Common use of Minimum Shareholders’ Equity Clause in Contracts

Minimum Shareholders’ Equity. Commencing with the fiscal quarter in which this Agreement is executed and terminating with the fiscal quarter in which this Agreement terminates, Textron shall make such equity contributions to TFC as may be required to ensure that the consolidated shareholders equity of TFC shall not be less than $200,000,000. Any contributions of equity required by this Agreement shall be made not later than the end of the next fiscal quarter. Such additional equity contributions may be in any form of asset which is eligible for treatment as shareholder equity in accordance with generally accepted accounting principles.

Appears in 4 contracts

Samples: Support Agreement (Textron Inc), Day Credit Agreement (Textron Financial Corp), Credit Agreement (Textron Financial Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.