Common use of Consolidated Net Worth Clause in Contracts

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 2004.

Appears in 3 contracts

Samples: Day Revolving Credit Agreement (PHH Corp), Credit Agreement (PHH Corp), Competitive Advance and Revolving Credit Agreement (PHH Corp)

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Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the greater of (a) the sum of (i) $1,000,000,000 70% of Consolidated Net Worth on the first calendar quarter-end following the Acquisition plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 2004the first fiscal quarter-end following the Acquisition or (b) $400,000,000.

Appears in 2 contracts

Samples: 364 Day Competitive Advance and Revolving Credit Agreement (PHH Corp), Five Year Competitive Advance and Revolving Credit Agreement (PHH Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter ended after the Closing Date to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 20041,000,000,000.

Appears in 2 contracts

Samples: Credit Agreement (PHH Corp), Credit Agreement (PHH Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter ended after the Fourth Amendment Effective Date to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 20041,000,000,000.

Appears in 2 contracts

Samples: Fourth Amendment (PHH Corp), Fourth Amendment (PHH Corp)

Consolidated Net Worth. Permit the Consolidated Net Worth on the last day of any fiscal quarter of the Borrower to be less than the sum of (i) $1,000,000,000 900,000,000 plus (ii) 2550% of Consolidated Net Income, if positive, Income for each full fiscal quarter ended after December 31, 2004subsequent to the Closing Date and prior to the date of such determination in which Consolidated Net Income is a positive number plus (iii) 50% of all Net Cash Proceeds received by the Borrower and its Subsidiaries from any issuance of Capital Stock subsequent to the Closing Date and prior to the date of such determination.

Appears in 2 contracts

Samples: Credit Agreement (Perkinelmer Inc), Perkinelmer Inc

Consolidated Net Worth. Permit Consolidated Net Worth (a) on the Original Closing Date, to be less than $35,000,000 or (b) on the last day of any fiscal quarter thereafter, to be less than the sum of (i) $1,000,000,000 35,000,000 plus (ii) 2550% of the cumulative amount of positive Consolidated Net Income, if positive, Income for each fiscal quarter ended year ending after December 31, 2004the Original Closing Date.

Appears in 2 contracts

Samples: Credit Agreement (Hartley Controls Corp), Credit Agreement (Neenah Foundry Co)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 700,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31September 30, 20041999.

Appears in 2 contracts

Samples: Credit Agreement (Cendant Corp), Credit Agreement (Cendant Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on as at the last day of any fiscal quarter ending on or after October 4, 1997 to be less than the sum of (i) $1,000,000,000 130,000,000 plus (ii) 2550% of Consolidated Net Income, if positive, Income for each fiscal quarter ended (if Consolidated Net Income for such fiscal quarter is positive) that commences after December 31January 3, 20041998 and ends on or prior to such last day."

Appears in 1 contract

Samples: Second Amendment (Department 56 Inc)

Consolidated Net Worth. Permit Consolidated Net Worth to be less than $(320,000,000) on the last day of any the fiscal quarter to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Incomeended on or about September 30, if positive1997, for and each fiscal quarter ended after December 31, 2004thereafter.

Appears in 1 contract

Samples: Credit Agreement (Fairwood Corp)

Consolidated Net Worth. Permit Consolidated Net Worth to be less than: (i) $(380,000,000) on the last day of any fiscal quarter on or prior to be less than the sum of (i) $1,000,000,000 plus September 30, 1998, and (ii) 25% $(400,000,000) on the last day of Consolidated Net Incomethe fiscal quarter ended December 31, if positive1998, for and each fiscal quarter ended after December 31, 2004thereafter.

Appears in 1 contract

Samples: Credit Agreement (Fairwood Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter ending after March 31, 1998, to be less than the sum of (i) $1,000,000,000 25,000,000 plus (ii) 2575% of the cumulative Consolidated Net Income, if positive, Income for each fiscal quarter ended ending after December March 31, 20041998 (excluding any fiscal quarter for which Consolidated Net Income is negative).

Appears in 1 contract

Samples: Credit Agreement (King Pharmaceuticals Inc)

Consolidated Net Worth. Permit Consolidated Net Worth on as of the last day of any each fiscal quarter shall be greater than or equal to be less than the sum of (i) $1,000,000,000 80% of the Consolidated Net Worth as of the Closing 72 78 Date, plus (ii) 2550% of positive Consolidated Net IncomeIncome following the Closing Date, if positive, for each fiscal quarter ended after December 31, 2004plus (iii) 100% of Equity Issuances on or following the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Sleepmaster LLC)

Consolidated Net Worth. Permit Consolidated Net Worth on as of the last day of any each fiscal quarter to be less than an amount equal to the sum of (i) $1,000,000,000 U.S.$375,000,000, plus (ii) 2550% of cumulative Consolidated Net IncomeIncome since June 30, if positive2005, minus (iii) any charges taken since the Closing Date for each fiscal quarter ended after December 31, 2004the impairment of goodwill taken pursuant to FASB 142.

Appears in 1 contract

Samples: Credit Agreement (Rock-Tenn CO)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 601,400,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31September 30, 20041998.

Appears in 1 contract

Samples: Credit Agreement (Cendant Corp)

Consolidated Net Worth. Permit Consolidated Net Worth to be (i) less than $(440,000,000) on the last day of any fiscal quarter ended on or prior to be less than the sum of (i) $1,000,000,000 plus September 30, 1999 and (ii) 25% less than $(460,000,000) on the last day of Consolidated Net Incomethe fiscal quarter ended on December 31, if positive1999, for and each fiscal quarter ended after December 31, 2004thereafter.

Appears in 1 contract

Samples: Credit Agreement (Fairwood Corp)

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Consolidated Net Worth. Permit Consolidated Net Worth on at the last day of any fiscal quarter to be less than the sum greater of (i) $1,000,000,000 plus 140,000,000, or (ii) 2580% of Consolidated Net IncomeWorth for fiscal year ended January 4, if positive, for each fiscal quarter ended after December 31, 20041999.

Appears in 1 contract

Samples: Credit Agreement (Department 56 Inc)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter ending after December 31, 1998, to be less than the sum of (i) $1,000,000,000 85,000,000 plus (ii) 2575% of the cumulative Consolidated Net Income, if positive, Income plus (iii) 50% of Net Cash Proceeds of Equity Issuances by the Borrower for each fiscal quarter ended ending after December 31, 20041998 (excluding any fiscal quarter for which Consolidated Net Income is negative).

Appears in 1 contract

Samples: Credit Agreement (King Pharmaceuticals Inc)

Consolidated Net Worth. Permit Consolidated Net Worth on as at the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 140,000,000 plus (ii) 2550% of Consolidated Net Income, if positive, Income for each fiscal quarter ended after December 31(if Consolidated Net Income for such fiscal quarter is positive) ending on or prior to such day, 2004commencing with the fiscal quarter ending April 5, 1997.

Appears in 1 contract

Samples: First Amendment (Department 56 Inc)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 1,300,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 20042002.

Appears in 1 contract

Samples: Competitive Advance and Revolving Credit Agreement (PHH Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 1,350,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 20042003.

Appears in 1 contract

Samples: Credit Agreement (PHH Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on as at the last day of any fiscal quarter of the Borrower ending on or after June 30, 2005 to be less than the sum of (i) $1,000,000,000 plus 1,583,200,000 and (ii) 2550% of cumulative Consolidated Net Income, if positive, Income for each fiscal quarter ended after December of the Borrower (beginning with the fiscal quarter ending March 31, 20042005) for which Consolidated Net Income is positive.

Appears in 1 contract

Samples: Credit Agreement (Coventry Health Care Inc)

Consolidated Net Worth. Permit Consolidated Net Worth to be (i) less than $(435,000,000) on the last day of any fiscal quarter ended on or prior to be less than the sum of (i) $1,000,000,000 plus September 30, 1999 and (ii) 25% less than $(450,000,000) on the last day of Consolidated Net Incomethe fiscal quarter ended on December 31, if positive1999, for and each fiscal quarter ended after December 31, 2004thereafter.

Appears in 1 contract

Samples: Credit Agreement (Fairwood Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter, commencing with the fiscal quarter ending December 31, 1997, to be less than the sum of (i) $1,000,000,000 31,255,900 plus (ii) 25100% of any Equity Proceeds plus (iii) the cumulative total of 50% of Consolidated Net Income, if positive, Income for each fiscal quarter after September 30, 1997 in which Consolidated Net Income is positive, to and including the fiscal quarter ended after December 31, 2004on such measurement date.

Appears in 1 contract

Samples: Subordinated Note and Warrant Purchase Agreement (Hallwood Consolidated Resources Corp)

Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter ended after the Closing Date to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 2004US$1,000,000,000.

Appears in 1 contract

Samples: Parent Guaranty (PHH Corp)

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