Common use of Tangible Net Worth Clause in Contracts

Tangible Net Worth. The Borrower will not permit Tangible Net Worth at any time to be less than $113,000,000 plus the sum of (i) 75% of positive Net Income in each fiscal quarter commencing with the fiscal quarter ended September 30, 2002 and (ii) 75% of the Net Proceeds from the issuance and sale of equity securities after the date hereof.

Tangible Net Worth. The Borrower will not permit its Tangible Net Worth at the end of any time to be less than $113,000,000 plus the sum of (i) 75% of positive Net Income in each fiscal quarter of the Borrower (commencing with the fiscal quarter ended ending September 30, 2002 2004) to be less than the sum of (a) $45,000,000, and (iib) 75% fifty percent (50%) of the Net Proceeds from the issuance and sale gross proceeds of equity securities all Equity Issuances occurring after the date hereofof this Agreement (other than the Equity Issuances in connection with the initial public offering of the Common Units occurring concurrent with the making of the initial Advances hereunder).

Tangible Net Worth. The Borrower will not permit allow the Consolidated Tangible Net Worth at any time to be less than $113,000,000 119,883,000 plus the sum seventy-five percent (75%) of (i) 75% of positive Borrower's Consolidated Net Income in Income, if positive, for each fiscal quarter commencing with ending after December 31, 1996, tested at the end of each fiscal quarter ended September 30, 2002 and (ii) 75% of the Net Proceeds from the issuance and sale of equity securities after the date hereofquarter.

Tangible Net Worth. The Borrower will not permit at any time its Tangible Net Worth at any time to be less than $113,000,000 600,000,000 plus the sum of (i) 7550% of positive its cumulative Consolidated Net Income in each fiscal quarter commencing with Income, if positive, for the fiscal quarter ended September 30period from April 1, 2002 and 1998 through the date of calculation, plus (ii) 75100% of any equity issued by the Net Proceeds from the issuance and sale of equity securities Borrower after the date hereofof this Agreement.

Tangible Net Worth. The Borrower will not permit permit, as at the end of each fiscal quarter, Tangible Net Worth at any time to be less than $113,000,000 plus the sum of $28,500,000 plus, on a cumulative basis, fifty percent (i50%) 75% of positive Net Income in for each fiscal quarter commencing with the fiscal quarter ended September 30ending March 31, 2002 and (ii) 75% of the Net Proceeds from the issuance and sale of equity securities after the date hereof1994.

Tangible Net Worth. The Borrower will not permit its ------------------ Tangible Net Worth at any time to be less than $113,000,000 50,000,000, plus the sum 50% of (i) positive Consolidated Net Income realized after April 30, 2000, plus 75% of positive Net Income in each fiscal quarter commencing with the fiscal quarter ended September 30, 2002 and (ii) 75% of the Net Proceeds net proceeds realized from the issuance and sale of equity securities after the date hereofany non-redeemable preferred or common stock offerings.

Tangible Net Worth. The Borrower will not permit Tangible Net Worth at any time to be less than $113,000,000 (i) 90% of the Tangible Net Worth on the Effective Date after giving affect to the Transaction plus (ii) 50% of the sum of (i) 75% of positive Net Income in net income for each fiscal quarter commencing beginning with the fiscal first quarter ended September 30, 2002 and after the Effective Date (iiwithout reduction for losses) 75% plus (iii) the amount of the Net Cash Proceeds from issuances of Equity Interests that the issuance and sale of equity securities after the date hereofBorrower is entitled to keep pursuant to Section 2.06 (b)(iii).

Tangible Net Worth. The Borrower will not permit Tangible Net Worth at any time on or after January 1, 2004 to be less than $113,000,000 (i) 90% of the Tangible Net Worth on September 30, 2001 plus (ii) 50% of the sum of (i) 75% of positive Consolidated Net Income in of the Borrower and its Restricted Subsidiaries for each fiscal quarter commencing beginning with the fiscal first quarter ended after September 30, 2002 and 2001 (iiwithout reduction for losses) 75% plus (iii) the amount of the Net Cash Proceeds from issuances of Equity Interests received by the issuance and sale of equity securities after the date hereofBorrower since September 30, 2001.

Tangible Net Worth. The (i) As of December 31, 2001, Borrower will not permit Tangible Net Worth at any time to be less than $113,000,000 plus 1,842,000.00. (ii) As of the sum end of (i) 75% of positive Net Income in each fiscal quarter commencing with ending from and after March 31, 2002, Borrower will not permit Tangible Net Worth to be less than Tangible Net Worth as of the end of the previous fiscal quarter or year plus 40% of net profit earned during the fiscal quarter ended September 30, 2002 and (ii) 75% of the Net Proceeds from the issuance and sale of equity securities after the date hereofthen ending.

Tangible Net Worth. The Borrower will not at any time permit its Tangible Net Worth at any time to be less than $113,000,000 400,000,000, plus 50% of the proceeds received from equity offerings after the Closing Date, plus 50% of the sum of (i) 75% of positive Net Income in the Borrower's and its Subsidiaries' consolidated net income for each fiscal quarter commencing for which consolidated net income is greater than $0 beginning with the fiscal quarter ended September 30ending December 31, 2002 and (ii) 75% of the Net Proceeds from the issuance and sale of equity securities after the date hereof1997.

Tangible Net Worth. The Borrower will not permit its Tangible Net Worth to be less at any time than an amount equal to be less than $113,000,000 plus the sum of (i) 75% of positive Net Income in each fiscal quarter commencing with the fiscal quarter ended September 30$60,000,000, 2002 and plus (ii) 75% of Net Income (but not any net loss) generated by the Net Proceeds from Borrower and its Consolidated Subsidiaries during the period commencing on December 31, 1996 through the date of determination, plus (iii) 75% of the net cash proceeds of any issuance and sale of equity securities after the date hereofor securities converted into equity.

Tangible Net Worth. The Borrower will shall not permit as of the last day of any fiscal quarter on a consolidated basis its Tangible Net Worth at any time to be less than $113,000,000 70,000,000 plus the sum of (i) 75% of positive Net Income net income after income taxes (without subtracting losses) earned in each fiscal quarter quarterly accounting period commencing with the fiscal quarter ended after September 30, 2002 and 1997, plus (ii) 75the net proceeds from any equity securities issued after September 30, 1997, less (iii) 100% of the Net Proceeds from the issuance and sale of equity securities capital stock repurchases after the date hereof.September 30, 1997, where:

Tangible Net Worth. The Borrower will not permit its Tangible Net Worth at any time to be less than $113,000,000 145,000,000, plus the sum of (i) 75% of positive Net Income from Continuing Operations in each fiscal quarter commencing with the fiscal quarter ended September June 30, 2002 and 2009, plus (ii) 75% of the Net Proceeds from the issuance and sale by the Borrower of equity securities any Equity Interests after the date hereof.Effective Date, minus (iii) loss from Discontinued Operations commencing with the fiscal quarter ending June 30, 2009. For purposes of this Section 6.4:

Tangible Net Worth. The Borrower will not permit permit, at any time, its Tangible Net Worth at any time to be less than $113,000,000 eighty-five percent (85%) of Tangible Net Worth as of March 31, 2004, plus the sum of fifty percent (i50%) 75% of positive Net Income in each fiscal quarter commencing with the fiscal quarter ended September 30net income after tax distributions, 2002 and plus one hundred percent (ii100%) 75% of the Net Proceeds from the issuance and sale of equity securities offerings after the date hereofMarch 31, 2004 excluding any asset impairment charges.

Tangible Net Worth. The Borrower will shall not permit at any time on a consolidated basis its Tangible Net Worth at any time to be less than $113,000,000 90% of its Tangible Net Worth as of December 31, 1996 plus the sum of (i) 75% of positive Net Income net income after income taxes (without subtracting losses) earned in each fiscal quarter quarterly accounting period commencing with the fiscal quarter ended September 30after December 31, 2002 and 1996, (ii) 75% of the Net Proceeds net proceeds from any equity securities issued after December 31, 1996, and (iii) any increase in stockholders' equity resulting from the issuance and sale conversion of debt securities to equity securities after the date hereofDecember 31, 1996.

Tangible Net Worth. The Borrower Borrowers will not permit Tangible Net Worth at the end of any time fiscal quarter to be less than $113,000,000 75,000,000 plus the sum of (ia) 7550% of positive Net Income in for each fiscal quarter commencing with the fiscal quarter ended September after April 30, 2002 1997 (with no offset or reduction for Net Losses) and (iib) 7550% of the Net Proceeds any increase in stockholders' equity resulting from the issuance and sale of equity securities any shares of capital stock of any Borrower or any of its Subsidiaries after the date hereofApril 30, 1997.

Tangible Net Worth. The Borrower will not permit its Tangible Net Worth at any time to be less than $113,000,000 145,000,000, plus the sum of (i) 75% of positive Net Income from Continuing Operations in each fiscal quarter commencing with the fiscal quarter ended September June 30, 2002 and 2009, plus (ii) 75% of the Net Proceeds from the issuance and sale by the Borrower of equity securities any Equity Interests after June 26, 2009, minus (iii) loss from Discontinued Operations commencing with the date hereof.fiscal quarter ending June 30, 2009. For purposes of this Section 6.3:

Tangible Net Worth. The Borrower will not In the case of Borrower, permit the Tangible Net Worth at as of the end of any time fiscal quarter of the Borrower to be less than $113,000,000 plus the sum of (i) 75$246,103,400 plus (ii) 25% of positive the Borrower’s Consolidated Net Income in (but only if a positive number) for each fiscal quarter commencing with the fiscal quarter ended September 30subsequent to December 31, 2002 and 2011 plus (iiiii) 7590% of the Net Proceeds net cash proceeds from the issuance and sale of equity securities the Borrower’s capital stock after the date hereofDecember 31, 2011.

Tangible Net Worth. The Borrower will not permit its Tangible Net Worth at any time to be less than $113,000,000 80,000,000, plus 50% of the sum of (i) 75% of positive the Borrower's after tax Consolidated Net Income in for each fiscal quarter commencing for which Consolidated Net Income is greater than $0.00, beginning with the fiscal quarter ended September 30ending December 31, 2002 and (ii) 75% of the Net Proceeds from the issuance and sale of equity securities after the date hereof2000.

Tangible Net Worth. The Borrower will not permit permit, at any time, its Tangible Net Worth at any time to be less than $113,000,000 eighty-five percent (85%) of Tangible Net Worth as of March 31, 2004, plus the sum of fifty percent (i50%) 75% of positive Net Income in each fiscal quarter commencing with the fiscal quarter ended September 30net income after tax distributions, 2002 and plus one CREDIT AGREEMENT hundred percent (ii100%) 75% of the Net Proceeds from the issuance and sale of equity securities offerings after the date hereofMarch 31, 2004, excluding any asset impairment charges.