Common use of Minimum Consolidated Tangible Net Worth Clause in Contracts

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Cause Consolidated Tangible Net Worth will to be, at no time be less than a cumulatively increasing amount equal to any date of determination, at least the sum of (i) $130,000,000 70,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20fiscal quarter ended after December 31, 2006 1996 and thereafter. In determining prior to the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative date of such determination for which such Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedIncome is a positive number.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 59,500,000 plus (ii) 50% of the cumulative Consolidated Net Income during any period after December 31, 2002 (taken as one accounting period), calculated quarterly at the end of each Fiscal Quarter, but excluding from such calculations of Consolidated Net Income for each purposes of this Section, any Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative in which Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedIncome is negative.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will shall be at no time be less than a cumulatively increasing least $500,000,000 plus an amount equal to the sum of (i) $130,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter fiscal quarter of the Borrower and its Consolidated Subsidiaries ending September 20after June 30, 2006 and thereafter. In determining 1996 (but on or prior to the minimum date of determination) for which Consolidated Tangible Net Worth required by this Section 5.03, any Income is positive (but with no deduction on account of negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedIncome for any fiscal quarter of the Borrower and its Consolidated Subsidiaries).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to $2,418,000.00 plus the sum of (i) $130,000,000 plus (ii) 50% of the cumulative Reported Net Income of the Borrower and its Consolidated Subsidiaries during any period after December 31, 1995 (taken as one accounting period), calculated annually as of December 31 of each year but excluding from such calculations any year in which the Consolidated Net Income for each Fiscal Quarter ending September 20, 2006 of the Borrower and thereafter. In determining the minimum its Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedSubsidiaries is negative.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of than: (a) (i) $130,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20in Fiscal Year 2009, 2006 $95,000,000.00, and thereafter. In determining (ii) for each Fiscal Quarter ending in Fiscal Year 2010, $90,000,000.00; plus (b) 100% of the minimum Consolidated Tangible cumulative Net Worth required by this Section 5.03Proceeds of Capital Stock/Conversion of Debt received during any period after the Fiscal Year ended November 30, any negative Consolidated Net Income2007, computed cumulatively on an annual basis, shall be excludedcalculated quarterly.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to $165,000,000: (A) plus the sum of (i) $130,000,000 plus if Net Income for any Fiscal Year ending after February 1, 2003 is a positive number, an amount equal to 50% of such Net Income, and (ii) 50100% of the Consolidated cumulative Net Income for each Fiscal Quarter ending September 20Proceeds of Capital Stock/Conversion of Debt received during any period after February 1, 2006 2003, calculated quarterly; and thereafter. In determining (B) minus any amount paid by Borrower to purchase shares of its own capital stock after the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedClosing Date.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Permit Consolidated Tangible Net Worth will at no any time to be less than a cumulatively increasing the sum of (a) $55,000,000.00 plus (b) an amount equal to 50% of the sum of (i) $130,000,000 plus the positive year-to-date Consolidated Net Income through such date and (ii) 50% of other than for the then current fiscal year, the positive Consolidated Net Income for each Fiscal Quarter full fiscal year ending September 20on and after June 30, 2006 and thereafter. In determining 2007 plus (c) an amount equal to 100% of the minimum Consolidated Tangible Net Worth required net proceeds from any equity issued by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedthe Parent.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 158,800,000.00 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20, 2006 from and thereafterincluding the first Fiscal Quarter which ends after the Closing Date to and including the Fiscal Quarter ended immediately prior to the date of such determination. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.035.04, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 1,604,000,000 plus (ii) 50% of the consolidated net income of the Company and its Consolidated Net Income Subsidiaries for each Fiscal Quarter ending September 20ended on or prior to such time and after February 2, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded2008 (if greater than zero).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 875,000,000 plus (ii) for each Fiscal Quarter ended at or prior to such time (but after February 3, 2001), 50% of the consolidated net income of the Company and its Consolidated Net Income Subsidiaries for each such Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded(if greater than zero).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 940,000,000 plus (ii) for each Fiscal Quarter ended at or prior to such time (but after January 30, 1999), 50% of the consolidated net income of the Company and its Consolidated Net Income Subsidiaries for each such Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded(if greater than zero).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 75,000,000 plus (ii) 50% of the cumulative Consolidated Net Income during any period after December 31, 2006 (taken as one accounting period), calculated quarterly at the end of each Fiscal Quarter, but excluding from such calculations of Consolidated Net Income for each purposes of this Section, any Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative in which Consolidated Net Income, computed cumulatively on an annual basis, shall be excludedIncome is negative.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 940,000,000 plus (ii) for each Fiscal Quarter ended at or prior to such time (but after January 30, 1999), 50% of the consolidated net income of the Borrower and its Consolidated Net Income Subsidiaries for each such Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded(if greater than zero).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of than: (a) (i) $130,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20in Fiscal Year 2008, 2006 $152,000,000.00, and thereafter. In determining (ii) for each Fiscal Quarter ending in Fiscal Year 2009 or Fiscal Year 2010, $142,000,000.00; plus (b) 100% of the minimum Consolidated Tangible cumulative Net Worth required by this Section 5.03Proceeds of Capital Stock/Conversion of Debt received during any period after the Fiscal Year ended November 30, any negative Consolidated Net Income2007, computed cumulatively on an annual basis, shall be excludedcalculated quarterly.

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 1,053,000,000 plus (ii) for each Fiscal Quarter ended at or prior to such time (but after February 1, 2004), 50% of the consolidated net income of the Company and its Consolidated Net Income Subsidiaries for each such Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded(if greater than zero).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 828,000,000 plus (ii) for each Fiscal Quarter ended at or prior to such time (but after February 1, 2003), 50% of the consolidated net income of the Company and its Consolidated Net Income Subsidiaries for each such Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded(if greater than zero).

Minimum Consolidated Tangible Net Worth. Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 800,000,000 plus (ii) for each Fiscal Quarter ended at or prior to such time (but after January 25, 1997), 50% of the consolidated net income of the Borrower and its Consolidated Net Income Subsidiaries for each such Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded(if greater than zero).