Common use of Minimum Consolidated Adjusted Tangible Net Worth Clause in Contracts

Minimum Consolidated Adjusted Tangible Net Worth. Maintain at all times within each of the following periods, a Consolidated Adjusted Tangible Net Worth of not less than the amount shown below for the period corresponding thereto: Period Amount ------ ------ June 30, 1996 through and including September 29, 1996 ($1,000,000) September 30, 1996 through and including December 30, 1996 ($100,000) December 31, 1996 through and including March 30, 1997 $200,000 March 31, 1997 through and including June 29, 1997 $300,000 June 30, 1997 through and including September 29, 1997 $1,300,000 September 30, 1997 through and including December 30, 1997 $2,200,000 December 31, 1997 through and including March 30, 1998 $2,500,000 March 31, 1998 through and including June 29, 1998 $2,600,000 June 30, 1998 through and including September 29, 1998 $3,600,000 September 30, 1998 through and including December 30, 1998 $4,500,000 December 31, 1998 through and including March 30, 1999 $4,800,000 March 31, 1999 through and including each fiscal quarter thereafter $4,900,000

Appears in 2 contracts

Sources: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn), Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)