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.
Appears in 3 contracts
Samples: Receivables Purchase Agreement (Domus Holdings Corp), Purchase Agreement (NRT Settlement Services of Missouri LLC), Purchase Agreement (Realogy Corp)
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 CMF 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.
Appears in 2 contracts
Samples: Receivables Purchase Agreement (Cendant Corp), Receivables Purchase Agreement (PHH Corp)
