Minimum Effective Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter of Borrower, Effective Tangible Net Worth of at least Forty One Million Five Hundred Thousand and 00/100 Dollars ($41,500,000.00); provided, however that commencing September 30, 2002, such amount shall increase, on a cumulative basis, by an amount equal to eighty percent (80%) of net income after taxes in the trailing four (4) fiscal quarter period (with no deduction for losses).
Minimum Effective Tangible Net Worth. Maintain a minimum Effective Tangible Net Worth of not less than $23,000.00.
Minimum Effective Tangible Net Worth. Permit as of the end of any fiscal quarter the Effective Tangible Net Worth of the Company and its Subsidiaries on a consolidated basis to be less than $4,900,000.00.
Minimum Effective Tangible Net Worth. A Minimum Effective Tangible Net Worth equal to or greater than Twenty Million Dollars ($20,000,000) at any time during the term of this Agreement, measured at the end of each calendar quarter.
Minimum Effective Tangible Net Worth. A minimum Effective Tangible Net Worth, as hereinafter defined, of at least the amount indicated below as of the last day of each corresponding fiscal quarter. 12/31/08 $ 16,500,000 3/31/09 $ 17,500,000 6/30/09 $ 18,500,000 9/30/09 through 6/30/10 $ 19,500,000 9/30/10 and thereafter $ 21,000,000 Effective Tangible Net Worth means Total Assets minus the sum of (i) Intangible Assets, and (ii) Total Liabilities except Subordinated Debt; Total Assets means total assets determined in accordance with GAAP; Intangible Assets means assets that in accordance with GAAP are properly classifiable as intangible assets including, but not limited to goodwill, franchises, licenses, patents, trademarks, trade names, and copyrights and “soft assets” such as assets due from officers, employees, stockholders, affiliates and related parties.”
Minimum Effective Tangible Net Worth. Borrower shall maintain, on a quarterly basis, minimum Effective Tangible Net Worth of not less than Three Million Five Hundred Thousand and 00/100 Dollars ($3,500,000.00).
Minimum Effective Tangible Net Worth. As of the end of any Fiscal Quarter, commencing with the Fiscal Quarter ending on March 31, 2020, Borrower shall maintain Effective Tangible Net Worth of not less than the $25,000,000.
Minimum Effective Tangible Net Worth. Maintain as at the end of each Fiscal Quarter Consolidated Effective Tangible Net Worth of an amount equal to no less than the sum of (a) $270,000,000 plus (b) an amount equal to 75.0% of the cumulative quarterly net income, exclusive of losses of the Borrower and its Subsidiaries (exclusive of profits from joint ventures of which the Borrower or any of its Subsidiaries is a partner or member) commencing with the Fiscal Quarter beginning July 1, 1997 plus (c) an amount equal to 100.0% of the net proceeds received by the Borrower or its Subsidiaries on or after July 1, 1997 from any issuances of Stock, other equity interests of the Borrower or its Subsidiaries or Subordinated Debt; provided, however, that in the event that, in connection with one or more Acquisitions on or after July 1, 1997 by the Borrower or its Subsidiaries, the Borrower's public accountants determine that previously incurred costs associated with in-process research and development must be written off, the minimum required Consolidated Effective Tangible Net Worth shall be reduced by the amount of such write-offs to the extent that the aggregate amount of all such write-offs in connection with such Acquisitions does not exceed $50,000,000.
