Minimum Consolidated Tangible Net Worth means, (i) with respect to any Fiscal Quarter ending on or prior to December 31, 2018, $529,727,500, and (ii) with respect to any Fiscal Quarter ending after December 31, 2018, the sum of (A) the Minimum Consolidated Tangible Net Worth for the immediately preceding Fiscal Quarter plus (B) the greater of (1) 50% of the Consolidated Net Income for Holdings and its Subsidiaries with respect to the Fiscal Quarter ended March 31, 2019 and 25% of Consolidated Net Income for Holdings and its Subsidiaries with respect to each Fiscal Quarter thereafter and (2) zero. For example, if the Consolidated Net Income for Holdings and its Subsidiaries for the Fiscal Quarters ending March 31, 2019 and June 30, 2019 is $1,000,000 and $1,000,000, respectively, the Minimum Consolidated Tangible Net Worth for the Fiscal Quarter ending March 31, 2019 will be $530,477,500, equal to the Minimum Consolidated Tangible Net Worth for the Fiscal Quarter ending December 31, 2018 ($529,727,500) plus 50% of $1,000,000 ($500,000) and 25% of $1,000,000 ($250,000).
Minimum Consolidated Tangible Net Worth means $175,000,000.
Minimum Consolidated Tangible Net Worth has the meaning assigned to that term in Section 7.01 hereof.
Examples of Minimum Consolidated Tangible Net Worth in a sentence
The Minimum Consolidated Tangible Net Worth of MMA will not be less than $350,000,000 at any time.
More Definitions of Minimum Consolidated Tangible Net Worth
Minimum Consolidated Tangible Net Worth means, as of any date of determination, an amount equal to the Tangible Net Worth of Borrower or Guarantor, as applicable, and its respective Subsidiaries.
Minimum Consolidated Tangible Net Worth means the Consolidated Tangible Net Worth (as defined below) of Bolle and its Subsidiaries, as of the date of the Spinoff, plus the amount of any additional equity raised through the public markets by Bolle or any member of the Bolle Group subsequent to the Spinoff (while a member of the Bolle Group), net of all transactional expenses associated therewith. The Consolidated Tangible Net Worth of Bolle and its Subsidiaries shall be determined by subtracting all intangible assets included in the computation of Consolidated Net Worth at the time in question from such Consolidated Net Worth ("Consolidated Tangible Net Worth")) as evidenced by a certificate to that effect issued by the Treasurer or Chief Financial Officer of Bolle.
Minimum Consolidated Tangible Net Worth means an amount equal to 80% of the Consolidated Tangible Net Worth of the Company as of September 30, 2012.
Minimum Consolidated Tangible Net Worth means the sum of (a) $90,000,000 plus (b) seventy-five percent (75%) of any increase in the shareholders equity of Borrower resulting from the issuance of equity securities by Borrower after January 21, 1999.
Minimum Consolidated Tangible Net Worth means, as of any date of determination, an amount equal to the Tangible Net Worth of Borrower and its Subsidiaries.
Minimum Consolidated Tangible Net Worth. Means as of the Closing Date a Consolidated Tangible Net Worth equal to at least $135,000,000; and for each Fiscal Quarter ending thereafter 50% of the Consolidated Net Income for the Fiscal Quarter just ended plus the Minimum Consolidated Tangible Net Worth calculated as of the later of (i) the Closing Date or (ii) the last day of the Fiscal Quarter immediately preceding the Fiscal Quarter in question.
Minimum Consolidated Tangible Net Worth means (i) $1,015,000,000, plus (ii) 70% of the cumulative Net Proceeds of Capital Stock/Conversion of Debt received at any time since December 31, 2005 (other than the period commencing on January 1, 2008 and ending on September 30, 2008), plus (iii) 30% of the cumulative Net Proceeds of Capital Stock/Conversion of Debt received at any time during the period commencing on January 1, 2008 and ending on September 30, 2008.