Required Net Worth definition

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

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

• Bidder is a business entity whose equity owners are entities or individuals that in combination have a net worth in excess of the Required Net Worth.

• The Bidder is a business entity whose equity owners are entities or individuals that have, or will have by the closing of the purchase of the NPLs, committed funds to the Bidder which funds, in the aggregate, will allow the Bidder to have a net worth in excess of the Required Net Worth.

• The Bidder is a corporation, partnership, limited liability company, or business trust with a net worth in excess of the Required Net Worth set forth below, determined in accordance with Generally Accepted Accounting Principles, consistently applied (“GAAP”), and was not formed for the specific purpose of acquiring an interest in the NPLs. SAMPLEThe “Required Net Worth” is:• For a Bidder on an EXPO: $5,000,000• For Bidders on an SPO, and if bidding on both an SPO and an EXPO: $10,000,000 ( ) 2.

• Bidder is a trust, with a net worth in excess of the Required Net Worth determined inaccordance with GAAP, not formed for the specific purpose of acquiring the Mortgage Loans.

• Liquid Asset Calculation: Required Net Worth CalculationAcceptable Liquid Assets -$ 2,500,000 Cash and Cash Equivalents$ 6,116,500Certificate of Deposit - 5/4/19 100,464 Total Liquid Assets$ 6,216,964 B.

More Definitions of Required Net Worth

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 means:

Required Net Worth shall initially be two hundred sixty-eight million dollars ($268,000,000) , and shall increase as of December 31 of each year, commencing December 31, 1999, 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 shall have the meaning set forth in Section 6.11.

Required Net Worth. As of any date (i) prior to July ------------------ 8, 2002, $0 and (ii) on or after July 8, 2002,$75,000,000.

Required Net Worth means the amount expressed in terms of dollars by which the net book value of the Assets must exceed the amount of Assumed Liabilities, as reflected on the Closing Balance Sheet, pursuant to Florida Statutes 409.912(14) and 641.225 as currently in effect, subject only to a guarantee by the Company and the insolvency insurance, which is currently in force.