Consolidated Net Worth. The Borrower will not permit the Consolidated Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of (a) 80% of Consolidated Net Worth as of December 31, 2003, (b) an amount equal to 50% of the Consolidated Net Income (with no deduction for any net loss in any such fiscal quarter) earned in each fiscal quarter ending after December 31, 2003, plus (c) an amount equal to 100% of the aggregate increases in shareholders' equity of the Companies after the Closing Date by reason of the issuance and sale of capital stock of the Borrower for cash consideration (including upon any conversion of debt securities of the Borrower into such capital stock).
Consolidated Net Worth. The Company will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) $45,000,000, plus (b) an aggregate amount equal to 30% of its Consolidated Net Income (but, in each case, only if a positive number) for each completed fiscal quarter subsequent to December 3, 1995.
Consolidated Net Worth. The Borrower shall maintain a Consolidated Net Worth as of the end of each fiscal quarter in an amount at least equal to $480,000,000 minus the amount of Capital Stock of the Borrower repurchased by the Borrower subsequent to the Closing Date in accordance with Section 6.16, plus (on a cumulative basis as of the end of each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 2002) an amount equal to (i) the Net Proceeds of all Equity Issuances issued by the Borrower after the Closing Date plus (ii) seventy-five percent (75%) of the amount of net income for the fiscal quarter then ended, without adjustment for net losses.
Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than the sum of $160,500,000, increased on a cumulative basis as of the end of each fiscal quarter of Borrower, commencing with the fiscal quarter ending December 31, 2006 by an amount equal to 50% of Consolidated Net Income (with no deductions for net losses) for the fiscal quarter then ended plus 100% of the amount of all Equity Issuances after the Closing Date that increase consolidated shareholders’ equity.
Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (i) $485,216,000, plus (ii) as of the end of each Fiscal Quarter, 50% of the positive cumulative Consolidated Net Income, commencing with the Fiscal Quarter ending June 30, 2006; plus (iii) 100% of the amount by which the Borrower’s “total stockholders’ equity” is increased as a result of any public or private offering of Capital Stock of the Borrower after the March 31, 2006. Promptly upon the consummation of such offering, the Borrower shall notify the Administrative Agent in writing of the amount of such increase in “total stockholders’ equity”.
Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than the sum of (i) $570,000,000, (ii) an amount equal to 50% of the Consolidated Net Income earned in each full fiscal quarter ending after the Effective Time (with no deduction for a net loss in any such fiscal quarter) and (iii) an amount equal to 100% of the aggregate increases in Shareholders’ Equity of the Company and its Subsidiaries after the Effective Time by reason of the issuance and sale of capital stock or other equity interests of the Company or any Subsidiary, including upon any conversion of debt securities of the Company into such capital stock or other equity interests, but excluding by reason of the issuance and sale of capital stock pursuant to the Company’s employee stock purchase plans, employee stock option plans and similar programs.
Consolidated Net Worth. The Borrower shall maintain a Consolidated Net Worth of not less than $600,000,000 plus ninety percent (90%) of the equity contributions or sales of treasury stock received by the Borrower after the Agreement Execution Date.
Consolidated Net Worth. The Consolidated Net Worth shall at all times be greater than or equal to $491,000,000, increased by the sum of (i) on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending September 30, 1999, an amount equal to 75% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus (ii) an amount equal to 100% of the Net Cash Proceeds from any Equity Issuance occurring after the Closing Date minus (iii) the aggregate price paid for all purchases of Capital Stock of the Borrower pursuant to the Stock Buy-Back Plan.
Consolidated Net Worth. MetLife will not permit its Consolidated Net Worth, calculated as of the last day of each fiscal quarter, to be less than $29,000,000,000.
Consolidated Net Worth. As of the end of each fiscal quarter, Consolidated Net Worth shall be not less than the sum of $67.1 million, plus on the last day of each fiscal quarter to end after the Closing Date, an amount equal to seventy-five percent (75%) of Consolidated Net Income for the fiscal quarter then ending (but not less than zero), such increases to be cumulative, plus an amount equal to one hundred percent (100%) of the net proceeds received from any Equity Transactions occurring after the Closing Date.