Minimum Consolidated Net Worth definition

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 Consolidated Net Worth means an amount, as of any determination thereof, equal to the sum of $175,000,000 plus 25% of Consolidated Net Income for the period from and including April 1, 1996 to such determination date but which amount shall in no event be less than $175,000,000.
Minimum Consolidated Net Worth means an amount of not less than (a) $786,360,204 plus (b) fifty per cent (50%) of the value of any subsequent primary equity offerings of the New Guarantor completed after 31 March 2015.”.

Examples of Minimum Consolidated Net Worth in a sentence

  • The Company will not permit Consolidated Net Worth at any time to be less than the Minimum Consolidated Net Worth Amount in effect at such time.

  • At no time will Consolidated Net Worth be less than Minimum Consolidated Net Worth.

  • Holdings shall have, on the last day of each Fiscal Quarter, a Consolidated Net Worth at least equal to the Minimum Consolidated Net Worth with respect to such Fiscal Quarter.

  • The Borrower will at all times cause its Consolidated Net Worth to be equal to or greater than the Minimum Consolidated Net Worth.

  • The Borrower will not permit its Consolidated Net Worth at any time to be less than the Minimum Consolidated Net Worth.


More Definitions of Minimum Consolidated Net Worth

Minimum Consolidated Net Worth means US$1.8 billion.
Minimum Consolidated Net Worth means $1.8 billion.
Minimum Consolidated Net Worth means $1,700,000,000; provided that such amount shall be adjusted at the end of each Fiscal Quarter ending after December 31, 1997, as follows:
Minimum Consolidated Net Worth means $3,600,000,000, and shall be adjusted at the end of each Fiscal Quarter commencing with the Fiscal Quarter ending on September 30, 2004, as follows:
Minimum Consolidated Net Worth means the consolidated net worth of the Borrower and Borrower Subsidiaries using the Aggregate Investment Capitalization for all Borrower's Investments, plus all cash and cash equivalents of the Borrower and the Borrower Subsidiaries, less the allocable share of all liabilities respecting both the Individual Properties and the liabilities of the Borrower Subsidiaries, as reasonably determined by the Agent in a manner consistent with the procedures and methods utilized by the Agent in analyzing the financial information provided by the Borrower prior to closing. The Borrower's compliance with the Minimum Consolidated Net Worth covenant shall be tested by the Agent on each Calculation Date with results based upon the then current financial information, as reasonably determined by the Agent in a manner consistent with the procedures and methods utilized by the Agent in analyzing the financial information provided by the Borrower prior to closing. If such Minimum Consolidated Net Worth covenant shall not be satisfied on any Calculation Date, Borrower shall prepay a sufficient amount of principal outstanding on the Loan such that if such principal reduction had been made on the Calculation Date the Minimum Consolidated Net Worth covenant would have been satisfied on such Calculation Date. It shall be an Event of Default if Borrower fails to make such a prepayment not later than the first to occur of: (i) ten (10) Business Days after Notice from Agent to Borrower properly requesting the payment, or (ii) if Borrower has failed to give Agent and each of the Lenders sufficient reports to enable Agent to make the necessary calculations, forty-five (45) days following the applicable Calculation Date, provided the Borrower shall have an additional five days to supply additional information to the Agent from the date the Agent notifies the Borrower that the initial reports have been deemed insufficient by the Agent.
Minimum Consolidated Net Worth means $700,000,000; provided that such amount shall be reduced by $100,000,000 on the fifth anniversary of the Closing Date and shall be further reduced by $100,000,000 on every subsequent fifth anniversary thereafter.
Minimum Consolidated Net Worth means $2,650,000,000; provided that such amount shall be adjusted at the end of each Fiscal Quarter commencing with the Fiscal Quarter ending on March 31, 2001, as follows: