Common use of Tangible Net Worth Clause in Contracts

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses.

Tangible Net Worth. Borrower shall maintain, as of the last calendar day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four One Hundred Eighty-eight Thousand Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of 100,000,000.00).” and inserting in lieu thereof the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses.following:

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Nineteen Million Dollars ($11,488,00019,000,000) as of June through September 30, 1996, plus one hundred percent and at least Twenty Two Million Dollars (100%$22,000,000) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for lossesthereafter.

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Thirty Two Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses32,000,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Seventy Million Dollars ($11,488,00070,000,000), minus up to an aggregate amount of Fifteen Million Dollars (15,000,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of provided such amount is used to repurchase Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, capital stock in accordance with no deduction for lossesSection 6.6.

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven MillionSeventy Million Dollars ($70,000.000), Four minus the amount used to repurchase Borrower's capital stock in accordance with Section 6.6 up to aggregate amount of Seven Million Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses7,500,000).

Tangible Net Worth. Borrower shall maintainMaintain, as of the last day of each of Borrower's fiscal quarterquarters, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Five Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses5,000,000)."

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred EightyTwenty-eight Thousand Five Million Dollars ($11,488,00025,000,000) as of June 30, 1996, plus one hundred sixty percent (10060%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for lossesany New Equity.

Tangible Net Worth. Borrower Borrowers shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less greater than Eleven Million, Four Hundred EightySixty-eight Thousand Eight Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses68,000,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Two Million Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses.2,500,000). 6.10

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Twenty Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses.20,000,000). 6.10

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Nineteen Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses19,000,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quartercalendar month, a Tangible Net Worth of not less than Eleven Million, Four Two Million Five Hundred Eighty-eight Thousand Dollars ($11,488,0002,500,000) as of June 30, 1996, plus one hundred fifty percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (7550%) of Borrower's quarterly net profits from such quarter, with no deduction for lossesafter tax.

Tangible Net Worth. Borrower shall maintain, as of the last calendar day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand ONE HUNDRED MILLION Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses100,000,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Twenty Four Million, Four Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses24,500,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Fifty Two Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses52,000,000).

Tangible Net Worth. Borrower shall maintain, as As of the last day of each fiscal quarter, Borrower shall maintain at all times a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Five Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses5,000,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth plus deferred maintenance revenues of not less than Eleven Million, Four Six Million Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses6,500,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth plus Subordinated Debt of not less than Eleven Million, Four Two Million Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses2,500,000).

Tangible Net Worth. Borrower shall maintain, as of the ------------------ last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Hundred Eighty-eight Thousand Thirteen Million Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses13,000,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Seven Million Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses7,500,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a Tangible Net Worth of not less than Eleven Million, Four Million Five Hundred Eighty-eight Thousand Dollars ($11,488,000) as of June 30, 1996, plus one hundred percent (100%) of the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for losses4,500,000).

Tangible Net Worth. Borrower shall maintain, as of the last day of each of Borrower's fiscal quarterquarters, a Tangible Net Worth of not less than Eleven Million, Four Twenty One Million Five Hundred Eighty-eight Thousand Dollars ($11,488,00021,500,000) as plus seventy-five percent (75%) of June 30net profit (excluding losses) for the prior quarter, 1996on a consolidated basis, plus one hundred percent (100%) of net proceeds of equity or Subordinated Debt received after the proceeds received from the sale of Borrower's equity securities during each fiscal quarter, plus seventy five percent (75%) of Borrower's profits from such quarter, with no deduction for lossesdate hereof.