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

Minimum Consolidated Adjusted Tangible Net Worth. (a) During the period commencing on the Closing Date and ending on December 1, 2002, maintain a Consolidated Adjusted Tangible Net Worth of not less than the amount shown below for the Fiscal Quarter ending on a date set forth below that corresponds thereto: June 2, 2002 $ 13,000,000 September 1, 2002 $ 14,000,000 December 1, 2002 $ 15,000,000 (b) At all times from and after December 1, 2002, maintain as of the last day of each Fiscal Quarter thereafter a Consolidated Adjusted Tangible Net Worth equal to the amount set forth above as of December 1, 2002 plus an amount equal to 50% of Net Income during each such Fiscal Quarter, but no reduction in the foregoing amount shall be made if Net Income in any Fiscal Quarter is a negative number.

Minimum Consolidated Adjusted Tangible Net Worth. (a) During the period commencing on the Closing Date and ending on December 1, 2002, maintain a Consolidated Adjusted Tangible Net Worth of not less than the amount shown below for the Fiscal Quarter ending on a date set forth below that corresponds thereto: June 2, 2002 $ 13,000,000 September 1, 2002 $ 14,000,000 December 1, 2002 $ 15,000,0002,000,000 (b) At all times from and after December 1, 2002, maintain as of the last day of each Fiscal Quarter thereafter a Consolidated Adjusted Tangible Net Worth equal to the amount set forth above as of December 1, 2002 plus an amount equal to 50% of Net Income during each such Fiscal Quarter, but no reduction in the foregoing amount shall be made if Net Income in any Fiscal Quarter is a negative number.