{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "the-company-and-its-subsidiaries", "type": "clause", "offset": [0, 32]}, {"key": "consolidated-tangible-capital", "type": "definition", "offset": [76, 105]}, {"key": "commencing-with-the", "type": "clause", "offset": [180, 199]}, {"key": "fiscal-quarter-ending", "type": "definition", "offset": [200, 221]}, {"key": "sum-of", "type": "clause", "offset": [296, 302]}, {"key": "cumulative-basis", "type": "clause", "offset": [334, 350]}, {"key": "consolidated-net-income", "type": "definition", "offset": [368, 391]}, {"key": "after-march", "type": "clause", "offset": [454, 465]}], "size": 9, "snippet": "The Company and its subsidiaries shall not (x) as of March 31, 2003, have a consolidated Tangible Capital Base of less than ($1,050,000) or (y) as of the end of any fiscal quarter commencing with the fiscal quarter ending June 30, 2003, have a consolidated Tangible Capital Base of less than the sum of (A) ($1,050,000) 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757]}], "size": 3, "snippet": "The Credit Parties shall not permit the Tangible Capital Base as of (i) the end of each fiscal quarter ending during the period commencing on the Restatement Date and ending on September 30, 2008 to be less than $15,000,000, (ii) the end of each fiscal quarter ending during the period commencing on October 1, 2008 and ending on December 31, 2008 to be less than $20,000,000, and (iii) the end of each fiscal quarter thereafter, to be less than the minimum Tangible Capital Base required to be satisfied by the Core Ameresco Companies as of the last day of the fiscal year most recently ended plus 25% of the net income (without reduction for losses) of the Core Ameresco Companies (determined on a consolidated basis without duplication in accordance with GAAP) for the fiscal year most recently ended.", "samples": [{"hash": "a7WKrtAXL3U", "uri": "/contracts/a7WKrtAXL3U#tangible-capital-base", "label": "Credit and Security Agreement (Ameresco, Inc.)", "score": 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Term - as defined in Section 4.1 of the Agreement. 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(b) $13,250,000 at September 30, 1999; (c) $13,500,000 at December 31, 1999; (d) $13,750,000 at March 31, 2000; (e) $14,000,000 at June 30, 2000; and (f) $250,000 plus the amount of the immediately preceding Threshold Amount at the end of each subsequent fiscal quarter thereafter.", "samples": [{"hash": "gr2PFfu6WLJ", "uri": "/contracts/gr2PFfu6WLJ#tangible-capital-base", "label": "Credit Agreement (Foilmark Inc)", "score": 18.0, "published": true}], "hash": "7ec2c3c3f293b13db6b82ad2fc147068", "id": 8}, {"snippet_links": [{"key": "parent-guarantor", "type": "definition", "offset": [0, 16]}, {"key": "each-year", "type": "definition", "offset": [140, 149]}, {"key": "equal-to", "type": "definition", "offset": [191, 199]}, {"key": "fifty-percent", "type": "definition", "offset": [200, 213]}, {"key": "positive-net-income", "type": "clause", "offset": [223, 242]}, {"key": "fiscal-year", "type": "definition", "offset": [260, 271]}], "size": 2, "snippet": "Parent Guarantor shall maintain a Tangible Capital Base of not less than $28,000,000, such amount to be increased annually on January 31 of each year commencing January 31, 2007 by an amount equal to fifty percent (50%) of positive net income, if any, for the Fiscal Year then ended, measured quarterly.", "samples": [{"hash": "9pzHtRC2gKB", "uri": "/contracts/9pzHtRC2gKB#tangible-capital-base", "label": "Loan and Security Agreement (First Aviation Services Inc)", "score": 18.0, "published": true}], "hash": "4f9c2e4c943c552975af14f375c71a07", "id": 9}, {"snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [4, 17]}, {"key": "the-excess", "type": "clause", "offset": [56, 66]}, {"key": "intangible-assets", "type": "clause", "offset": [92, 109]}, {"key": "subordinated-debt", "type": "definition", "offset": [116, 133]}, {"key": "without-limitation", "type": "clause", "offset": [151, 169]}, {"key": "the-subordination-agreements", "type": "clause", "offset": [201, 229]}, {"key": "consolidated-basis", "type": "clause", "offset": [259, 277]}, {"key": "applicable-measurement-date", "type": "definition", "offset": [335, 362]}, {"key": "minimum-tangible", "type": "clause", "offset": [391, 407]}, {"key": "base-amount", "type": "definition", "offset": [602, 613]}], "size": 1, "snippet": "The Borrower will not permit its Tangible Capital Base (the excess of its assets, excluding intangible assets, plus subordinated debt (which includes, without limitation, debt subordinated pursuant to the Subordination Agreements), over its liabilities, on a consolidated basis) to be less than the amount set forth below opposite the applicable measurement date set forth below: Applicable Minimum Tangible Measurement Date Capital Base ---------------- ------------ December 31, 2000 $4,000,000 December 31, 2001 $4,500,000 December 31, 2002 and each Required Tangible Capital December 31 thereafter Base Amount", "samples": [{"hash": "5n8tYeymaLB", "uri": "/contracts/5n8tYeymaLB#tangible-capital-base", "label": "Credit Agreement (Poore Brothers Inc)", "score": 18.0, "published": true}], "hash": "741ef4b3005a3b51a0fcc705b30c3e30", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih50YW5naWJsZS1jYXBpdGFsLWJhc2UjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["amendments", "Amendments"], ["financial-covenants", "FINANCIAL COVENANTS"], ["certain-financial-covenants", "Certain Financial Covenants"], ["negative-covenants", "NEGATIVE COVENANTS"], ["amendment-to-section-8", "Amendment to Section 8"]], "size": 48, "title": "Tangible Capital Base", "children": [], "id": "tangible-capital-base", "related": [["adjusted-tangible-net-worth", "Adjusted Tangible Net Worth", "Adjusted Tangible Net Worth"], ["consolidated-tangible-net-worth", "Consolidated Tangible Net Worth", "Consolidated Tangible Net Worth"], ["minimum-tangible-net-worth", "Minimum Tangible Net Worth", "Minimum Tangible Net Worth"], ["minimum-consolidated-tangible-net-worth", "Minimum Consolidated Tangible Net Worth", "Minimum Consolidated Tangible Net Worth"], ["net-tangible-assets", "Net Tangible Assets", "Net Tangible Assets"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Tangible Capital Base clause defines the minimum amount of physical, non-intangible assets that a party, typically a financial institution or borrower, must maintain. This clause usually specifies which assets qualify as 'tangible'\u2014such as cash, equipment, and real estate\u2014while excluding items like goodwill or intellectual property. By setting a clear standard for asset backing, the clause ensures financial stability and reduces risk for counterparties by requiring a solid foundation of real, measurable assets."}, "json": true, "cursor": ""}}