Minimum Net definition

Minimum Net. Worth shall mean the sum of (i) 95% of the net worth of PhyMatrix, calculated on a consolidated basis in accordance with GAAP, as of the end of the quarter ended April 30, 1997 plus (ii) 75% of consolidated net income (determined in accordance with GAAP) of PhyMatrix for each fiscal quarter in which net income was earned (as opposed to a net loss) plus (iii) 100% of all increases in "equity", "Shareholders equity" or "additional paid in capital," or similar items (including equity securities issued and increases in equity effected in connection with Permitted Acquisitions), of PhyMatrix on a consolidated basis (determined in accordance with GAAP) occurring for any reason, all as calculated for the period from the Closing Date through the date of determination. Month, with respect to an Interest Period under the Euro-Rate Option, shall mean the interval between the days in consecutive calendar months numerically corresponding to the first day of such Interest Period. If any Euro-Rate Interest Period begins on a day of a calendar month for which there is no numerically corresponding day in the month in which such Interest Period is to end, the final month of such Interest Period shall be deemed to end on the last Business Day of such final month. Multiemployer Plan shall mean any employee benefit plan which is a "multiemployer plan" within the meaning of Section 4001(a)(3) of ERISA and to which the Borrowers or any member of the ERISA Group is then making or accruing an obligation to make contributions or, within the preceding five Plan years, has made or had an obligation to make such contributions.
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Minimum Net. Target : Subject to : Year : Net Income : Income Per : Net Income : Vesting : : Per Share : Share : Per Share ---------------:-------------:--------:-------------:-------------:------------ 2/28/01 : 33,333 : 2000 : $[****]*: $[****]* : $[****]* ---------------:-------------:--------:-------------:-------------:------------ 2/28/02 : 33,333 : 2001 : $[****]*: $[****]* : $[****]* ---------------:-------------:--------:-------------:-------------:------------ 2/28/03 : 33,334 : 2002 : $[****]*: $[****]* : $[****]* ---------------:-------------:--------:-------------:-------------:------------ 3-Year : : : : : $[****]* Aggregate : : : : : ---------------:-------------:--------:-------------:-------------:------------ EXAMPLE: If the Company earns net income per share for fiscal year 2000 of $[****]*, options to purchase 23,666 shares (71% of the 33,333) shall vest and become exercisable on 2/28/01. ---------------- * Confidential Treatment Requested by AnnTaylor Stores Corporation. --------------------------------------------------------------------------------
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Examples of Minimum Net in a sentence

  • The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a statement of said Net Assets and Minimum Net Assets (calculated within 10 Days of the Borrowing Date).

  • The Borrower will at all times keep and maintain Consolidated Net Worth at an amount not less than the Minimum Net Worth.

  • Borrower will maintain a Net Worth of not less than the Minimum Net Worth.

  • Credit Parties shall not permit its consolidated Net Revenue for any Defined Period, as tested quarterly on the last day of the applicable Defined Period, to be less than the Applicable Minimum Net Revenue Threshold for such Defined Period.

  • If, however, a Participant has scheduled an amount of Energy in excess of its share of the Minimum Net Generation, the other Participants shall be allowed to reduce their scheduled Energy to an amount that will maintain the Unit at the Minimum Net Generation level.

  • You further understand that, in the event your account falls below such Minimum Net Equity, you shall bring your account into compliance in a timely fashion.

  • Borrowers shall not permit their consolidated Net Revenue for any applicable Defined Period, as tested monthly on the last day of the applicable Defined Period, to be less than the Minimum Net Revenue Threshold for such Defined Period.

  • Not permit its Net Worth at any time to be less than the Minimum Net Worth.

  • Borrower will at all times maintain a net worth of at least the amount set forth in Section 8(b) of Schedule A as the Minimum Net Worth Requirement.

  • If the Tenant loses the use of any part of the Leased Premises during the making of such additions and/or extensions, the Tenant shall be granted a proportionate reduction in Minimum Net Net Rental as compensation for loss of use (during the period and for the area of loss of use only); all of the foregoing without any other claims by the Tenant against the Landlord for damage and loss of use.