Minimum Adjusted Consolidated Net Worth. From and after the Availability Effective Date, the Guarantor will not permit its Adjusted Consolidated Net Worth, calculated as of the end of each fiscal quarter, to be less than an amount equal to the sum of (i) (x) prior to the end of the first fiscal quarter of the Guarantor ending after the IPO Effective Date, $8,169,000,000 or (y) on and after the end of the first fiscal quarter of the Guarantor ending after the IPO Effective Date, 70% of the actual Adjusted Consolidated Net Worth of the Guarantor (determined as of the end of the first fiscal quarter of the Guarantor ending after the IPO Effective Date) plus (ii) 50% of the aggregate amount of the Net Proceeds of Equity Issuances by the Guarantor and its Subsidiaries after the IPO Effective Date, other than Equity Issuances in connection with the IPO.
Appears in 8 contracts
Samples: Reimbursement Agreement (AXA Equitable Holdings, Inc.), Reimbursement Agreement (AXA Equitable Holdings, Inc.), Reimbursement Agreement (AXA Equitable Holdings, Inc.)
