Consolidated Tangible Net Worth Ratio Sample Clauses

The Consolidated Tangible Net Worth Ratio clause defines a financial covenant that requires a company to maintain a minimum level of tangible net worth relative to its consolidated assets. This ratio is typically calculated by subtracting intangible assets and liabilities from total assets, then comparing the result to a specified benchmark or threshold. By setting this requirement, the clause ensures that the company retains sufficient real, non-intangible equity, thereby protecting lenders or investors from excessive risk due to over-leveraging or asset devaluation.
Consolidated Tangible Net Worth Ratio. Permit the ratio of (i) the aggregate amount of all Indebtedness of the Parent and its Consolidated Subsidiaries, consolidated in accordance with GAAP, plus 100% of Product Acquisition Commitments of the Parent and its Consolidated Subsidiaries that support financings provided by the Lenders, plus 110% of all other Product Acquisition Commitments of the Parent and its Consolidated Subsidiaries, less the present value of related Off-Balance Sheet Receivables (but not more than the related portion of Product Acquisition Commitments), to (ii) Consolidated Tangible Net Worth to be greater than the ratio set forth below during the period corresponding thereto: Ratio Period ----- ------ 5.5:1 March 31, 1998 to June 29, 1998 5.25:1 June 30, 1998 to September 29, 1998 4.75:1 September 30, 1998 to December 30, 1998 4.25:1 December 31, 1998 to March 30, 1999 3.75:1 March 31, 1999 to June 29, 1999 3.5:1 June 30, 1999 and thereafter (d) Schedule 2 of the Credit Agreement is hereby amended by amending the Allowable Amount for Viacom/Paramount under the heading "Acceptable Major Domestic Account Debtors (95%)" to read "6,000,000".
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Consolidated Tangible Net Worth Ratio. The Borrower ------------------------------------- will not permit Consolidated Tangible Net Worth to be less than the sum of $22,500,000 plus, on a cumulative basis, fifty percent (50%) of positive ---- Consolidated Net Income for each fiscal year of the Borrower ending on or after January 2, 1999."
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Consolidated Tangible Net Worth Ratio. At all times, the ratio of (i) the sum of GAAP Indebtedness and Contingent Indebtedness to (ii) the Seller’s Consolidated Tangible Net Worth shall not be more than 10.0 to 1.0.
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Consolidated Tangible Net Worth Ratio. The Borrowers and ------------------------------------- their Subsidiaries, taken as a whole, shall maintain, for (and at all times during) each Fiscal Quarter beginning with the Initial Fiscal Quarter, a Consolidated Tangible Net Worth of not less than (w) eighty-five percent (85%) of Consolidated Tangible Net Worth as of the Effective Date plus (x) eighty- ---- five percent (85%) of the net proceeds resulting from any exercise of the underwriters' overallotment option in connection with the Parent Borrower Public Offering plus (y) fifty percent (50%) of Consolidated Net Income ---- (computed on a cumulative basis for each Fiscal Quarter during the term of this Agreement, from the Initial Fiscal Quarter to the date of determination plus (z) one hundred percent (100%) of the net proceeds from ---- the issuance for cash of any Capital Stock of the Borrowers, after the later of the Effective Date and the closing of any exercise of the underwriters' overallotment option in connection with the Parent Borrower Public Offering.
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Related to Consolidated Tangible Net Worth Ratio

  • Consolidated Tangible Net Worth The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any ▇▇▇▇-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Minimum Consolidated Tangible Net Worth Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded.

  • Consolidated Net Worth The Company will not permit Consolidated Net Worth at any time to be less than US$165,000,000 plus the cumulative sum of 25% of Consolidated Net Earnings (but only if a positive number) for each fiscal quarter ending after June 30, 2004.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

  • Minimum Consolidated Net Worth Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.