Common use of Minimum Net Worth Clause in Contracts

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not will at no time be less than an amount equal to the sum of (ia) $176,177,600 1,236,000,000 plus (iib) 50% of Consolidated Net Income earned in for each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower ending after December 30, 1998 and its Subsidiaries at any or prior to such time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement(but only if such Consolidated Net Income for such fiscal quarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 900,000,000 plus (ii) 50% of Consolidated Net Income earned in each the fiscal quarter beginning with the quarter ending September 30December 31, 2000 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreementfiscal year ending December 31, 2003 (without deduction for losses).

Minimum Net Worth. The Borrower will shall not permit, at all times maintain any time the Consolidated Net Worth of not to be an amount less than the sum of (i) an amount equal to $176,177,600 790,983,900 plus (ii) 50% of Consolidated Net Income earned in for each fiscal quarter (beginning with the first full fiscal quarter ending September 30, 2000 (without deduction after the Closing Date) for losses) which Consolidated Net Income is a positive amount plus (iii) the amount of any addition to the consolidated shareholders' equity 50% of the Borrower and its Subsidiaries at any time resulting net cash proceeds from the issuance or sale equity issuances of any capital stock or other equity interests by the Borrower after the date of this AgreementClosing Date.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 21,490,560, plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30December 31, 2000 1998 (without deduction for losses) ), plus (iii) 100% of the amount net cash proceeds of any addition to the consolidated shareholders' equity offering of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower securities after the date of this AgreementAgreement (whether debt or equity and whether public or private).

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $176,177,600 5,320,141,850 plus (ii) 50% of the cumulative Consolidated Net Income earned in each fiscal quarter beginning thereafter (if positive) commencing with the fiscal quarter ending September on June 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2017.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 155,000,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September June 30, 2000 2002 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 60,000,000 plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September April 30, 2000 1999 (without deduction for losses) ), and plus (iii) 100% of the amount of net proceeds from any addition to the consolidated shareholders' equity offering of the Borrower and or any of its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this AgreementSubsidiaries." (d) Section 6.23.4 is hereby amended to read in its entirety as follows:

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $176,177,600 2,035,568,250 plus (ii) 50% of the cumulative Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending thereafter (if positive) commencing on September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2010.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 90,000,000.00 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 2003 (without deduction for losses) plus (iii) the amount 100% of all net proceeds of any addition to the consolidated shareholders' equity issuance of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date deduction of this Agreementany fees, commissions, expenses and other costs incurred in such offering.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 295,000,000, plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending September 30May 26, 2000 2001 (without deduction for losses) ), and plus (iii) 90% of the amount Net Cash Proceeds of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower offering consummated after the date last day of this Agreementfiscal year 2000.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth (plus fifty percent 50% of quarterly positive net income on a cumulative basis) of not less than the sum of (i) $176,177,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement60,000,000.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the he sum of (i) $176,177,600 75% of Consolidated Net Worth at December 31, 2010 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter if positive beginning with the quarter ending September 30March 31, 2000 (without deduction for losses) 2011 plus (iii) the amount of any addition to the consolidated shareholders' equity 100% of the Borrower and its Subsidiaries at any time net cash proceeds resulting from the issuance or sale of any capital stock or other equity interests by of the Borrower after the date of this AgreementBorrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 200,000,000.00, plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30March 31, 2000 2008 (without deduction for losses) ), plus (iii) the amount 100% of all net proceeds of any addition to the consolidated shareholders' equity issuance of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date deduction of this Agreementany fees, commissions, expenses and other costs incurred in such offering.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 45,000,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30December 31, 2000 1998 (without deduction for losses)." (b) plus (iii) the amount of any addition to the consolidated shareholders' equity Section 6.16 of the Borrower Credit Agreement shall be amended in its entirety and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.as so amended to read as follows:

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not will at no time be less than an amount equal to the sum of (ia) $176,177,600 1,236,000,000 plus (iib) 50% of Consolidated Net Income earned in for each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower ending after the date of this AgreementDecember 30, 1998 (but only if such Consolidated Net Income for such fiscal quarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 294,945,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30December 31, 2000 2004 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 188,784,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 2001 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

Minimum Net Worth. The Borrower will Borrowers and their Subsidiaries on a consolidated basis shall maintain at all times maintain Consolidated Net Worth of not less equal to or greater than the sum of (ia) $176,177,600 17,000,000, plus (iib) an amount equal to 50% of Consolidated Net Income earned in during each fiscal quarter of its Fiscal Quarters beginning with the quarter ending September 30its Fiscal Quarter commencing October 1, 2000 1997 (without deduction reduction for net losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement, if any).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 180,000,000 plus (ii) 50% of Consolidated Net Income (if positive) earned in each fiscal quarter beginning with the fiscal quarter ending September 30March 31, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2002.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (ia) $176,177,600 17,500,000, plus (iib) 50% of positive Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30on or after January 1, 2000 (without deduction for losses) plus 2011. and (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.adding Section 6.24.5 as follows:

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $176,177,600 5,320,141,8505,586,992,000 plus (ii) 50% of the cumulative Consolidated Net Income earned in each fiscal quarter beginning thereafter (if positive) commencing with the fiscal quarter ending September on June 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement20172022.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth of not less than the sum of in an amount equal to (ia) $176,177,600 45,000,000, plus (iib) 5075% of Consolidated cumulative Net Income, if positive for any fiscal quarter (i.e., exclusive of any negative Net Income earned in each for any fiscal quarter), for any fiscal quarter beginning with the quarter ending September 30commencing on and after May 1, 2000 (without deduction for losses) 2003, plus (iiic) the amount all Net Proceeds of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance each Equity Issuance which occurs on or sale of any capital stock or other equity interests by the Borrower after the date of this AgreementJanuary 1, 2003.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 160,000,000 plus (ii) 50% of Consolidated Net Income (if positive) earned in each fiscal quarter Fiscal Quarter beginning with the quarter Fiscal Quarter ending September 30December 31, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2003.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 116,401,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30December 31, 2000 2001 (without deduction for losses) ), plus (iii) 75% of the amount net proceeds of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests issuances by the Borrower after received in each fiscal quarter beginning with the date of this Agreementquarter ending December 31, 2001.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 325,069,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September June 30, 2000 2004 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement).

Minimum Net Worth. The Borrower will at all times maintain not permit or suffer Consolidated Net Worth of not to be less than (i) at any time on or prior to December 31, 2006, $950,000,000 or (ii) at any time after December 31, 2006, the sum of (ia) $176,177,600 900,000,000 plus (iib) 50% of Consolidated Net Income earned in the two consecutive fiscal quarters ending December 31, 2004 (without deduction for losses) plus (c) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter year ending September 30on or after December 31, 2000 2005 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement).

Minimum Net Worth. The Borrower will Maintain at all times maintain Consolidated on a consolidated basis a minimum Net Worth of not less than the sum of (i) $176,177,600 25,000,000.00 plus (ii) 5075% of Consolidated Net Income earned in each the Borrower's cumulative positive quarterly net income commencing with the fiscal quarter beginning with the quarter ending ended September 30, 2000 (without deduction 1998, with no deductions for quarterly losses) , plus (iii) 100% of the amount net proceeds of any addition to other increase in the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this AgreementBorrower.

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $176,177,600 4,223,942,000 plus (ii) 50% of the cumulative Consolidated Net Income earned in each fiscal quarter beginning thereafter (if positive) commencing with the fiscal quarter ending on September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2013.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 145,000,000, plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending September 30on March 31, 2000 2004 (without deduction for losses) ), plus (iii) the amount 75% of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests Net Cash Proceeds received by the Borrower after the date of this Agreementor any Subsidiary.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 900,000,000 plus (ii) 50% of Consolidated Net Income earned in each the two consecutive fiscal quarter beginning with the quarter quarters ending September 30December 31, 2000 2004 (without deduction for losses) plus (iii) the amount 50% of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance Consolidated Net Income earned in each fiscal year ending on or sale of any capital stock or other equity interests by the Borrower after the date of this AgreementDecember 31, 2005 (without deduction for losses).

Minimum Net Worth. The Borrower will shall at all times maintain Consolidated Net Worth of in an amount not less than the sum of (i) $176,177,600 43,500,000 plus (ii) 50% of Consolidated the Borrower’s Net Income earned in (but without deducting for losses) for each fiscal quarter beginning commencing with the fiscal quarter ending September 30December 31, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2004.

Minimum Net Worth. The Borrower will shall maintain at all times maintain Consolidated Net Worth of not less than the sum of (ia) $176,177,600 185,000,000 plus (iib) 50% the aggregate sum of Consolidated the Fiscal Quarter Net Income earned in Worth Increase Amounts calculated for each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower Consolidated Entities ending after the date of this AgreementDecember 31, 1996.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 575,000,000 plus (ii) 50% of Consolidated Net Income (if positive) earned in each fiscal quarter Fiscal Quarter beginning with the quarter Fiscal Quarter ending September 30December 31, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement2003.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 409,000,000, plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September June 30, 2000 2005 (without deduction for losses) ), plus (iii) 50% of the amount of any addition to the consolidated shareholders' stockholders’ equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests Equity Interests by the Borrower after the date of this AgreementMarch 31, 2005.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 17,000,000 plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.January

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not the Borrower will at no time be less than an amount equal to the sum of (ia) $176,177,600 1,700,000,000 plus (iib) 50% of Consolidated Net Income earned in for each fiscal quarter beginning with of the quarter Borrower ending on or after September 30, 2000 2002 (without deduction but only if such consolidated Net Income for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreementsuch fiscal quarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 160,000,000, plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter year beginning with the quarter year ending September 30December 31, 2000 2006 (without deduction for losses) ), plus (iii) the amount 75% of net proceeds from any addition to the consolidated shareholders' equity sale of capital stock of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this AgreementBorrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 358,875,000, plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 2003 (without deduction for losses) ), plus (iii) 50% of the amount of any addition to the consolidated shareholdersstockholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests Equity Interests by the Borrower after the date of this AgreementJune 30, 2003.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (ia) $176,177,600 20,000,000, plus (iib) 50% of positive Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance on or sale of any capital stock or other equity interests by the Borrower after the date of this Agreementdetermination.

Minimum Net Worth. The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $176,177,600 7,000,000 plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September June 30, 2000 (without deduction for losses) ), plus (iii) 100% of the amount net proceeds of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests offering by the Borrower after of equity securities of the date of this AgreementBorrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not the Borrower will at no time be less than an amount equal to the sum of (ia) $176,177,600 1,700,000,000 plus (iib) 50% of Consolidated Net Income earned in for each fiscal quarter beginning with of the quarter Borrower ending on or after September 30, 2000 2002 (without deduction but only if such Consolidated Net Income for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreementsuch fiscal quarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $176,177,600 265,000,000 plus (ii) fifty percent (50% %) of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30December 31, 2000 1997 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not will at no time be less than an amount equal to the sum of (ia) $176,177,600 1,236,000,000 plus (iib) 50% of Consolidated Net Income earned in for each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower ending after the date of this AgreementDecember 30, 1999 (but only if such Consolidated Net Income for such fiscal quarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 185,000,000 plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30December 31, 2000 1999 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholdersstockholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests Equity Interests by the Borrower after the date of this Agreement.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 85% of Consolidated Net Worth as of March 31, 2001 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September June 30, 2000 2001 (without deduction for losses) plus (iii) the amount 75% of any addition to the consolidated shareholders' equity Net Proceeds of Equity Interests of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreementfor such period.