Common use of Consolidated Net Worth Clause in Contracts

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the Company will not permit, as of the end of any fiscal quarter, its Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30, 2020.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permit, as of the end of at any fiscal quarter, its time permit Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum of 25(a) $116,926,600, plus (b) 50% of Consolidated Net Income, Income (but only if positive, a positive number) for each completed fiscal quarter (measured separately) commencing beginning with the first fiscal quarter ending after April 30February 29, 20202008, plus (c) the net proceeds from the issuance by the Company or any Subsidiary of Equity Interests after February 29, 2008.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the Company will Consolidated Net Worth shall not permit, as of the end of any each fiscal quarterquarter of Tenant that ends on and after January 31, its Consolidated Net Worth to 1997 be less than (i) $462,679,000 plus (ii) an amount equal to the sum of 25(a) $53,000,000 and (b) 60% of Consolidated Net Income, if Income for each fiscal quarter in which Consolidated Net Income is positive, with no adjustment for each completed fiscal quarter in which Consolidated Net Income is negative, on a cumulative basis (measured separately) calculated at the end of each fiscal quarter commencing with the first fiscal quarter ending after April 30of Tenant that commenced August 1, 20201996).

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permit, as of the end of at any fiscal quarter, its time permit Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum at such time of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separatelya) US$4,500,000,000 and (b) commencing with the first fiscal quarter ending after April 30beginning on January 1, 20202007, 50% of the Company’s Consolidated Net Income for each fiscal quarter of the Company for which Consolidated Net Income is positive and for which financial statements shall have been delivered under Section 5.01(a) or (b).”

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permit, as of the end of at any fiscal quarter, its time permit Consolidated Net Worth to be less than (i) $462,679,000 170,000,000 plus (ii) the sum of 2550% of each fiscal quarter's Consolidated Net Income, if positive, Income (with no deduction for each completed fiscal quarter (measured separatelylosses) commencing with the first fiscal quarter ending on January 1, 1999 plus 75% of any Net Issuance Proceeds after April 30January 1, 20201999.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permitnot, as of the end of any fiscal quarter, its permit Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum of (a) $150,000,000, plus (b) an aggregate amount equal to 25% of Consolidated Net IncomeIncome (but, in each case, only if positive, a positive number) for each completed fiscal quarter (measured separately) commencing beginning with the first fiscal quarter ending after April June 30, 20202006 plus (c) an aggregate amount equal to 50% of the net proceeds of all Equity Issuances after the date of Closing.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May commencing November 1, 20202010, the Company will not permit, as of the end of any fiscal quarter, its Consolidated Net Worth to be less than (i) $462,679,000 25,000,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30November 1, 20202010.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the Company The Corporation will not permit, as of the end of any fiscal quarter, its permit Consolidated Net Worth at any time to be less than the sum of (a) $35,569,167 at March 31, 1992, plus (b) an amount during each fiscal quarter thereafter equal to the sum of (i) $462,679,000 the amount of Consolidated Net Worth required hereunder for the immediately preceding fiscal quarter, plus (ii) the sum of 25% if positive, fifty percent (50%) of Consolidated Net Income, if positive, Income for each completed such immediately preceding fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30, 2020quarter.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permitnot, as of the end of at any fiscal quartertime, its permit Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum of 25(a) $350,000,000, plus (b) an aggregate amount equal to 20% of its Consolidated Net IncomeIncome (but, in each case, only if positive, a positive number) for each completed fiscal quarter (measured separately) commencing beginning with the first fiscal quarter ending after April 30ended September 26, 20201998.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permitensure that Consolidated Net Worth is not, as of the end of any fiscal quarterquarter in each fiscal year beginning with the fiscal quarter ended July 31, its Consolidated Net Worth to be 2006, less than U.S.$586,500,000 (ithe "Threshold CNW Amount") $462,679,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30, 2020.plus:

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will shall not permit, as of the end of any fiscal quarter, permit its Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum of 25% (a) Seventy Million Dollars ($70,000,000) plus (b) fifty percent (50%) of Consolidated Net Incomethe Company's cumulative net income for the calendar year-to-date (without deduction for net losses) at the end of each fiscal quarter, if positive, for each completed starting with the fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30beginning January 1, 20201996.

Consolidated Net Worth. Commencing with the fiscal quarter beginning commencing May 1, 20202016, the Company will not permit, as of the end of any fiscal quarter, its Consolidated Net Worth to be less than (i) $462,679,000 25,000,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30November 1, 20202010. For purposes of clarification, the minimum Consolidated Net Worth required as of the end of the fiscal quarter ended January 31, 2016 was $210,137,000.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 20202017, the Company will not permit, as of the end of any fiscal quarter, its Consolidated Net Worth to be less than (i) $462,679,000 25,000,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30November 1, 20202010. For purposes of clarification, the minimum Consolidated Net Worth required as of the end of the fiscal quarter ended January 31, 2017 was $258,750,000.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permitensure that Consolidated Net Worth is not, as of the end of any fiscal quarterquarter in each fiscal year beginning with the fiscal quarter ended July 31, its Consolidated Net Worth to be 2009, less than U.S.$637,049,000 (ithe “Threshold CNW Amount”) $462,679,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30, 2020.plus:

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permitshall not, as of the end last day ---------------------- of any fiscal quarter, its permit Consolidated Net Worth to be less than (i) $462,679,000 plus (ii) the sum of 25(a) $290,000,000 plus (b) an amount equal to 50% of Consolidated the Net Income, if positive, for Income earned in each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30December 31, 20202000 (with no deduction for a net loss in any such fiscal quarter).

Consolidated Net Worth. Commencing with the fiscal quarter beginning commencing May 1, 20202013, the Company will not permit, as of the end of any fiscal quarter, its Consolidated Net Worth to be less than (i) $462,679,000 25,000,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after April 30November 1, 20202010.

Consolidated Net Worth. Commencing with the fiscal quarter beginning May 1, 2020, the The Company will not permit, as of the end of at any fiscal quarter, its time permit Consolidated Net Worth to be less than $280,000,000 plus, as of the end of each fiscal quarter commencing with the fiscal quarter ending September 30, 2004, (i) $462,679,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, Income for each completed the fiscal quarter then ended (measured separatelywith no deduction for a net loss in any such fiscal quarter) commencing with and (ii) 100% of the first fiscal quarter ending after April 30proceeds of the issuance of any Equity Interests, 2020such increases to be cumulative.