Common use of Minimum Net Worth Clause in Contracts

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Net Worth in an amount equal to (a) $45,000,000, plus (b) 75% of cumulative Net Income, if positive for any fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to of not less than the sum of (ai) $45,000,000, 17,000,000 plus (bii) 75% of cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any fiscal beginning with the quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003.ending January

Minimum Net Worth. The At all times, the Borrower and will not permit its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to be less than the sum of (ai) $45,000,000, 5,320,141,8505,586,992,000 plus (bii) 7550% of the cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter thereafter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any if positive) commencing with the fiscal quarter commencing ending on and after May 1June 30, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 200320172022.

Minimum Net Worth. The Borrower Borrowers and its their Subsidiaries on a consolidated Subsidiaries will basis shall maintain at all times maintain Net Worth in an amount equal to or greater than the sum of (a) $45,000,00017,000,000, plus (b) 75an amount equal to 50% of cumulative Net IncomeIncome earned during each of its Fiscal Quarters beginning with its Fiscal Quarter commencing October 1, 1997 (without reduction for net losses, if positive for any fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarterany), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Net Worth in an amount equal to not less than the sum of (a) $45,000,000, 33,000,000 plus (b) 75% of cumulative Net Income, if positive for any fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any fiscal quarter commencing on and after May 1April 30, 20031997, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1April 30, 20031997.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to of not less than the sum of (a) $45,000,00017,500,000, plus (b) 7550% of cumulative positive Consolidated Net Income, if positive for any Income earned in each fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs ending on or after January 1, 2003.2011. and (iii) adding Section 6.24.5 as follows:

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to of not less than the sum of (ai) $45,000,000, 45,000,000 plus (bii) 7550% of cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter beginning with the quarter ending December 31, 1998 (i.e., exclusive of any negative Net Income without deduction for any fiscal quarterlosses), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003."

Minimum Net Worth. The At all times, the Borrower and will not permit its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to be less than the sum of (ai) $45,000,000, 4,223,942,000 plus (bii) 7550% of the cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter thereafter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any if positive) commencing with the fiscal quarter commencing ending on and after May 1September 30, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 20032013.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to of not less than the sum of (ai) $45,000,000, 160,000,000 plus (bii) 7550% of cumulative Net Income, if positive for any fiscal quarter (i.e., exclusive of any negative Consolidated Net Income for any fiscal quarter), for any fiscal quarter commencing on and after May 1, 2003, plus (cif positive) all Net Proceeds of earned in each Equity Issuance which occurs on or after January 1Fiscal Quarter beginning with the Fiscal Quarter ending December 31, 2003.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will Maintain at all times maintain on a consolidated basis a minimum Net Worth in an amount equal to (a) of not less than $45,000,000, 25,000,000.00 plus (b) 75% of the Borrower's cumulative Net Income, if positive for any quarterly net income commencing with the fiscal quarter (i.e.ended September 30, exclusive 1998, with no deductions for quarterly losses, plus 100% of the net proceeds of any negative Net Income for any fiscal quarter), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds other increase in the equity of each Equity Issuance which occurs on or after January 1, 2003the Borrower.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will shall maintain at all times maintain Net Worth in an amount greater than or equal to the sum of (ai) $45,000,000eighty percent (80%) of the Net Worth of the Borrower and its Subsidiaries on September 30, 2001, plus (bii) 75% fifty percent (50%) of cumulative Net Income, if positive for any fiscal quarter (i.e., exclusive of any negative the Net Income of the Borrower and its Subsidiaries for the Fiscal Quarter ending December 31, 2001 and each Fiscal Quarter thereafter (excluding any fiscal quarternet loss in any such Fiscal Quarter), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to of not less than the sum of (ai) $45,000,000, 155,000,000 plus (bii) 7550% of cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter beginning with the quarter ending June 30, 2002 (i.e., exclusive of any negative Net Income without deduction for any fiscal quarterlosses), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003.

Minimum Net Worth. The At all times, the Borrower and will not permit its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to be less than the sum of (ai) $45,000,000, 5,320,141,850 plus (bii) 7550% of the cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter thereafter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any if positive) commencing with the fiscal quarter commencing ending on and after May 1June 30, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 20032017.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain ----------------- Consolidated Net Worth in an amount equal to of not less than the sum of (ai) $45,000,000, 265,000,000 plus (bii) 75% fifty percent (50%) of cumulative Consolidated Net Income, if positive for any Income earned in each fiscal quarter beginning with the quarter ending December 31, 1997 (i.e., exclusive of any negative Net Income without deduction for any fiscal quarterlosses), for any fiscal quarter commencing on and after May 1, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 2003.

Minimum Net Worth. The Borrower and its consolidated Subsidiaries will at all times maintain Consolidated Net Worth in an amount equal to of not less than the sum of (ai) $45,000,000, 180,000,000 plus (bii) 7550% of cumulative Consolidated Net Income, Income (if positive for any positive) earned in each fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any beginning with the fiscal quarter commencing on and after May 1ending March 31, 2003, plus (c) all Net Proceeds of each Equity Issuance which occurs on or after January 1, 20032002.