Common use of Tangible Net Worth Covenant Clause in Contracts

Tangible Net Worth Covenant. Section 8.2 of the Credit Agreement is hereby amended and restated in its entirety as of the date hereof as follows: "Permit Tangible Net Worth as of the last day of any fiscal quarter to be less than the sum of $25,000,000 ($30,000,000 for the fiscal quarter ended June 30, 2003 and each fiscal quarter thereafter), plus 50% of Borrowers' cumulative Net Income from January 1, 1999 calculated for each succeeding fiscal quarter through the last day of such fiscal quarter.

Tangible Net Worth Covenant. Section 8.2 of the Credit Loan Agreement is hereby amended and restated in its entirety as of the date hereof as follows: "Permit Tangible Net Worth as of the last day of any fiscal quarter to be less than the sum of $25,000,000 ($30,000,000 for the fiscal quarter ended June 30, 2003 and each fiscal quarter thereafter), plus 50% of Borrowers' cumulative Net Income from January 1, 1999 calculated for each succeeding fiscal quarter through the last day of such fiscal quarter.