Subordinated Debt of the Borrower, plus (c) 25% of the Endocare’s positive consolidated Net Income in each fiscal quarter ending after September 30, 2006.

More Definitions of TNW Base Amount

TNW Base Amount means, as of any date of determination, the amount set forth below corresponding to the time period set forth below: (A) For each of the months ending January 31, 2005, April 30, 2005, July 31, 2005 and October 31, 2005: $500,000; (B) For each of the months ending February 28, 2005, May 31, 2005, August 31, 2005 and November 30, 2005: $1.00; and (C) For each of the months ending March 31, 2005, June 30, 2005, September 30, 2005 and December 31, 2005: $1,000,000;

TNW Base Amount means, as of any date of determination: (a) $2,000,000 at all times during the period commencing on the Effective Date and ending on December 31, 2005; and (b) $1,000,000 at all times from and after January 1, 2006. Increases in the Required TNW Amount based on consideration received for equity securities and Subordinated Debt of the Borrower shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter. Increases in the Required TNW Amount based on Net Income shall be effective on the last day of the fiscal quarter in which such Net Income is realized, and shall continue effective thereafter. In no event (except for step-downs in the TNW Base Amount as expressly set forth in the definition thereof) shall the Required TNW Amount be decreased from one fiscal period to another subsequent fiscal period.

TNW Base Amount means, as of any date of determination, <$1,250,000>.

TNW Base Amount means, as of any date of determination: (a) $27,300,000 for each of November 2004 and December 2004; (b) $23,000,000 for each of January 2005, February 2005, and March 2005; (c) $19,000,000 for each of April 2005, May 2005, and June 2005; and (d) $19,000,000 for each month thereafter; unless on or before July 31, 2005, the Minimum Tangible Net Worth Covenant shall be reset for July 2005 and each month thereafter based on Borrower’s projected financial statements for such period, such projected financial statements to have been approved by the Borrower’s Board of Directors and accepted jointly by Borrower and by Silicon in their respective discretion, which projected financial statements Borrower hereby covenants and agrees to deliver to Silicon no later than June 30, 2005.”

TNW Base Amount means the TNW Amount as of the last day of the calendar quarter immediately preceding the date of determination. The initial TNW Base Amount shall mean $24,000,000.

TNW Base Amount means, as of any date of determination, the amount set forth below corresponding to the time period set forth below [note, amounts in pointed brackets (<$>) are negative amounts]:

TNW Base Amount means, as of any date of determination: (a) $7,500,000 during the period prior to October 1, 2004; (b) $7,000,000 during the period commencing on October 1, 2004 and ending on December 31, 2004; and (c) $6,500,000 at all times from and after January 1, 2005. Increases in the Required TNW Amount based on such consideration received for the issuance and sale of such equity securities and subordinated debt shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter. In no event shall the Required TNW Amount be decreased (except as a result of step-downs in the TNW Base Amount as set forth in the definition thereof).