Common use of Consolidated Net Worth Clause in Contracts

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.

Appears in 2 contracts

Sources: Credit Agreement (Hub International LTD), Non Revolving Credit Agreement (Hub International LTD)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Consolidated Net Worth at any time to be less than $50,000,000 plus the cumulative sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 2540% of its Consolidated Net Income (but, in each case, but only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31subsequent to June 30, 20031997.

Appears in 2 contracts

Sources: Note Purchase Agreement (Northwest Pipe Co), Note Purchase Agreement (Northwest Pipe Co)

Consolidated Net Worth. The Borrower Company 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 25100% of its Consolidated Net Income (butthe amount thereof as of September 30, in each case, only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31, 20031997.

Appears in 2 contracts

Sources: Note Purchase Agreement (Energy Network Inc), Note Purchase Agreement (CTG Resources Inc)

Consolidated Net Worth. The Borrower Company will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000, Two Hundred Fifty Million Dollars ($250,000,000) plus (b) an aggregate amount equal to 2550% 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 December 31, 20032000." (b) SECTION 10.B,

Appears in 1 contract

Sources: Note Agreement (Genencor International Inc)

Consolidated Net Worth. The Borrower Company will not, not at any time, time permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000, plus $225,000,000 PLUS (b) an aggregate amount equal to 2550% of its Consolidated Net Income Earnings (but, in each case, only if a positive number) for each completed fiscal quarter year beginning with the fiscal quarter ended March 31year ending September 30, 20032002.

Appears in 1 contract

Sources: Note Purchase Agreement (Woodward Governor Co)

Consolidated Net Worth. The Borrower Company will not, at any time, permit Adjusted Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000$85,000,000, plus and (b) an aggregate amount equal to 2550% of its Consolidated Adjusted Net Income (but, in each case, only if a positive numberincome and not loss) for each completed fiscal quarter beginning with year ending after the fiscal quarter year ended March December 31, 20031998.

Appears in 1 contract

Sources: Note Purchase and Guarantee Agreement (Resortquest International Inc)

Consolidated Net Worth. The Borrower Company and the Co-Obligors will not, at any time, not permit Consolidated Net Worth at any time to be less than (i) $160,000,000 plus (ii) the cumulative sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 2550% of its Consolidated Net Income (but, in each case, but only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31ending after June 30, 20032001.

Appears in 1 contract

Sources: Note Purchase Agreement (Chicago Bridge & Iron Co N V)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Consolidated Net Worth at any time to be less than (i) $800,000,000 plus (ii) the cumulative sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 2550% of its Consolidated Net Income (but, in each case, but only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended ending after March 31, 20032001.

Appears in 1 contract

Sources: Note Purchase Agreement (Big Lots Inc)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Consolidated Net Worth to be an amount less than the sum of (a) U.S.$200,000,000, $74,261,100 plus (b) an aggregate amount equal to 2550% of its cumulative Consolidated Net Income (Income, but, in each case, only if Consolidated Net Income is a positive number) , for each completed fiscal quarter beginning with the fiscal quarter ended March December 31, 20031998.

Appears in 1 contract

Sources: Note Purchase Agreement (Analysts International Corp)

Consolidated Net Worth. The Borrower Company will not, not permit at any time, permit time its Adjusted Consolidated Net Worth as of the end of any fiscal year to be less than $130,000,000 plus the cumulative sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 2550% of its Consolidated Net Income (but, in each case, but only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31year ending after June 30, 20032001.

Appears in 1 contract

Sources: Note Purchase Agreement (Elkcorp)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Adjusted Consolidated Net Worth at any time to be less than $420,000,000 plus the cumulative 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, but only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31ending after September 30, 20032000.

Appears in 1 contract

Sources: Note Purchase Agreement (Lincare Holdings Inc)

Consolidated Net Worth. The Borrower Company will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000$95,000,000, plus (b) an aggregate amount equal to 2550% of its Consolidated Net Income (but, in each case, only if a positive number) for each completed fiscal quarter beginning with the year and any interim fiscal quarter ended March period subsequent to August 31, 20031997.

Appears in 1 contract

Sources: Note Purchase Agreement (Sonic Corp)

Consolidated Net Worth. The Borrower and the Guarantor will not, at any time, not permit Consolidated Net Worth at any time to be less than the sum of (ai) U.S.$200,000,000$41,000,000 PLUS (ii) on a cumulative basis, plus fifty percent (b50%) an aggregate amount equal to 25% of its positive Consolidated Net Income (but, in each case, only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended March 31December 25, 20031999.

Appears in 1 contract

Sources: Revolving Credit Agreement (Charlotte Russe Holding Inc)

Consolidated Net Worth. The Borrower Company will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000$27,000,000, plus (b) an aggregate amount equal to 2530% of its Consolidated Net Income (but, in each case, only if a positive number) for each completed fiscal quarter year beginning with the fiscal quarter year ended March July 31, 20031998.

Appears in 1 contract

Sources: Note Purchase Agreement (Dakota Growers Pasta Co)

Consolidated Net Worth. The Borrower Company will not, not permit at any time, permit time its Adjusted Consolidated Net Worth to be less than $125,000,000 plus the cumulative sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 2550% of its Consolidated Net Income (but, in each case, but only if a positive number) for each completed fiscal quarter beginning with the fiscal quarter ended ending after March 31, 20032001.

Appears in 1 contract

Sources: Note Purchase Agreement (Butler Manufacturing Co)

Consolidated Net Worth. The Borrower will Company shall 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 2575% of its Consolidated Net Income (but, in each case, only if a positive number) for each Worth calculated as of the end of the Company's most recently completed fiscal quarter beginning with the fiscal quarter ended March 31, 2003year.

Appears in 1 contract

Sources: Note Purchase Agreement (Chalone Wine Group LTD)

Consolidated Net Worth. The Borrower will not, at any time, Not permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000, $617,700,000 plus (b) an aggregate amount equal to 2550% of its Consolidated consolidated Net Income (but, in each case, only if a positive numberpositive) for each completed fiscal quarter beginning with the fiscal quarter ended March Fiscal Quarter commencing after December 31, 20032004 plus (c) 50% of net equity proceeds received after December 31, 2004.

Appears in 1 contract

Sources: Credit Agreement (Delphi Financial Group Inc/De)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Adjusted Consolidated Net Worth at any time to be less than $175,000,000 plus the cumulative sum of (a) U.S.$200,000,000, plus (b) an aggregate amount equal to 2550% of its Consolidated Net Income (but, in each case, only if without reduction for a positive numbernet deficit) for each completed fiscal quarter beginning with the fiscal quarter ended March ending after December 31, 20031998.

Appears in 1 contract

Sources: Note Purchase Agreement (Belden Inc)

Consolidated Net Worth. The Borrower Company will not, not at any time, time permit Consolidated Net Worth to be less than the sum at such time of (a) U.S.$200,000,000, plus US$5,250,000,000 and (b) an aggregate amount equal to 2550% of its the Company's Consolidated Net Income (but, in each case, only if a positive number) for each completed fiscal quarter beginning of the Company for which Consolidated Net Income is positive and for which financial statements shall have been delivered under Section 5.01(a) or (b) commencing with the fiscal quarter ended March 31, 2003during which the Spin-Off shall have been consummated.

Appears in 1 contract

Sources: Credit Agreement (Expedia, Inc.)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Consolidated Net Worth as at the last day of any fiscal quarter of the Company to be less than the sum of (a) U.S.$200,000,000$261,000,000, plus (b) an aggregate amount equal to 2515% of its aggregate Consolidated Net Income (but, in each case, but only if a positive number) for the period beginning April 1, 1998 and ending at the end of each completed fiscal quarter beginning with the fiscal quarter ended March 31, 2003thereafter.

Appears in 1 contract

Sources: Master Shelf Agreement (Lennox International Inc)

Consolidated Net Worth. The Borrower Company will not, at any time, not permit Consolidated Net Worth at any time to be less than the sum of (a) U.S.$200,000,000, $270,000,000 plus (b) an the aggregate amount equal to 25% sum of its Consolidated the Fiscal Quarter Net Income (but, in each case, only if a positive number) Worth Increase Amounts calculated for each completed fiscal quarter beginning with of the fiscal quarter ended March 31, 2003Company.

Appears in 1 contract

Sources: Credit Agreement (Photronics Inc)

Consolidated Net Worth. The Borrower Company will not, at any time, permit Consolidated Net Worth to be less than the sum of (a) U.S.$200,000,000$34,000,000, plus (b) an aggregate amount equal to 2540% of its aggregate Consolidated Net Income Earnings (but, in each case, but only if a positive number) for each the period beginning on the date of Closing and ending at the end of the Company's most recently completed fiscal quarter beginning with the fiscal quarter ended March 31, 2003quarter.

Appears in 1 contract

Sources: Note Purchase Agreement (Hickory Tech Corp)