Consolidated Adjusted Tangible Net Worth. The Company will not at any time permit Consolidated Adjusted Tangible Net Worth, determined as of the end of the fiscal quarter of the Company then most recently ended, to be less than the sum of
Consolidated Adjusted Tangible Net Worth. Consolidated Adjusted Tangible Net Worth of UDRT will not at any time be less than the sum of (i) $1,500,000,000 plus (ii) 90% of the net proceeds (after customary underwriting discounts and commissions and reasonable offering expenses) from Equity Transactions occurring after December 31, 1999.
Consolidated Adjusted Tangible Net Worth. Section 15.05 of the Master Agreement is hereby deleted in its entirety and replaced with the following:
Consolidated Adjusted Tangible Net Worth. Consolidated Adjusted Tangible Net Worth will not at any time be less than $1,200,000,000.”
Consolidated Adjusted Tangible Net Worth. At any date, the aggregate of (i) consolidated shareholders’ equity and (ii) without duplication, an amount equal to 50% of any deferred federal income taxes as reflected on a consolidated balance sheet of Ryder and its Consolidated Subsidiaries prepared in accordance with GAAP, less the sum of:
Consolidated Adjusted Tangible Net Worth. Consolidated Adjusted Tangible Net Worth will not at any time be less than the sum of (i) $950,000,000 plus (ii) 100% of the net proceeds (after customary underwriting discounts and commissions and reasonable offering expenses) from Equity Transactions occurring after March 31, 1997.
Consolidated Adjusted Tangible Net Worth. The Consolidated Adjusted Tangible Net Worth of the Loan Parties shall be not less than the amount shown below as of the date and for the period set forth below: Consolidated Adjusted Date or Period Tangible Net Worth Fiscal year ended December 31, 1995 $ 3,750,000 Fiscal quarter ended March 31, 1996 $ 100,000 Fiscal quarter ended June 30, 1996 $ 5,100,000 Fiscal quarter ended September 30, 1996 $ 8,650,000 Fiscal year ended December 31, 1996 $10,500,000 Fiscal quarter ended March 31, 1997 $ 7,100,000 Fiscal quarter ended June 30, 1997 $12,600,000 Fiscal quarter ended September 30, 1997 $16,500,000 Fiscal year ended December 31, 1997 $18,100,000 and at all times thereafter
Consolidated Adjusted Tangible Net Worth. The Company will at all ----------------------------------------------------- times keep and maintain a Consolidated Adjusted Tangible Net Worth at an amount not less than the Benchmark Amount for the fiscal quarter of the Company beginning September 28, 1997, and for each fiscal quarter thereafter, the greater of (i) the Benchmark Amount and (ii) the sum of (x) the amount required to be maintained during the immediately preceding fiscal quarter of the Company, (y) an amount equal to 75% of Consolidated Net Income for such preceding fiscal quarter, and (z) the amount by which the aggregate net cash proceeds to the Company from the issue or sale of shares of capital stock of the Company or warrants, rights or options to purchase or acquire any shares of its capital stock after September 27, 1997 exceeds $5,000,000. "Benchmark Amount" means an amount equal to 90% of the Consolidated Adjusted Tangible Net Worth of the businesses to comprise the Company, determined as at September 27, 1997, as if the Spin-off had occurred on that date.
Consolidated Adjusted Tangible Net Worth. The Consolidated Adjusted Tangible Net Worth of the Loan Parties shall not be less than the amount shown below as of the date and for the period set forth below: Consolidated Adjusted Date or Period Tangible Net Worth Fiscal quarter ended March 31, $30,000,000 1997 Fiscal quarter ended June 30, 1997 $34,250,000 Fiscal quarter ended September $38,000,000 30, 1997 Fiscal year ended December 31, $39,000,000 1997 Fiscal quarter ended March 31, $36,500,000 1998 Fiscal quarter ended June 30, 1998 $42,750,000 Fiscal quarter ended September $48,750,000 30, 1998 Fiscal year ended December 31, $53,250,000 1998 Fiscal quarter ended March 31, $51,000,000 1999 Fiscal quarter ended June 30, 1999 $56,500,000 Consolidated Adjusted Date or Period Tangible Net Worth Fiscal quarter ended September $63,000,000 30, 1999 Fiscal year ended December 31, $65,000,000 1999 and end of each fiscal quarter of each fiscal year thereafter Provided, however, that the minimum amount of Consolidated Adjusted Tangible Net Worth required to be maintained by the Loan Parties as set forth above shall be reduced to the extent that any of the proceeds of the Subordinated Debt Offering are used contemporaneously from the issuance thereof for the redemption of any Securities of the Parent which are excluded from the definition of a Distribution and therefore permitted to be made by the Loan Parties pursuant to Section 8.2.5 of this Agreement.
Consolidated Adjusted Tangible Net Worth. Borrower and Guarantors shall maintain at all times within each of the following periods, a Consolidated Adjustable Tangible Net Worth (as defined in the Senior Loan Agreement) of not less than the amount shown below for the period corresponding thereto: Period Amount ------ ------ June 30, 1996 through and ($1,200,000) including September 29, 1996 September 30, 1996 through and ($300,000) including December 30, 1996 December 31, 1996 through and $0 including March 30, 1997 March 31, 1997 through and $100,000 including June 29, 1997 June 30, 1997 through and $1,100,000 including September 29, 1997 September 30, 1997 through and $2,000,000 including December 30, 1997 December 31, 1997 through and $2,300,000 including March 30, 1998 March 31, 1998 through and $2,400,000 including June 29, 1998 June 30, 1998 through and $3,400,000 including September 29, 1998 September 30, 1998 through and $4,300,000 including December 30, 1998 December 31, 1998 through and $4,600,000 including March 30, 1999 March 31, 1999 through and $4,700,000 including each fiscal quarter thereafter
