Consolidated Net Worth Sample Clauses
The Consolidated Net Worth clause defines how a company's total net worth is calculated by aggregating the net worth of the parent company and its subsidiaries, after accounting for intercompany transactions and eliminations. In practice, this clause specifies the method for determining the combined equity value, often referencing generally accepted accounting principles (GAAP) and requiring regular financial reporting to ensure compliance. Its core function is to provide a clear and consistent basis for measuring financial health, which is essential for assessing covenant compliance, creditworthiness, or triggering certain contractual rights or obligations.
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Consolidated Net Worth. The Company will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) $80,750,000 plus (b) an aggregate amount equal to 50% of Consolidated Net Income (but only if a positive number) for each completed fiscal quarter as of such time beginning with the fiscal quarter ending December 31, 1998.
Consolidated Net Worth. The Borrower shall maintain a Consolidated Net Worth of not less than $600,000,000 plus ninety percent (90%) of the equity contributions or sales of treasury stock received by the Borrower after the Agreement Execution Date.
Consolidated Net Worth. Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.
Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than the sum of $160,500,000, increased on a cumulative basis as of the end of each fiscal quarter of Borrower, commencing with the fiscal quarter ending December 31, 2006 by an amount equal to 50% of Consolidated Net Income (with no deductions for net losses) for the fiscal quarter then ended plus 100% of the amount of all Equity Issuances after the Closing Date that increase consolidated shareholders’ equity.
Consolidated Net Worth. The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $59,843,400 plus (ii) 50% of Consolidated Net Income (to the extent a positive number) for each fiscal quarter ending after June 30, 2003 plus (iii) 100% of the proceeds of any equity offering (or any debt offering to the extent converted into equity) by the Borrower.
Consolidated Net Worth. Permit Consolidated Net Worth at any time to be less than the sum of (i) $350,000,000 plus (ii) 50% of Consolidated Net Income for each fiscal quarter beginning with the fiscal quarter ending on April 30, 2006 (excluding any fiscal quarter in which Consolidated Net Income is not positive) plus (iii) 85% of the net proceeds of any equity issued by the Borrower after January 31, 2006.
Consolidated Net Worth. Permit Consolidated Net Worth on the last day of any fiscal quarter to be less than the sum of (i) $1,000,000,000 plus (ii) 25% of Consolidated Net Income, if positive, for each fiscal quarter ended after December 31, 2004.
Consolidated Net Worth. The Borrower will not permit Consolidated Net Worth as at the last day of any fiscal quarter of the Borrower to be less than the sum of (a) $261,000,000, plus (b) 15% of its aggregate Consolidated Net Income (but only if a positive number) for the period beginning April 1, 1998 and ending at the end of each fiscal quarter thereafter.
Consolidated Net Worth. The Borrower will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 25% of its Consolidated Net Income (but, in each case, only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31, 2003.
Consolidated Net Worth. The Company will not permit Consolidated Net Worth to be less than $750,000,000.