Minimum Tangible Net Worth definition

Minimum Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $1,418,939,250 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after September 30, 2013 in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries; provided however, that any such net proceeds used solely for the purpose of redeeming the Parent’s preferred stock shall not be included in such sum.

Minimum Tangible Net Worth means, (i) with respect to Resource America, a Tangible Net Worth (measured as of each fiscal quarter end) of not less than $125,000,000 and (ii) with respect to the Owner, a Tangible Net Worth (measured as of each fiscal quarter end) of not less than (x) $2,500,000 plus, (y) only if the Owner Issuance Condition has been satisfied, the product of 50.00%, times the aggregate outstanding principal balance of the Owner Secured Recourse Promissory Notes held by Persons that are not Affiliates of the Owner.

Minimum Tangible Net Worth shall have the meaning given such term in Section 6.15.4.

Examples of Minimum Tangible Net Worth in a sentence

• No later than (1) fifteen (15) days after the end of each month in connection with the liquidity statements required by subsection (ii) hereof, (2) thirty (30) days after the end of each quarter in connection with the EBITDA covenant in Section 9.3(a) hereof, and (3) ninety (90) days after the fiscal year end in connection with the Minimum Tangible Net Worth covenant in Section 9.3(c) hereof, the Borrower shall provide a certificate, substantially in the form of Exhibit A.

• Minimum Tangible Net Worth: Actual Tangible Net Worth (as of the Determination Date) Required minimum Tangible Net Worth (pursuant to the Guaranty) GAAP Net Worth $ Less: Goodwill, Patents, etc.

• Financial Covenant Required Actual Complies Maintain on an applicable Quarterly Basis: Minimum Tangible Net Worth $85MM plus 50% of new net equity proceeds and 50% of quarterly profits, in each case since , 2009 $ Yes No Minimum Quick Ratio 1.25:1.00 :1.0 Yes No The following financial covenant analys[is][es] and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

• Minimum Tangible Net Worth shall be greater than or equal to the amount set forth in the column “Tangible Net Worth” as at the end of the applicable fiscal year.

• Minimum Tangible Net Worth: Actual Tangible Net Worth (as of the Determination Date) Required minimum Tangible Net Worth (pursuant to the Agreement) GAAP Net Worth $ Less: Investment in Affiliates ($ ) Loan Receivable – Related Party ($ ) Officer/Employee Receivables ($ ) Goodwill, Other Intangibles, etc.

More Definitions of Minimum Tangible Net Worth

Minimum Tangible Net Worth means, with respect to the Parent, at any -------------------------- time, the sum of $450,000,000 plus (a) 75% of the aggregate net proceeds ---- received by the Parent or any of its Subsidiaries after the date of this Agreement in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries taken as a whole and (b) 75% of the value of any partnership interests in Borrower issued after the date of this Agreement for the acquisition of a Hotel Property or any interest in a Hotel Property permitted hereunder.

Minimum Tangible Net Worth means the total book value of -------------------------- shareholder's equity less the balance of goodwill, as reported on the latest quarterly balance sheet prepared in accordance with Generally Accepted Accounting Principles (GAAP).

Minimum Tangible Net Worth means the value of total assets (on the basis of the lower of cost or market) (including leaseholds and leasehold improvements and reserves against assets but excluding goodwill, patents, trademarks, trade names, organization expense, unamortized debt discount and expense, capitalized or deferred research and development costs, deferred marketing expenses, and other like intangibles, and monies due from affiliates, officers, directors, employees, shareholders, members or managers) less total liabilities, including but not limited to accrued and deferred income taxes, but excluding the non-current portion of Subordinated Liabilities.

Minimum Tangible Net Worth means, with respect to the Borrower, at any time, the sum of (a) $858,000,000; plus (b) 50% of the aggregate net proceeds received by the Borrower or any of its Subsidiaries after March 31, 1998 in connection with any offering of Stock or Stock Equivalents of the Borrower and its Subsidiaries taken as a whole.

Minimum Tangible Net Worth. With respect to the Servicer as at the end of the fiscal quarter ending on March 31, 2010, $480,000,000, and (b) as at the end of any fiscal quarter during each fiscal year thereafter, the sum of (i) $480,000,000 plus (ii) 75% of the Net Proceeds of all Equity Issuances by the Servicer or any subsidiary of the Servicer (other than Equity Issuances to the Servicer or a subsidiary of the Servicer) after March 31, 2010.

Minimum Tangible Net Worth being defined for purposes of this subsection as (i) $16,000,000.00 at all times from March 31, 2002 through December 30, 2002; (ii) $17,000,000.00 at all times from December 31, 2002 through December 30, 2003; and (iii) thereafter, from the last day of each Fiscal Year of the Consolidated Group through the day prior to the last day of each immediately succeeding Fiscal Year of the Consolidated Group, the Minimum Tangible Net Worth during the immediately preceding period plus $1,000,000.00; and "Tangible Net Worth" being defined for purposes of this subsection as the Consolidated Group's shareholders' equity (including retained earnings) less the book value of all intangible assets as determined solely by Lender on a consistent basis plus the amount of any LIFO reserve plus the amount of any debt subordinated to Lender, all as determined under generally accepted accounting principles applied on a basis consistent with the financial statement dated December 31, 2001 except as set forth herein;

Minimum Tangible Net Worth means total assets less the sum of Intangible Assets and total liabilities.