Minimum REIT Net Worth Sample Clauses

Minimum REIT Net Worth. At all times, the REIT will be required to maintain a minimum REIT Net Worth of not less than the sum of (i) $1,400,771 (which represents ninety percent (90%) of the REIT Net Worth as of the date of this Guaranty), plus (ii) ninety percent (90%) of the total of all Net Proceeds received by the REIT from Equity Issuances after the date of this Guaranty. This covenant will be tested at the end of each fiscal quarter.
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Related to Minimum REIT Net Worth

  • Minimum Net Worth Consolidated Net Worth will at no time be less than an amount equal to the sum of (a) $1,236,000,000 plus (b) 50% of Consolidated Net Income for each fiscal quarter of the Borrower ending after December 30, 1998 and at or prior to such time (but only if such Consolidated Net Income for such fiscal quarter is a positive amount).

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) $731,508,263 plus (ii) 75% of the Net Proceeds of all Equity Issuances effected at any time after the Agreement by the Parent, the Borrower or any of the Subsidiaries of the Parent to any Person other than the Parent, the Borrower or any of the Subsidiaries of the Parent.

  • Net Worth The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person’s primary home).

  • Minimum Consolidated Net Worth Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.