Tangible Net Worth Requirements. Borrower shall comply with the following net worth ratio requirements:
Tangible Net Worth Requirements. Borrower will maintain a minimum Tangible Net Worth of $170,000,000, to be adjusted upward at the end of each fiscal quarter, commencing with the fiscal quarter ending December 25, 2004, by twenty five percent (25%) of positive net income after taxes and before dividends for such quarter. Once adjusted upward, the Tangible Net Worth requirement set forth herein will not decrease downward except for the cash cost of repurchases of treasury stock at cost.
Tangible Net Worth Requirements. Maintain a minimum Tangible Net Worth of not less than: $1,500,000.00. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true end correct.
Tangible Net Worth Requirements. Borrower shall have a minimum Tangible Net Worth of not less than $15,500,000.00 measured as of March 31, 2007, and measured on a quarterly basis thereafter, with such minimum Tangible Net Worth requirement to be increased each quarter thereafter by 50% of Net Profit After Tax of the preceding quarter, provided that if Borrower’s Net Profit After Tax is negative (i.e., a loss), the then current minimum Tangible Net Worth will not be decreased. For the purposes of this covenant, and for all other purposes of this Agreement, Net Profit After Tax will the amount, determined on a consolidated basis, reported as after tax Net Income at the end of each fiscal quarter on Borrower’s financial statements.
Tangible Net Worth Requirements. Borrower shall comply with the following net worth ratio requirements: Debt / Worth Ratio. Maintain a ratio of Debt / Worth not in excess of 2.250 to 1.000. The ratio "Debt / Worth" means Borrower's Total Liabilities divided by Borrower's Tangible Net Worth. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Tangible Net Worth Requirements. Other Net Worth requirements are as follows:
Tangible Net Worth Requirements. Maintain a minimum Tangible Net Worth of not less than: $5,500,000.00. In addition, Borrower shall comply with the following net worth ratio requirements:
Tangible Net Worth Requirements. Maintain a minimum Tangible Net Worth of not less than: $10,500,000.00. Other Net Worth requirements are as follows:
Tangible Net Worth Requirements. Borrower’s affirmative financial covenant contained in the Loan Agreement requiring Borrower to “maintain a net worth greater than 9X the outstanding loan balance of the subject revolving line of credit”, is hereby amended by substituting “three (3) times” in the place of “9X”.
Tangible Net Worth Requirements. The Credit Parties shall maintain a total Tangible Net Worth of not less than $7,300,000.00, plus: (a) fifty percent (50%) of net income (excluding losses) of the Credit Parties on a consolidated basis during all quarterly periods subsequent to June 30, 2004, and (b) one hundred percent (100%) of any increases in shareholders’ equity resulting from the sale or issuance of equity interests in any of the Credit Parties on a consolidated basis during any quarterly period subsequent to June 30, 2004.
