Examples of Stated Net Worth in a sentence
Permit at any time, its Consolidated Tangible Net Worth to be any less than 25% of the Consolidated Stated Net Worth, tested no less frequently than quarterly and determined in accordance with GAAP, consistently applied.
Permit as at the end of any Test Period the sum of (A) the Consolidated Stated Net Worth plus (B) if a positive number, the Borrower's net income for the relevant Test Period (excluding any extraordinary items or non-recurring items) to be less than 90% of said sum determined as of the last day of the immediately preceding Test Period, tested no less frequently than quarterly and determined in each case on a Consolidated basis in accordance with GAAP, consistently applied.
Pacific Biometrics, Inc., a Delaware corporation, on a consolidated basis, shall maintain, as of the last day of each calendar month, a ratio of Total Liabilities less Subordinated Debt to Stated Net Worth plus Subordinated Debt of not more than 1.00 to 1.0.
For purposes of determining Borrower's compliance with Sections 6.8, 6.9, 6.10, and 6.11 hereof, all Deferred Interest, Deferred Current Interest and Closing Expenses, and the expenses and interest paid to Hancxxx xxxsuant to paragraphs 2a(ii), 2(d) and 5(f) of the Hancxxx Xxxndment shall be added back into Consolidated Net Income, Consolidated EBITA and Stated Net Worth.
Beginning for the period March 31, 1998 and thereafter, Borrower shall maintain, as of the last day of each calendar month, a Stated Net Worth of not less than $3,000,000.