Common use of Minimum Book Net Worth Clause in Contracts

Minimum Book Net Worth. The Borrowers will maintain on each date listed below, on a consolidated basis, Book Net Worth of not less than the amount set forth opposite such date: Date Minimum Book Net Worth March 31, 2002 $ 22,750,000 June 30, 2002 $ 23,700,000 September 30, 2002 $ 24,800,000 December 31, 2002 $ 25,700,000

Appears in 1 contract

Samples: Credit and Security Agreement (Medtox Scientific Inc)

AutoNDA by SimpleDocs

Minimum Book Net Worth. The Borrowers Borrower will at all times maintain on during each date listed period described below, on a consolidated basis, its Book Net Worth (on an unconsolidated, Borrower-only basis), determined as of not less than the end of each month, of at least the amount set forth opposite such dateperiod: Date Minimum Book Net Worth March 31PERIOD MINIMUM BOOK NET WORTH June, 2002 $ 22,750,000 June 30July and August, 2002 $ 23,700,000 September 301997 $2,400,000 September, 2002 $ 24,800,000 December 311997 through $2,500,000 February, 2002 $ 25,700,0001998 March, 1998 and thereafter $2,600,000

Appears in 1 contract

Samples: Credit and Security Agreement (Medamicus Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed belowperiod described below and for each month thereafter, on a its consolidated basis, Book Net Worth Worth, determined as at the end of each month, at an amount not less than the amount set forth opposite such date: Date period (numbers appearing between “< >” are negative): Period Minimum Book Net Worth March 31The month ending April 2, 2002 $ 22,750,000 June 2006 $24,480,000 The month ending April 30, 2002 $ 23,700,000 September 2006 $24,530,000 The month ending May 28, 2006 $24,525,000 The month ending July 2, 2006 $24,740,000 The month ending July 30, 2002 $ 24,800,000 December 31, 2002 $ 25,700,0002006 $24,750,000

Appears in 1 contract

Samples: Credit and Security Agreement (Cost U Less Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on as of the end of each date listed month-end provided below, on a consolidated basis, its Book Net Worth Worth, determined as at the end of each month, at an amount not less than the amount set forth opposite such dateperiod: Date Period Minimum Book Net Worth March 31, 2002 $ 22,750,000 June 30, 2002 $ 23,700,000 September 30, 2002 $ 24,800,000 December 31, 2002 $ 25,700,0006/30/96 $9,180,000 7/31/96 $8,970,000 8/31/96 $9,145,000 9/30/96 $9,370,000 10/31/96 $9,820,000 11/30/96 $10,220,000 12/31/96 $10,420,000

Appears in 1 contract

Samples: Credit and Security Agreement (Dakotah Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed period described below, on a consolidated basis, its Book Net Worth Worth, determined as at the end of each month, at an amount not less than the amount set forth opposite such dateperiod: Date Minimum Book Net Worth PERIOD MINIMUM BOOK NET WORTH The month ending January 31, 2002 $ 11,400,000 The month ending February 28, 2002 $ 11,400,000 The month ending March 31, 2002 $ 22,750,000 11,025,000 The month ending April 30, 2002 $ 10,900,000 The month ending May 31, 2002 $ 10,650,000 The month ending June 30, 2002 and thereafter $ 23,700,000 September 30, 2002 $ 24,800,000 December 31, 2002 $ 25,700,00011,025,000"

Appears in 1 contract

Samples: Credit and Security Agreement (Vari L Co Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed monthly period described below, on a consolidated basis, its Book Net Worth Worth, determined as at the end of such month, at an amount not less than the amount set forth opposite such dateperiod: Date Month Minimum Book Net Worth March 31December, 2002 2004 $ 22,750,000 June 3014,036,000 January, 2002 2005 $ 23,700,000 September 3013,961,000 February, 2002 2005 $ 24,800,000 December 3113,827,000 March, 2002 2005 $ 25,700,00013,654,000 April, 2005 $ 13,768,000 May, 2005 $ 13,809,000

Appears in 1 contract

Samples: Credit and Security Agreement (Ault Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed period described below, on a consolidated basis, its Book Net Worth Worth, determined as at the end of each month, at an amount not less than the amount set forth opposite such dateperiod: Date Period Ended Minimum Book Net Worth ------------ ---------------------- October 31, 2001 $4,607,000 November 30, 2001 $4,264,000 December 31, 2001 $3,769,000 January 31, 2002 $3,577,000 February 28, 2002 $3,429,000 March 31, 2002 $ 22,750,000 $3,226,000 April 30, 2002 $3,098,000 May 31, 2002 $2,874,000 June 30, 2002 $ 23,700,000 September 30, 2002 $ 24,800,000 December 31, 2002 $ 25,700,000$2,933,000

Appears in 1 contract

Samples: Credit and Security Agreement (Lectec Corp /Mn/)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed month described below, on a consolidated basis, its Book Net Worth Worth, determined as of the last day of each month, in an amount not less than the amount set forth opposite for each such date: Date month Month Minimum Book Net Worth March 31, 2002 April 2006 $ 22,750,000 19,940,000 May 2006 $ 18,850,000 June 30, 2002 2006 $ 23,700,000 18,400,000 July 2006 $ 17,875,000 August 2006 $ 16,940,000 September 30, 2002 2006 $ 24,800,000 17,460,000 October 2006 $ 16,750,000 November 2006 $ 15,980,000 December 31, 2002 2006 and each month thereafter $ 25,700,00016,060,000

Appears in 1 contract

Samples: Credit and Security Agreement (Staar Surgical Co)

AutoNDA by SimpleDocs

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed period described below, on a consolidated basis, its Book Net Worth Worth, determined as at the end of each month, at an amount not less than the amount set forth opposite such dateperiod: Date Month Ending Minimum Book Net Worth March August 31, 2002 $ 22,750,000 June 30, 2002 $ 23,700,000 (3,350,000 ) September 30, 2002 $ 24,800,000 December (3,525,000 ) October 31, 2002 $ 25,700,000(3,625,000 ) November 30, 2002 $ (3,800,000 ) December 31, 2002, and each month thereafter $ (3,000,000 )

Appears in 1 contract

Samples: Credit and Security Agreement (Naturade Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed period described below, on a consolidated basis, its Book Net Worth determined as at the end of each month, at an amount not less than the amount set forth opposite such dateperiod: Date Minimum Book Net Worth March 31PERIOD MINIMUM BOOK NET WORTH ------ ---------------------- May, 2002 $ 22,750,000 June 301997 through September, 2002 $ 23,700,000 September 301997 $850,000 October, 2002 $ 24,800,000 December 311997 $950,000 November, 2002 $ 25,700,0001997 through December, 1997 $1,100,000

Appears in 1 contract

Samples: Credit and Security Agreement (Rsi Systems Inc/Mn)

Minimum Book Net Worth. The Borrowers will maintain on maintain, during each date listed month described below, on a consolidated basis, their Book Net Worth Worth, determined as at the end of each month, at an amount not less than the amount set forth opposite such dateperiod: Date Period Minimum Book Net Worth July 2003 $ 300,000 August 2003 $ 400,000 September 2003 $ 1,200,000 October 2003 $ 1,050,000 November 2003 $ 1,050,000 December 2003 $ 1,350,000 January 2004 $ 1,200,000 February 2004 $ 1,200,000 March 31, 2002 2004 $ 22,750,000 1,765,000 April 2004 $ 1,615,000 May 2004 $ 1,615,000 June 30, 2002 2004 and every month thereafter $ 23,700,000 September 30, 2002 $ 24,800,000 December 31, 2002 $ 25,700,0002,255,000

Appears in 1 contract

Samples: Credit and Security Agreement (Smtek International Inc)

Minimum Book Net Worth. The Borrowers Borrower will maintain on maintain, during each date listed period set forth below, on a consolidated basis, its Book Net Worth Worth, determined as of the last day of each month, at an amount not less than the amount set forth opposite such dateperiod below: Date Period Minimum Book Net Worth ---------- ---------------------- March 31, 2002 $ 22,750,000 2004 $5,575,000 April 2004 $5,550,000 May 2004 $5,725,000 June 30, 2002 $ 23,700,000 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 30, 2002 $ 24,800,000 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 31, 2002 $ 25,700,0002004 and each calendar $6,050,000" month thereafter

Appears in 1 contract

Samples: Credit and Security Agreement (Ag Bag International LTD)

Minimum Book Net Worth. (Borrowers). The Borrowers will maintain on each date listed belowBorrowers, on a consolidated basis, will maintain, during each period described below, Book Net Worth Worth, determined as of the end of each month, in an amount not less than the amount set forth opposite for each such date: Date period (numbers appearing between “< >” are negative): Period Ending Minimum Book Net Worth Funding Date through March 31, 2002 2007 $ 22,750,000 435,000 April 1, 2007 through June 30, 2002 2007 $ 23,700,000 600,000 July 1, 2007 through September 30, 2002 2007 $ 24,800,000 1,000,000 October 1, 2007 through December 31, 2002 2007 $ 25,700,0001,635,000

Appears in 1 contract

Samples: Credit and Security Agreement (Pacific Cma Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!