Net Worth Requirement. The CONTRACTOR shall at all times be in compliance with the net worth requirements in the Insurance Code.
Net Worth Requirement. As of the close of business on the last Business Day prior to the Closing Date (the “Landmark Measuring Date”), the Adjusted Landmark Shareholders’ Equity shall not be less than $58,000,000, as determined in accordance with GAAP. For purposes of this Section 9.2(d), “Adjusted Landmark Shareholders’ Equity” means the consolidated equity of Landmark as set forth on the balance sheet of Landmark on the Landmark Measuring Date (excluding any Conforming Adjustments), minus any unrealized gains or plus any unrealized losses (as the case may be) in Landmark’s securities portfolio due to xxxx-to-market adjustments as of the Landmark Measuring Date and after adding the sum of (i) all fees and expenses of all attorneys, accountants, the Landmark Financial Advisor and other advisors and agents for Landmark and its Subsidiaries for services rendered solely in connection with the transactions contemplated by this Agreement and that do not exceed in the aggregate $1,850,000 (exclusive of reasonable costs paid to or advanced by such advisors), (ii) the payments, if any, made at the request of NCC by Landmark pursuant to the Employment Agreement Termination Letters, (iii) the premiums, if any, paid by Landmark for the D&O Insurance in accordance with Section 8.13(c), and (iv) any other amounts requested by NCC in writing to be expensed by Landmark prior to the Landmark Measuring Date.
Net Worth Requirement. As of the end of each fiscal quarter of CCPT III commencing with the fiscal quarter ending September 30, 2009, Total Stockholders Equity plus Redeemable Common Stock as reported on its 10-K or 10-Q SEC filings shall not be less than $307,000,000 plus 75% of the Net Equity Contributions or sales of treasury stock received by CCPT III after June 30, 2009.
Net Worth Requirement. Mxxxxx Investors, Inc. hereby represents and warrants to Purchaser that it has, and for a period of three (3) years after the Closing it shall maintain, a net worth of at least Eight Million ($8,000,000) Dollars.
Net Worth Requirement. The Borrower shall maintain a Net Worth of not less than THIRTY-SEVEN MILLION DOLLARS ($37,000,000.00) by the end of the 1998 fiscal year. The Tangible Net Worth must not be less than a negative ($3,000,000) at the end of the 1998 fiscal year end and a negative ($3,000,000) plus 25% of the net income at the end of the 1999 fiscal year and all subsequent years and at all times thereafter.
Net Worth Requirement. The Net Worth of the Borrower shall be --------------------- at least the amount set forth opposite each period during which the requested Loans are to be made: Period Required Net Worth ------ ------------------ Closing Date - 12/30/98 $30,000,000 12/31/98 - 12/30/99 $33,000,000 12/31/99 - 12/30/00 $36,000,000 12/31/00 and thereafter $39,000,000 Each Borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date of such Borrowing that the conditions contained in this Section 4.2 have been satisfied.
Net Worth Requirement. The Guarantor shall maintain a Net Worth of not less than TWENTY-FOUR MILLION DOLLARS ($24,000,000.00) by the end of the 1998 fiscal year. The Tangible Net Worth must not be less than a negative ($11,000,000) at the end of the 1998 fiscal year end and a negative ($11,000,000) plus 25% of the net income at the end of the 1999 fiscal year and all subsequent years and at all times thereafter.
Net Worth Requirement. Consolidated Net Worth at any time to be less than the greater of (i) $250,000,000 or (ii) an amount equal to 65% of Consolidated Net Worth as of the end of the fiscal year of the Company most recently ended prior to the date of determination of compliance with this paragraph 6A(2);
Net Worth Requirement. Guarantor's Net Worth at all times shall be not less than One Hundred Fifty Million Dollars ($150,000,000.00)."
Net Worth Requirement. Guarantor shall maintain as of the last day of each calendar quarter a Net Worth of not less than $275,000,000; provided that, the failure to maintain such Net Worth shall not constitute an Event of Default if (1) Guarantor’s Net Worth at all times remains at least $100,000,000 and (2) Guarantor has paid to Landlord any required Net Worth Deposits in accordance with the terms hereof. All determinations of Net Worth in this Section 16 shall be made based on the Net Worth Report (as defined below). If the Guarantor’s Net Worth is ever below $275,000,000 (as reflected on any Net Worth Report), then Guarantor shall be required to deposit (such deposit, the “Net Worth Deposit”) with Landlord, within five (5) Business Days following the determination thereof, an amount (the “Required Net Worth Deposit Amount”) equal to (i) the product of (x) the monthly amount of Fixed Rent then due under the Grand Court Leases, plus the monthly Base Rent (as defined in the Leases other than the Grand Court Leases) then due under the Leases other than the Grand Court Leases (collectively, the “Lease Rent”) and (y) the applicable number of months (the “Rent Multiplier”) set forth in the chart below that corresponds to such Net Worth of Guarantor: Net Worth ($): Number of Months: If less than 275,000,000, but equal to or greater than 250,000,000 3.0 If less than 250,000,000, but equal to or greater than 200,000,000 6.0 If less than 200,000,000, but equal to or greater than 150,000,000 9.0 If less than 150,000,000, but equal to or greater than 100,000,000 12.0
