Examples of Tangible Net Worth in a sentence
DB Contractor shall report to TxDOT, on or before each anniversary of the Effective Date, the Tangible Net Worth of DB Contractor, its equity members, and Guarantors, if any, by means of audited financial statements of DB Contractor and its equity members, and on a quarterly basis during the term by means of certifications by the CFOs of the DB Contractor, its equity members and any Guarantors.
If at any time during the course of this DBA the total combined Tangible Net Worth of DB Contractor, its equity members and any Guarantors, is less than $60,000,000, DB Contractor shall provide one or more guarantees so that the combined Tangible Net Worth of the DB Contractor, its equity members and any Guarantors is at least $60,000,000.
The Borrower will not at any time permit Consolidated Tangible Net Worth to be less than the sum of (i) $1,000,000,000.00, plus (ii) seventy-five percent (75%) of the sum of any additional Net Offering Proceeds after September 22, 2015.