Minimum Net Worth Requirement. Borrower's failure for any reason to satisfy the Minimum Net Worth Requirement.
Minimum Net Worth Requirement. Borrower agrees to maintain the Minimum Net Worth Requirement at all times during the term of this Agreement.
Minimum Net Worth Requirement. A tangible net worth as determined in accordance with GAAP, without taking into consideration any amounts due Borrower from Guarantor or any other Affiliate of Borrower, of $3,400,000; provided, however, that said amount shall be increased to $20,000,000 upon the conversion of the Subordinated Debt to common stock in Guarantor, as referenced in Section 6.3(e) hereof.
Minimum Net Worth Requirement. The minimum net worth requirement applicable ------------------------------ to Guarantor under the terms of the Guaranty.
Minimum Net Worth Requirement. (i) Five business days prior to the Closing Date, the Seller shall have delivered to Company a consolidated balance sheet for the Seller reflecting the Seller’s good faith estimate of the accounts of the Seller and the Seller Subsidiaries, as applicable, as of the Closing Date (which, for the avoidance of doubt, shall include net income estimated to be earned by the Seller and the Seller Subsidiaries through and including the Closing Date), prepared in conformity with past practices and policies of the Seller and the Seller Subsidiaries, and in accordance with the accounting methodology applied on a basis consistent with the preparation of the Seller Financial Statements, provided, however, that such Seller consolidated balance sheet shall not reflect the payment or accrual of Seller Merger Costs (defined below), nor any gain on the sale of Xxxxx immediately prior to Closing, whether or not Seller’s accounting methodology would require such Seller Merger Costs to be reflected as a reduction of, and such realized gain to be reflected as an increase to, Seller’s shareholders’ equity (the “Closing Balance Sheet”). Further, the Closing Balance Sheet and the Adjusted Net Worth (as defined herein) shall not be required to incorporate any unrealized gains or losses on securities available for sale whether or not Seller’s accounting methodology would require such unrealized gains or losses be reflected in the Closing Balance Sheet, the Adjusted Net Worth or the Minimum Net Worth.
Minimum Net Worth Requirement. In the case of a Purchaser of a general partner interest, as of the date of any Purchase Offer, the Minimum Net Worth Requirement of the Purchaser shall be satisfied if the Purchaser’s net worth is equal to $100,000,000.
Minimum Net Worth Requirement. Equivest's minimum consolidated Tangible Net Worth of not less than $20,000,000, and Equivest's minimum Net Worth of not less than $35,000,000.
Minimum Net Worth Requirement. Guarantor shall maintain a net worth (as reflected on Guarantor’s financial statements) at all times of at least $50,000,000 (the “Minimum Net Worth Requirement”). GUARANTOR ACKNOWLEDGES THAT IT WAS AFFORDED THE OPPORTUNITY TO READ THIS DOCUMENT CAREFULLY AND TO REVIEW IT WITH ANY ATTORNEY OF GUARANTOR’S CHOICE BEFORE SIGNING IT. GUARANTOR ACKNOWLEDGES HAVING READ AND UNDERSTOOD THE MEANING AND EFFECT OF THIS DOCUMENT BEFORE SIGNING IT.
Minimum Net Worth Requirement. Beginning with December 31, 2010, the REIT shall maintain at all times a minimum Consolidated Net Worth of no less than $5,402,933.00, plus seventy-five percent (75%) of net equity raised after such date. For purposes hereof, "net equity" shall mean gross offering proceeds excluding proceeds of shares sold under the DRP program and net of stock issuance costs not to exceed fifteen percent (15%).
Minimum Net Worth Requirement. An aggregate Tangible Net Worth of Borrower and Guarantors on a consolidated basis of at least $35,000,000.
