TNW Capital Increase definition

TNW Capital Increase means, as of any date of determination, the greater of (a) $-0- and (b) 50% of all consideration (if any) received after the date of this Agreement for equity securities and subordinated debt of the Borrower. In no event shall the amount of the TNW Capital Increase be decreased.
Sample 1Sample 2Sample 3
TNW Capital Increase means, as of any date of determination, the greater of (a) $-0- and (b) 50% of all consideration (if any) received from and after March 1, 2004 for equity securities and subordinated debt of the Borrower. In no event shall the amount of the TNW Capital Increase be decreased. Borrower and Silicon hereby acknowledge and agree that, on March 19, 2004, Borrower delivered to Silicon a set of financial projections with respect to the projected financial condition of Borrower for each month through the end of the month during which the Maturity Date (as set forth in Section 4 of this Schedule) is scheduled to occur, which projections Silicon will use in connection with Silicon’s establishing (in its good faith business judgment) financial covenant levels for April 2004 and each month thereafter with respect to Section 5 of this Schedule (the “Additional Projections”). Borrower hereby acknowledges and agrees that: (x) the information in the Additional Projections as required above is to be used by the Silicon in order to establish certain financial covenant levels, with respect to Section 5 of this Schedule, for later periods during the term of this Agreement; (y) such a process introduces uncertainty as to the amounts required for Borrower’s financial covenant compliance in the future; and (z) regardless of any such uncertainty, however, Borrower knowingly and without reservation agrees to the foregoing procedure and fully understands that Events of Default may arise from Borrower’s non-compliance with such later-established amounts. , hereby is amended and restated in its entirety to read as follows:
Sample 1

Examples of TNW Capital Increase in a sentence

  • Borrower shall maintain a Tangible Net Worth of not less than the sum of (a) $24,000,000 plus (b) the TNW Capital Increase (if any).

  • Compliance shall be determined as of the end of each month, except as otherwise specifically provided below: MINIMUM TANGIBLE NET WORTH: Borrower shall maintain a Tangible Net Worth of not less than the sum of (a) $22,000,000 plus (b) the TNW Capital Increase (if any).

Related to TNW Capital Increase

  • Capital Increase has the meaning set out in Clause 3.2.4(iii).

  • Incremental Increase has the meaning specified in Section 2.16(a).

  • Value Increase shall have the meaning ascribed to it in Section 2.4(d)(i).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Annual increase means, initially, fifty-nine cents per month

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Minimum capital or "minimum required capital" means the capital that must be constantly maintained by a stock insurance corporation as required by statute.

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Net Capital means, at any time, "net capital" computed in accordance with Rule 15c3-1.

  • Commitment Increase Date has the meaning assigned to such term in Section 2.08(e).

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Commitment Increase Notice has the meaning assigned to such term in Section 2.19.

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

  • Equity Capital means and includes (i) any and all ordinary shares, stock or other common or ordinary equity shares, interests, participations or other equivalents of or interests therein (however designated), including, without limitation, shares of preferred or preference shares, (ii) all partnership interests (whether general or limited) in any Person which is a partnership, (iii) all membership interests or limited liability company interests in any limited liability company, and (iv) all equity or ownership interests in any Person of any other type.

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Incremental Term Facility has the meaning assigned to such term in Section 2.22(a).

  • Fixed Incremental Amount means (i) the greater of $920,000,000 and 100% of Consolidated EBITDA as of the last day of the most recently ended Test Period minus (ii) the aggregate outstanding principal amount of all Incremental Facilities, Incremental Equivalent Debt and/or Indebtedness incurred pursuant to Section 7.03(r)(ii)(A), in each case incurred or issued in reliance on this definition.

  • Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.

  • Available Incremental Amount has the meaning specified in Section 2.14(4)(c).

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).