Minimum Book Net Worth definition

Minimum Book Net Worth. Company shall maintain its Book Net Worth during each period set forth below in an amount not less than the amount set forth below: Month Ending Minimum Book Net Worth December 31, 2010 $46,500,000 January 31, 2011 $46,500,000 February 28, 2011 $46,500,000 March 31, 2011 $48,000,000 April 30, 2011 $47,500,000 May 31, 2011 $47,500,000 June 30, 2011 $47,500,000 July 31, 2011 $47,000,000 August 31, 2011 $47,000,000 September 30, 2011 $47,000,000 October 31, 2011 $47,250,000 November 30, 2011 $46,750,000 December 31, 2011 $48,000,000 January 31, 2012 $48,000,000 February 29, 2012 $48,000,000

Examples of Minimum Book Net Worth in a sentence

  • Section 6.15 of the Credit Agreement is ------------------------- amended in its entirety to read as follows: Minimum Book Net Worth.

  • Section 6.15 of the Credit Agreement ------------------------- is amended in its entirety to read as follows: Minimum Book Net Worth.

  • Moreover, Borrower is also in violation of the Minimum Book Net Worth covenant as set forth in Sections 6.13 of the Credit Agreement, which states that Borrower will cause Microtel and its subsidiaries ("MICROTEL") to maintain a Book Net Worth, on a consolidated basis, of not less than Five Million Six Hundred Eighty Thousand Dollars ($5,860,000) for the fiscal year ending December 31, 2002.

  • If the Borrower's Book Net Worth as reported on the final audited financial statements for September 30, 1996 shall differ by $50,000 or more from $10, 455,000 as reported by Borrower to Lender, the Lender shall have the right to amend the Minimum Book Net Worth amounts shown above.

  • Minimum Book Net Worth Permit Book Net Worth to be less than $1,000,000.

  • The Borrower is in default under Section 6.12 Minimum Net Income and Section 6.13 Minimum Book Net Worth as of March 31, 2003 and through August 31, 2003 (the “Existing Defaults”).

  • Borrowers shall at all times ensure that the minimum average FICO Score of its portfolio of Host Customer Agreements is at least [***].Section 9.4 Minimum Book Net Worth.

  • If amended or restated financial statements change the previously calculated applicable Minimum Book Net Worth, Lender may reduce or increase the applicable Minimum Book Net Worth from the date of receipt of such amended or restated financial statements, to the beginning of the then current fiscal year or to the beginning of the fiscal month of the then current year, as Lender in its sole discretion deems appropriate.

  • The Borrower is in default under Section 6.13 Minimum Book Net Worth as of September 30, 2002 and through January 31, 2003 (the "Existing Defaults").

Related to Minimum Book Net Worth

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Book Net Worth means the aggregate of the common and preferred stockholders' equity in the Borrower, determined in accordance with GAAP.

  • Minimum Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $1,418,939,250 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after September 30, 2013 in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries; provided however, that any such net proceeds used solely for the purpose of redeeming the Parent’s preferred stock shall not be included in such sum.

  • Minimum Balance means, at any time, an amount that equals the product of: (a) the average Borrowing Base (or, if less on any given day, the Revolving Loan Commitment) during the immediately preceding month multiplied by (b) the Minimum Balance Percentage for such month.

  • Minimum capital or "minimum required capital" means the capital that must be constantly maintained by a stock insurance corporation as required by statute.

  • Net Worth means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation.

  • Minimum Consolidated Net Worth means, (i) with respect to any Fiscal Quarter ending on or prior to September 30, 2010, $375,000,000 and (ii) with respect to any Fiscal Quarter ending after September 30, 2010, the sum of (A) the Minimum Consolidated Net Worth for the immediately preceding Fiscal Quarter plus (B) the greater of (1) 50% of Consolidated Net Income for Holdings and its Subsidiaries with respect to the current Fiscal Quarter and (2) zero. For example, if the Consolidated Net Income for Holdings and its Subsidiaries for the Fiscal Quarter ending December 31, 2010 is $20,000,000, the Minimum Consolidated Net Worth for the Fiscal Quarter ending December 31, 2010 will be $385,000,000 (i.e., the Minimum Consolidated Net Worth for the Fiscal Quarter ending September 30, 2010 plus 50% of $20,000,000).

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Minimum Investment means an investment in the project of at least two and one‑half million dollars within the investment period. If a county has an average annual unemployment rate of at least twice the state average during the last twenty‑four month period based on data available on the most recent November first, the minimum investment is one million dollars. The department shall designate these reduced investment counties by December thirty‑first of each year using data from the South Carolina Department of Employment and Workforce and the United States Department of Commerce. The designations are effective for a sponsor whose fee agreement is signed in the calendar year following the county designation. For all purposes of this chapter, the minimum investment may include amounts expended by a sponsor or sponsor affiliate as a nonresponsible party in a voluntary cleanup contract on the property pursuant to Article 7, Chapter 56, Title 44, the Brownfields Voluntary Cleanup Program, if the Department of Health and Environmental Control certifies completion of the cleanup. If the amounts under the Brownfields Voluntary Cleanup Program equal at least one million dollars, the investment threshold requirement of this chapter is deemed to have been met.

  • Minimum Liquidity has the meaning given in Clause 11.19;

  • Normal Minimum Generation means the lowest output level of a generating resource under normal operating conditions.

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Adjusted Net Worth of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or any guaranteed obligations arising under any guaranty of any Permitted Additional Indebtedness) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 17 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 18, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 18, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the Termination Date. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

  • Minimum Level (ML means the concentration at which the entire analytical system must give a recognizable signal and an acceptable calibration point. The ML is the concentration in a sample that is equivalent to the concentration of the lowest calibration standard analyzed by a specific analytical procedure, assuming that all the method-specified sample weights, volumes and processing steps have been followed.

  • Minimum Equity Amount shall have the meaning provided in the preamble to this Agreement.

  • Minimum Requirements To ensure the CNA demonstrates proper preparation, organization, and readiness, the formal briefing (and supporting documentation) to the Commission must include –  Detailed list, to include descriptions, of the services the CNA provides the NPAs in support of the AbilityOne Program and additional services the CNA intends to incorporate in the future (with a timeline for incorporation).  Details regarding the results of the implementation and execution of the CNA’s NPA affiliation process. Address the progress the CNA has made with vetting NPAs to ensure they meet AbilityOne Program’s initial qualification criteria in accordance with 41 C.F.R. § 51-4.2. Ensure details are provided regarding the number of NPAs already vetted.  Details regarding the implementation of the CNA’s NPA recommendation and allocation process and procedures, to include the process used to announce opportunities to the NPA community. Address in detail: • how many notices have been posted; • types of opportunities; • how well the NPAs are able to sufficiently respond to the notices; • challenges and successes experienced in this process and efforts to improve; • results of opportunity notices (Commission approved/disapproved, new Procurement List additions, NPAs dispute CNA recommendations, contracts awarded, etc.)  Detailed list of the NPAs that are officially affiliated with the CNA, description of the services (or products) the NPA can/or currently provide(s) federal customers, and the government agencies and requirements that the NPAs will potentially fulfill/are currently fulfilling.  Total Program Fee collected during Phase III, to include name of NPA and government customer; contract number, contract value, fee charged per contract; and brief description of product or service.

  • Minimum Borrowing Amount means (a) with respect to a Borrowing of LIBOR Loans, $5,000,000 or the Dollar Equivalent thereof (or, if less, the entire remaining Commitments under the applicable Credit Facility at the time of such Borrowing) and (b) with respect to a Borrowing of ABR Loans (other than Swingline Loans), $1,000,000 (or, if less, the entire remaining Commitments under the applicable Credit Facility at the time of such Borrowing).

  • Target Net Working Capital means $0.

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Target Net Working Capital Amount means an amount equal to the four (4) quarter average “NWC” (as defined in this paragraph) for 2015 for the portion of the Business conducted at each of the Initial Closing Facility and the Final Closing Facilities, as applicable. As used herein, “NWC” means (a) the Net Book Value of the current assets of the Business listed on Section B-2 of the Disclosure Schedule, less (b) the Net Book Value of the current liabilities of the Business listed on Section B-2 of the Disclosure Schedule, in each case, as of the Sellers’ last accounting day of each fiscal quarter in 2015 and determined in accordance with the guidelines set forth on Section B-1 of the Disclosure Schedule and in accordance with the Agreed Financial Methodology and the Initial Closing Financial Information or Final Closing Financial Information, as applicable.

  • Minimum means that the measured value of the quality characteristic or contaminant must not be less than the release limit stated.

  • Adjusted Tangible Net Worth As of the date of determination thereof, the sum of: (i) Servicer's Tangible Net Worth; plus (ii) one percent (1%) of the amount of Servicer's servicing portfolio, as determined by the Master Servicer in the Master Servicer's reasonable discretion.

  • Adjusted Net Book Value means, as of any date of determination, with respect to each Adjusted Program Vehicle as of such date, the product of 0.965 and the Net Book Value of such Adjusted Program Vehicle as of such date.

  • Economic Minimum means the lowest incremental MW output level, submitted to PJM market systems by a Market Participant, that a unit can achieve while following economic dispatch.

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.