Total Net Worth. At all times during the term of the Loan, Borrower shall at all times cause Guarantor to maintain minimum Total Net Worth of $250,000,000.00, measured on a quarterly basis as of March 31, June 30, September 30 and December 31 of each calendar year during the term of the Loan, commencing on March 31, 2021, based upon the Financial Statements delivered by Borrower to Lender in accordance with Sections 6.5.4 and 6.5.5 on Schedule 6.5. Borrower shall deliver to Lender any other documentation and evidence as shall be satisfactory to Lender, in Lender’s reasonable opinion and judgment, evidencing Guarantor’s compliance with the minimum requirement set forth in this Section 6.18.1.
Total Net Worth. Effective as of March 31, 2009, Section 10.1.1 of the Loan Agreement is deleted and replaced with the following, it being understood that for time periods prior to such date, Section 10.1.1 shall be calculated in accordance with the provisions then in effect:
Total Net Worth. (Section 6.18.1 of the Agreement) The Total Net Worth for Terra Property Trust, Inc. is: Total Assets $ Minus: Intangible Assets & Loans to Stakeholders $ Minus: Prepaid Taxes and/or Expenses $ Minus: Total Liabilities $ TOTAL NET WORTH $ REQUIRED MINIMUM $200,000,000.00 In compliance? ☐Yes ☐No
Total Net Worth. The Total Net Worth for Borrower and its Subsidiaries, on a consolidated basis, as of the last day of any fiscal quarter, shall not be less than (a) $175,000,000 as of March 31, 2009; or (b) on and after June 30, 2009, (i) $175,000,000 plus (ii) seventy five percent (75%) of consolidated net income (to the extent such amount is positive, but without deduction for consolidated net loss) for fiscal quarters ending on or after June 30, 2009, plus (iii) one hundred percent (100%) of the consolidated net cash proceeds realized from the issuance of any equity securities by Borrower or any of its Subsidiaries (and other capital contributions made to Borrower or any of its Subsidiaries) after March 31, 2009. As used herein, "Total Net Worth" means for any Person (a) the net book value of all of such Person's assets, minus (b) all of such Person's liabilities.
Total Net Worth. A. Required Total Net Worth 1 . $175,000,000.00 $
Total Net Worth. Maintain a total net worth on Borrower’s balance sheet, as determined per GAAP, plus the Laurus Master Fund, Ltd. loan discount cost as indicated on the Borrower prepared financial statements, of not less than $0 as of the fiscal quarter ending September 30, 2006. This covenant shall be tested on the last day of each fiscal quarter by reference to the fiscal quarter then ended.
Total Net Worth. The Total Net Worth for Borrower and its Subsidiaries, on a consolidated basis, shall not be less than $300,000,000.00 as of the last day of any fiscal quarter.
Total Net Worth. A. Net Book Value of Assets $ B. MINUS Total Liabilities $ C. Total Net Worth $ D. Minimum Requirement: $300,000,000 $
Total Net Worth. The Total Net Worth for Borrower and its Subsidiaries, on a consolidated basis, as of the last day of any fiscal quarter, shall not be less than (a) $245,000,000 as of June 30, 2008; or (b) on and after September 30, 2008, (i) $245,000,000 plus (ii) seventy five percent (75%) of consolidated net income (to the extent such amount is positive, but without deduction for consolidated net loss) for fiscal quarters ending on or after September 30, 2008, plus (iii) one hundred percent (100%) of the net cash proceeds realized from the issuance of any equity securities by Borrower or any of its Subsidiaries (and other capital contributions made to Borrower or any of its Subsidiaries) after June 30, 2008, minus (iv) non-cash write downs of franchise value or other intangible items after June 30, 2008 and on or before March 31, 2010, which are required by GAAP, in an aggregate amount not in excess of a total of $30,000,000.
