Common use of Maintenance of Tangible Net Worth Clause in Contracts

Maintenance of Tangible Net Worth. The Company shall not permit at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 plus (b) 75% of the aggregate net proceeds received by the Company or any of its Subsidiaries after October 14, 2014 in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the Subsidiaries.

Appears in 4 contracts

Samples: Note Purchase Agreement (LTC Properties Inc), Note Purchase and Private Shelf Agreement (LTC Properties Inc), Note Purchase and Private Shelf Agreement (LTC Properties Inc)

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Maintenance of Tangible Net Worth. The Company shall not permit at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 385,000,000 plus (b) 7580% of the aggregate net proceeds received by the Company or any of its Subsidiaries after October 14May 5, 2014 2011 in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the Subsidiaries.

Appears in 3 contracts

Samples: Note Purchase and Private Shelf Agreement (LTC Properties Inc), Note Purchase Agreement (LTC Properties Inc), LTC Properties Inc

Maintenance of Tangible Net Worth. The Company shall not permit at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 834,451,000 plus (b) 75% of the aggregate net proceeds received by the Company or any of its Subsidiaries after October 14December 31, 2014 2020 in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the Subsidiaries.”

Appears in 3 contracts

Samples: Note Purchase Agreement (LTC Properties Inc), Note Purchase Agreement (LTC Properties Inc), LTC Properties Inc

Maintenance of Tangible Net Worth. The Company shall not permit at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 385,000,000 plus (b) 7580% of the aggregate net proceeds received by the Company or any of its Subsidiaries after October 14, 2014 the May 2011 Amendment Effective Date in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the Subsidiaries.

Appears in 1 contract

Samples: LTC Properties Inc

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Maintenance of Tangible Net Worth. The Company shall will not permit Consolidated Tangible Net Worth at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 plus 85,000,000, (b) 7550% of the sum of Consolidated Net Income Available for Net Worth for the period from December 30, 2000 to and including the last day of the fiscal year most recently ended prior to the measurement date and (c) the aggregate amount of any net proceeds received of private or public placement(s) of equity securities by the Company or any of its Subsidiaries after October 14, 2014 in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the SubsidiariesCompany.

Appears in 1 contract

Samples: Quaker Fabric Corp /De/

Maintenance of Tangible Net Worth. The Company shall not permit at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 834,451,000 plus (b) 75% of the aggregate net proceeds received by the Company or any of its Subsidiaries after October 14December 31, 2014 2020 in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the Subsidiaries.

Appears in 1 contract

Samples: Note Purchase Agreement (LTC Properties Inc)

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