Common use of Minimum Consolidated Net Worth Clause in Contracts

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth to be less than an amount equal to the sum of (a) $1,200,000,000 plus (b) 25% of positive Consolidated Net Income earned in each calendar year commencing with the calendar year ending December 31, 2021.

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (a) $1,200,000,000 125,000,000, plus (b) 2585% of positive Consolidated Net Income earned the aggregate proceeds received by Borrower (net of customary related fees and expenses) in each calendar year commencing connection with any offering of stock by Borrower after the calendar year ending December 31, 2021date hereof.

Minimum Consolidated Net Worth. The Borrower Borrowers shall not permit its at any time Consolidated Net Worth to be less than an amount equal to the sum of (a) $1,200,000,000 606,602,000.00 plus (b) 25% seventy-five percent (75%) of positive Consolidated the sum of any additional Net Income earned in each calendar year commencing with Offering Proceeds after the calendar year ending December 31, 2021date of this Agreement.

Minimum Consolidated Net Worth. The Borrower shall will not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ai) $1,200,000,000 280,000,000 plus (bii) 25% thirty percent (30%) of positive the sum of the Consolidated Net Income earned in of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each calendar year fiscal quarter of the Borrower commencing with the calendar year fiscal quarter of the Borrower ending December March 31, 20212000.

Minimum Consolidated Net Worth. The Borrower shall will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $260,000,000 plus (ii) an amount equal to the sum of (a) $1,200,000,000 plus (b) 2550% of positive the Borrower's Consolidated Net Income earned for each fiscal quarter ending after the Initial Borrowing Date (without deduction for any fiscal quarter in each calendar year commencing with which the calendar year ending December 31, 2021Borrower's Consolidated Net Income is negative).

Minimum Consolidated Net Worth. The Borrower shall will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $220,000,000 plus (ii) an amount equal to the sum of (a) $1,200,000,000 plus (b) 2550% of positive the Borrower's Consolidated Net Income earned for each fiscal quarter ending after the Initial Borrowing Date (without deduction for any fiscal quarter in each calendar year commencing with which the calendar year ending December 31, 2021Borrower's Consolidated Net Income is negative).

Minimum Consolidated Net Worth. The Borrower shall not In the case of the Borrower, permit its Consolidated Net Worth at any time to be less than an amount equal to the sum greater of (ai) $1,200,000,000 plus 375,000,000 and (bii) 25% of positive Consolidated Net Income earned any more restrictive amount set forth in each calendar year commencing with the calendar year ending December 31, 2021Note Purchase Agreement.

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ax) $1,200,000,000 1,349,059,000 plus (by) 25% of positive Consolidated Net Income earned in (if positive) for each calendar year fiscal quarter of the Borrower (commencing with the calendar year fiscal quarter ending December 31June 30, 20212006).

Minimum Consolidated Net Worth. The Borrower Borrowers shall not permit its Consolidated Net Worth at any Quarterly Date to be less than $120,000,000 plus an amount equal to the sum of (a) $1,200,000,000 plus (b) 2585% of positive Consolidated Net Income earned in each calendar year commencing with for all periods from the calendar year ending December 31, 2021Closing Date through such Quarterly Date (net of all net losses for the Borrowers and their Subsidiaries on a consolidated basis for the same period).

Minimum Consolidated Net Worth. The Borrower shall will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $260,000,000 plus (ii) an amount equal to the sum of (a) $1,200,000,000 plus (b) 2550% of positive the Borrower’s Consolidated Net Income earned for each fiscal quarter ending after May 28, 2004 (without deduction for any fiscal quarter in each calendar year commencing with which the calendar year ending December 31, 2021Borrower’s Consolidated Net Income is negative).

Minimum Consolidated Net Worth. The Borrower Borrowers shall not permit its Consolidated Net Worth at any Quarterly Date to be less than $120,000,000 plus an amount equal to the sum of (a) $1,200,000,000 plus (b) 2585% of positive Consolidated Net Income earned in each calendar year commencing with for all periods from November 14, 1997 through such Quarterly Date (net of all net losses for Borrowers and their Subsidiaries on a consolidated basis for the calendar year ending December 31, 2021same period).

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth to be less than an amount equal to the sum of (a) $1,200,000,000 plus (b) 25% of positive Consolidated Net Income earned in each calendar year commencing with the calendar year ending December 31, 20212023.

Minimum Consolidated Net Worth. The Borrower Borrowers shall not permit its Consolidated Net Worth at any Quarterly Date to be less than $120,000,000 plus an amount equal to the sum of (a) $1,200,000,000 plus (b) 2585% of positive Consolidated Net Income earned in each calendar year commencing with for all periods from the calendar year ending December 31, 2021Closing Date through such Quarterly Date (net of all net losses for Borrowers and their Subsidiaries on a consolidated basis for the same period).

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ax) $1,200,000,000 plus 850,000,000 and (by) 25% of positive Consolidated Cumulative Net Income earned in each calendar year commencing with the calendar year ending December 31, 2021Income.

Minimum Consolidated Net Worth. The Borrower Borrowers shall not permit its Consolidated Net Worth at any Quarterly Date to be less than $120,000,000 plus an amount equal to the sum of (a) $1,200,000,000 plus (b) 2585% of positive Consolidated Net Income earned in each calendar year commencing with for all periods from November 14, 1997 through such Quarterly Date (net of all net losses for the calendar year ending December 31, 2021Borrowers and their Subsidiaries on a consolidated basis for the same period).

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ai) $1,200,000,000 85% of Consolidated Net Worth on the Effective Date plus (bii) 2580% of positive Consolidated Net Income earned in each calendar year commencing with on a cumulative basis since the calendar year ending December 31, 2021Effective Date plus (iii) 100% of Net Securities Proceeds on a cumulative basis since the Effective Date.

Minimum Consolidated Net Worth. The Borrower shall will not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ai) $1,200,000,000 615,000,000 plus (bii) 2550% of positive the consolidated net income of the Borrower and its Consolidated Net Income earned Subsidiaries in each calendar year commencing with completed fiscal quarter of the calendar year Borrower ending December after March 31, 20212000 (with no deduction for a net loss in any such fiscal quarter).

Minimum Consolidated Net Worth. The Borrower shall not permit its Consolidated Net Worth at any time to be less than an amount equal to the sum of (ax) $1,200,000,000 973,190,000 plus (by) 25% of positive Consolidated Cumulative Net Income earned in each calendar year commencing with the calendar year ending December 31, 2021Income.