Common use of Minimum Capital Base Clause in Contracts

Minimum Capital Base. The Borrower shall maintain at all times, measured at the end of each fiscal quarter, a Consolidated Capital Base of not less than $100,000,000 plus (a) 50% of each quarterly Consolidated Net Income gain since September 30, 1998, plus (b) 100% of Net Proceeds from any issuance of equity securities by the Borrower since September 30, 1998, plus (c) 100% of the Net Proceeds from any issuance by the Borrower of Subordinated Debt from and after September 30, 1998, excluding the SubNote Debt as of November 20, 1998.

Minimum Capital Base. The Borrower shall maintain at all times, measured at the end of each fiscal quarter, a Consolidated Capital Base of not less than $100,000,000 62,500,000 plus (a) 50% of each quarterly Consolidated Net Income gain since September 30, 19981997, plus (b) 100% of Net Proceeds from any issuance of equity securities by the Borrower since September 30, 19981997, plus (c) 100% of the Net Proceeds from any issuance by the Borrower of Subordinated Debt from and after September 30, 1998, excluding the SubNote Debt as of November 20, 1998Debt.