Net Worth Requirements. Declare or pay any distributions on any of its common stock or make any purchase, redemption or other acquisition of, any of its common stock if, after giving effect thereto, (i) the aggregate principal amount outstanding under the CFC Subordinated Note would exceed five times the net worth of the Seller or (ii) the net worth of the Seller would be less than $8,000,000.
Net Worth Requirements. Borrower and Guarantors shall at all times maintain a minimum tangible net worth of $12,000,000, calculated on a consolidated basis. For purposes of this covenant, "tangible net worth" shall refer to the excess of Borrower's and Guarantors' total assets above the sum of their intangible assets plus total liabilities (exclusive of any debt subordinated to indebtedness of Borrower or Guarantors to Lender), all determined in accordance with generally accepted accounting principles consistently applied.
Net Worth Requirements. Borrower shall at all times maintain a minimum tangible net worth of $2,200,000.00 from the date hereof through May 31, 1995; $2,500,000.00 from June l, 1995 through November 30, 1995; and $3,750,000.00 thereafter. For purposes of this covenant, "tangible net worth" shall refer to Borrower's total assets minus total liabilities minus prepaids, intangibles and amounts due from affiliates ~ any debt subordination to indebtedness of Borrower to BANKFIRST pursuant to subordination agreements satisfactory to BANKFIRST, all determined in accordance with generally accepted accounting principles consistently applied.
Net Worth Requirements. A. Each applicant for a license shall have and each licensee shall maintain at all times a net worth of at least one hundred thousand dollars, calculated according to generally accepted accounting principles.
Net Worth Requirements. The net worth requirements set forth in Section 8.7 may be increased by BellSouth from time to time during the term of this Attachment upon thirty (30) days’ notice to Network Telephone to at least such minimum limits as shall then be customary with respect to comparable occupancy of BellSouth structures.
Net Worth Requirements. Borrower and Corporate Guarantors shall maintain a minimum tangible net worth of $7,000,000 as of September 30, 2000; $6,250,000 as of December 31, 2000; $6,500,000 as of March 31, 2001; and $6,750,000 at all times thereafter, calculated on a consolidated basis; PROVIDED, HOWEVER, the foregoing minimum tangible net worth requirements shall be increased by an amount equal to the amount of any equity injections into Borrower or any Corporate Guarantor or any subordinated loans to Borrower or any Corporate Guarantor, occurring on or after October __, 2000. For purposes of this covenant, "tangible net worth" shall refer to the excess of Borrower's and Corporate Guarantors' total assets above the sum of their intangible assets plus total liabilities (exclusive of any debt subordinated to indebtedness of Borrower or Corporate Guarantors to Lender), all determined in accordance with generally accepted accounting principles consistently applied.
Net Worth Requirements. Dravo will not permit its Consolidated Net Worth at any time to be less than $90,784,000 (the "Base Amount") as of the Effective Date hereof and as of each quarter ending thereafter to be less than a sum equal to the Base Amount plus 50% of Consolidated Net Earnings available to common shareholders (to the extent this is a positive number) for each quarter ending after the Effective Date. (b)
