Minimum Tangible. Net Worth The Guarantor shall maintain a Consolidated Tangible Net Worth of not less than $500,000,000 plus (a) 25% of the Guarantor's cumulative, positive consolidated net income for each fiscal quarter commencing on or after 31 December 2013 and (b) 50% of the value of the equity proceeds realized from any issuance of equity interests in the Guarantor occurring on or after 31 December 2013.
Minimum Tangible. Net Worth . The Borrower shall not permit Tangible Net Worth to be less than (i) $700,000,000 for the fiscal quarter ended November 27, 2021, plus (ii) for each fiscal quarter ending thereafter, 50% of Net Income for such fiscal quarter (if Net Income is positive) less Restricted Payments permitted to be made pursuant to Section 8.12 during such fiscal quarter. S ECTION
Minimum Tangible. Net Worth: Borrower shall maintain a Tangible Net Worth of not less than the following: (i) the TNW Base Amount; plus (ii) the TNW Capital Increase (if any) For purposes of this Tangible Net Worth covenant: The term “
Minimum Tangible. Net Worth: Borrower shall maintain a Tangible Net Worth of not less than $3,500,000 plus 100% of all consideration received after the date hereof for equity securities and subordinated debt of the Borrower less the current principal amount outstanding of Term Loan #2. Increases in the Minimum Tangible Net Worth Covenant based on consideration received for equity securities and subordinated debt of the Borrower shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter.
Minimum Tangible. Net Worth -------------------------------------------- The Borrower shall not permit the Tangible Net Worth at any time to be less than the sum of (a) $333,800,000, plus (b) 50% of cumulative Net Income for the period from, but not including, June 15, 1999 through the date of calculation (but excluding from the calculation of such cumulative Net Income the effect, if any, of any Fiscal Quarter (or portion of a Fiscal Quarter not then ended) of the Borrower for which Net Income was a negative number), plus (c) an amount equal to 100% of the tangible net worth of any Person that becomes a Subsidiary of the Borrower or is merged into or consolidated with the Borrower or any Subsidiary of the Borrower or substantially all of the assets of which are acquired by the Borrower or any Subsidiary of the Borrower to the extent the purchase price paid therefor is paid in equity securities of the Borrower or any Subsidiary of the Borrower or pursuant to the conversion or exchange of any convertible subordinated debt or redeemable preferred stock into Capital Stock of the Borrower or any of its Subsidiaries, plus (d) 75% of the Net Cash Proceeds (but without duplication) of any offerings of Capital Stock of the Borrower or any of its Subsidiaries, plus (e) 100% of any reclassification of redemption value of common Capital Stock to Net Worth.
Minimum Tangible. Net Worth: Borrower shall maintain a Tangible Net Worth of not less than the following: For the month ending June 30, 2004: <$2,500,000>; For each of the months ending July 31, 2004, August 31, 2004 and September 30, 2004: <$3,500,000>; For each of the months ending October 31, 2004, November 30, 2004 and December 31, 2004: <$4,250,000>; and For each month ending thereafter: <$5,500,000>.
Minimum Tangible. Net Worth: Borrower shall maintain a Tangible Net Worth of not less than $40,000,000 plus (i) 60% of all consideration received after the date hereof for equity securities and subordinated debt of the Borrower, plus (ii) 50% of the Borrower’s net income in each fiscal quarter ending on or after September 30, 2005. Increases in the Minimum Tangible Net Worth Covenant based on consideration received for equity securities and subordinated debt of the Borrower shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter. Increases in the Minimum Tangible Net Worth Covenant based on net income shall be effective on the last day of the fiscal quarter in which said net income is realized, and shall continue effective thereafter. In no event shall the Minimum Tangible Net Worth Covenant be decreased.
Minimum Tangible. Effective Net Worth of $3,000,000 at closing, increasing to $5,000,000 at October 31, 2000 and thereafter, tested quarterly.
Minimum Tangible. Net Worth: Borrower shall maintain a Tangible Net Worth of not less than the following (unless reset as provided for below): For each month ending after on or after June 30, 2005 through the month ending August 31, 2005: the TNW Base Amount (as defined below) plus 50% of the Borrower’s net income in each fiscal quarter ending on or after June 30, 2005. Increases in the Minimum Tangible Net Worth Covenant based on net income shall be effective on the last day of the fiscal quarter in which said net income is realized, and shall continue effective thereafter. In no event shall the Minimum Tangible Net Worth Covenant be decreased.
Minimum Tangible. Net Worth: Borrower shall maintain a Tangible Net Worth of not less than $9,000,000.
