Common use of Minimum Book Net Worth Clause in Contracts

Minimum Book Net Worth. The Borrower will maintain, during each period set forth below, its Book Net Worth, determined as of the last day of each month, at an amount not less than the amount set forth opposite such period below: Period Minimum Book Net Worth ---------- ---------------------- March 2004 $5,575,000 April 2004 $5,550,000 May 2004 $5,725,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter

Appears in 1 contract

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

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Minimum Book Net Worth. The Borrower will maintain, during each period set forth month described below, its Book Net Worth, determined as of the last day of each month, at in an amount not less than the amount set forth opposite for each such period below: Period month Month Minimum Book Net Worth ---------- ---------------------- March 2004 $5,575,000 April 2004 $5,550,000 2006 $ 19,940,000 May 2004 $5,725,000 2006 $ 18,850,000 June 2004 $5,850,000 2006 $ 18,400,000 July 2004 $5,925,000 2006 $ 17,875,000 August 2004 $6,000,000 2006 $ 16,940,000 September 2004 $6,175,000 2006 $ 17,460,000 October 2004 $6,050,000 2006 $ 16,750,000 November 2004 $6,015,000 2006 $ 15,980,000 December 2004 2006 and each calendar $6,050,000" month thereafterthereafter $ 16,060,000

Appears in 1 contract

Samples: Credit and Security Agreement (Staar Surgical Co)

Minimum Book Net Worth. The Borrower will maintain, during each period set forth belowdescribed below and for each month thereafter, its consolidated Book Net Worth, determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period below: (numbers appearing between “< >” are negative): Period Minimum Book Net Worth ---------- ---------------------- March 2004 The month ending April 2, 2006 $5,575,000 24,480,000 The month ending April 2004 30, 2006 $5,550,000 24,530,000 The month ending May 2004 28, 2006 $5,725,000 June 2004 24,525,000 The month ending July 2, 2006 $5,850,000 24,740,000 The month ending July 2004 30, 2006 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter24,750,000

Appears in 1 contract

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

Minimum Book Net Worth. The Borrower will maintain, during each period set forth described below, its Book Net Worth, determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period belowperiod: Period Month Ending Minimum Book Net Worth ---------- ---------------------- March 2004 $5,575,000 April 2004 $5,550,000 May 2004 $5,725,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 31, 2002 $ (3,350,000 ) September 2004 $6,175,000 30, 2002 $ (3,525,000 ) October 2004 $6,050,000 31, 2002 $ (3,625,000 ) November 2004 $6,015,000 30, 2002 $ (3,800,000 ) December 2004 31, 2002, and each calendar $6,050,000" month thereafterthereafter $ (3,000,000 )

Appears in 1 contract

Samples: Credit and Security Agreement (Naturade Inc)

Minimum Book Net Worth. The Borrower will maintain, during each period set forth described below, its Book Net Worth, Worth determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period belowperiod: Period Minimum Book Net Worth ---------- PERIOD MINIMUM BOOK NET WORTH ------ ---------------------- March 2004 May, 1997 through September, 1997 $5,575,000 April 2004 850,000 October, 1997 $5,550,000 May 2004 950,000 November, 1997 through December, 1997 $5,725,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter1,100,000

Appears in 1 contract

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

Minimum Book Net Worth. (Borrowers). The Borrower Borrowers, on a consolidated basis, will maintain, during each period set forth described below, its Book Net Worth, determined as of the last day end of each month, at in an amount not less than the amount set forth opposite for each such period below: (numbers appearing between “< >” are negative): Period Ending Minimum Book Net Worth ---------- ---------------------- Funding Date through March 2004 $5,575,000 31, 2007 $ 435,000 April 2004 $5,550,000 May 2004 $5,725,000 1, 2007 through June 2004 $5,850,000 30, 2007 $ 600,000 July 2004 $5,925,000 August 2004 $6,000,000 1, 2007 through September 2004 $6,175,000 30, 2007 $ 1,000,000 October 2004 $6,050,000 November 2004 $6,015,000 1, 2007 through December 2004 and each calendar $6,050,000" month thereafter31, 2007 $ 1,635,000

Appears in 1 contract

Samples: Credit and Security Agreement (Pacific Cma Inc)

Minimum Book Net Worth. The Borrower will maintain, during each period set forth described below, its Book Net Worth, determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period belowperiod: Period 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 2004 $5,575,000 31, 2002 $ 11,025,000 The month ending April 2004 $5,550,000 30, 2002 $ 10,900,000 The month ending May 2004 $5,725,000 31, 2002 $ 10,650,000 The month ending June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 30, 2002 and each calendar $6,050,000" month thereafterthereafter $ 11,025,000"

Appears in 1 contract

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

Minimum Book Net Worth. The Borrower will maintain, during each period set forth described below, its Book Net Worth, determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period belowperiod: 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 2004 31, 2002 $5,575,000 3,226,000 April 2004 30, 2002 $5,550,000 3,098,000 May 2004 31, 2002 $5,725,000 2,874,000 June 2004 30, 2002 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter2,933,000

Appears in 1 contract

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

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Minimum Book Net Worth. The Borrower Borrowers will maintain, during each period set forth month described below, its their Book Net Worth, determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period belowperiod: 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 2004 $5,575,000 $ 1,765,000 April 2004 $5,550,000 $ 1,615,000 May 2004 $5,725,000 $ 1,615,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" every month thereafterthereafter $ 2,255,000

Appears in 1 contract

Samples: Credit and Security Agreement (Smtek International Inc)

Minimum Book Net Worth. The Borrower will maintain, during maintain as of the end of each period set forth month-end provided below, its Book Net Worth, determined as of at the last day end of each month, at an amount not less than the amount set forth opposite such period belowperiod: Period Minimum Book Net Worth ---------- ---------------------- March 2004 6/30/96 $5,575,000 April 2004 9,180,000 7/31/96 $5,550,000 May 2004 8,970,000 8/31/96 $5,725,000 June 2004 9,145,000 9/30/96 $5,850,000 July 2004 9,370,000 10/31/96 $5,925,000 August 2004 9,820,000 11/30/96 $6,000,000 September 2004 10,220,000 12/31/96 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter10,420,000

Appears in 1 contract

Samples: Credit and Security Agreement (Dakotah Inc)

Minimum Book Net Worth. The Borrower will maintain, during each monthly period set forth described below, its Book Net Worth, determined as at the end of the last day of each such month, at an amount not less than the amount set forth opposite such period belowperiod: Period Month Minimum Book Net Worth ---------- ---------------------- March December, 2004 $5,575,000 April 2004 $5,550,000 May 2004 $5,725,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter$ 14,036,000 January, 2005 $ 13,961,000 February, 2005 $ 13,827,000 March, 2005 $ 13,654,000 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 Borrower will maintain, at all times maintain during each period set forth described below, its Book Net WorthWorth (on an unconsolidated, Borrower-only basis), determined as of the last day end of each month, of at an amount not less than least the amount set forth opposite such period belowperiod: Period Minimum Book Net Worth ---------- ---------------------- March 2004 PERIOD MINIMUM BOOK NET WORTH June, July and August, 1997 $5,575,000 April 2004 2,400,000 September, 1997 through $5,550,000 May 2004 2,500,000 February, 1998 March, 1998 and thereafter $5,725,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 December 2004 and each calendar $6,050,000" month thereafter2,600,000

Appears in 1 contract

Samples: Credit and Security Agreement (Medamicus Inc)

Minimum Book Net Worth. The Borrower Borrowers will maintain, during maintain on each period set forth date listed below, its on a consolidated basis, Book Net Worth, determined as Worth of the last day of each month, at an amount not less than the amount set forth opposite such period belowdate: Period Date Minimum Book Net Worth ---------- ---------------------- March 2004 $5,575,000 April 2004 $5,550,000 May 2004 $5,725,000 31, 2002 $ 22,750,000 June 2004 $5,850,000 July 2004 $5,925,000 August 2004 $6,000,000 30, 2002 $ 23,700,000 September 2004 $6,175,000 October 2004 $6,050,000 November 2004 $6,015,000 30, 2002 $ 24,800,000 December 2004 and each calendar $6,050,000" month thereafter31, 2002 $ 25,700,000

Appears in 1 contract

Samples: Credit and Security Agreement (Medtox Scientific Inc)

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