Tangible Net Worth Test definition

Tangible Net Worth Test means a test that is satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date if the Tangible Net Worth is equal to or greater than $75,000,000.
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Tangible Net Worth Test has the meaning defined in the Guaranty.
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Tangible Net Worth Test means, as of the last day of any calendar quarter, the Tangible Net Worth of MIC is greater than $50 million.
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Examples of Tangible Net Worth Test in a sentence

  • The Borrower may make the election under the preceding sentence only if it makes the corresponding election with respect to the Consolidated Tangible Net Worth Test at the same time.

  • The Borrower’s failure to satisfy the Consolidated Tangible Net Worth Test shall not constitute an Event of Default or Default; provided, however, that, if the Borrower fails to satisfy the Consolidated Tangible Net Worth Test for two (2) consecutive quarters, then the Term-Out Period shall commence (if it has not already commenced) on the applicable Term-Out Date.

  • The Guarantor shall not allow its Tangible Net Worth (defined in Schedule 1 hereto) as at any Test Date to be less than $325,000,000 (the "Tangible Net Worth Test").

  • The form of Compliance Certificate attached as Exhibit F to the Credit Agreement is hereby amended to conform to the foregoing changes in the Consolidated Tangible Net Worth Test.

  • Borrower's Consolidated Tangible Net Worth shall not be less than (i) $147,000,000.00, plus (ii) fifty percent (50%) of the cumulative Consolidated Net Income earned during each quarter after April 30, 1998 (excluding any quarter in which there is a loss), plus (iii) one hundred percent (100%) of the net proceeds of any Subordinated Indebtedness or any capital stock or other equity interest issued by Borrower after the date of this Agreement (the "Consolidated Tangible Net Worth Test").


More Definitions of Tangible Net Worth Test

Tangible Net Worth Test shall have the meaning set forth in Schedule I.
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Tangible Net Worth Test. As of the date through which data is reported in each Settlement Report, the Tangible Net Worth of MEI shall equal or exceed the Minimum Tangible Net Worth.
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Tangible Net Worth Test means, for any Subsidiary, as of any date, the Tangible Net Worth of such Subsidiary as of such date is not greater than one percent (1.0%) of the consolidated Tangible Net Worth of Borrower and its Subsidiaries as of such date (excluding such Subsidiary).
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