Common use of Consolidated Tangible Net Worth Clause in Contracts

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31, 2022, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds from any Equity Issuances after the Closing Date.

Consolidated Tangible Net Worth. Permit At all times Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower shall be greater than or equal to be less than the sum of (a) $590,774,332.00393,914,141, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31September 24, 2022, 2000 by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended (without deductions for any losses) plus 50100% of amount of all the Net Cash Proceeds from any Equity Issuances after Issuance subsequent to the Closing Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00181,470,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31February 28, 2022, 2003 by an amount equal to the sum of (i) 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50subsequent to the Closing Date and (ii) 75% of amount of all Net Cash Proceeds net cash proceeds from any Equity Issuances after occurring subsequent to the Closing Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00160,000,000, increased on a cumulative basis as of the end of each fiscal quarter of the BorrowerCompany, commencing with the fiscal quarter ending March 31September 30, 20222010, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds from any Equity Issuances after the Closing Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00258,500,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March December 31, 20222015, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds proceeds from any Equity Issuances after the Closing Date.

Consolidated Tangible Net Worth. Permit The Borrower will, from the date of this Agreement through April 30, 1999 maintain a Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be no less than the sum of $590,774,332.002,800,000.00. Thereafter, increased on a cumulative basis as of the end of each subsequent fiscal quarter year of the Borrower, commencing with the fiscal quarter ending March 31, 2022, Borrower said Consolidated Tangible Net Worth must increase by and be maintained thereafter at an amount equal to the prior year's Consolidated Tangible Net Worth plus the greater of (x) $500,000.00 or (y) fifty percent (50% %) of the Consolidated Net Income (to the extent positive) of Borrower for the applicable fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds from any Equity Issuances after the Closing Dateyear.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00336,679,701, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31, 20222019, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds from any Equity Issuances after the Closing Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00375,547,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31February 28, 2022, 2009 by an amount equal to the sum of (i) 50% of Consolidated Net Income (to the extent positive) for the each such fiscal quarter then ended plus 50and (ii) 75% of amount of all Net Cash Proceeds net cash proceeds from any Equity Issuances after the Closing Dateoccurring subsequent to November 30, 2008.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of at any fiscal quarter of the Borrower time to be less than the sum of $590,774,332.0018,000,000, increased on a cumulative basis as of the end of each fiscal quarter year of the BorrowerBorrowers, commencing with the fiscal quarter year ending March 31, 20222017, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter year then ended plus 50% of amount of all Net Cash Proceeds from any Equity Issuances after the Closing Dateended.

Consolidated Tangible Net Worth. Permit From and after March 30, 2015, Borrowers’ Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to shall not be less than the sum of $590,774,332.00160,000,000.00, increased on a cumulative basis and as of the end October 1 of each fiscal quarter of the Borroweryear, commencing with the fiscal quarter ending March 31October 1, 20222015, by an amount equal to 50% ten percent (10%) of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% immediately preceding Fiscal Year, but which amount shall not be decreased in the event of a Consolidated Net Loss for any Fiscal Year. The amount of all Borrower’s Consolidated Tangible Net Cash Proceeds from any Equity Issuances after Worth shall be tested and reported to Lender as of the Closing Datelast day of each Fiscal Quarter.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00208,500,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31September 30, 20222013, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds proceeds from any Equity Issuances after the Closing Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00, 309,452,000 increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March December 31, 20222010, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of the proceeds of all Net Cash Proceeds from any issuances of Equity Issuances Interests after the Closing Date.

Consolidated Tangible Net Worth. Permit The Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower shall at all times be greater than or equal to be less than $730,900,000, increased by the sum of $590,774,332.00of, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31September 30, 20222001, by (i) an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50(ii) an amount equal to 100% of amount of all the Net Cash Proceeds from any Equity Issuances Issuance occurring after the Closing Effective Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of at any fiscal quarter of the Borrower time to be less than the sum of $590,774,332.00120,000,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31September 30, 2022, 2005 by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50100% of the amount of the net cash proceeds from all Net Cash Proceeds from any Equity Issuances occurring after the Closing Date.

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.00195,000,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March May 31, 2022, 2004 by an amount equal to the sum of (i) 50% of Consolidated Net Income (to the extent positive) for the each such fiscal quarter then ended plus 50and (ii) 75% of amount of all Net Cash Proceeds net cash proceeds from any Equity Issuances after occurring subsequent to February 28, 2004. 9. A new Section 11.20 is hereby added to the Closing Date.Credit Agreement to read as follows:

Consolidated Tangible Net Worth. Permit Consolidated Tangible Net Worth as of the end of any fiscal quarter of the Borrower to be less than the sum of $590,774,332.001,000,000,000, increased on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31June 30, 20222025, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50% of amount of all Net Cash Proceeds from any Equity Issuances after the Closing Restatement Effective Date.

Consolidated Tangible Net Worth. Permit The Consolidated ------------------------------- Tangible Net Worth as of the end of shall not at any fiscal quarter of the Borrower to time be less than $273,103,000, increased by the sum of $590,774,332.00, increased (i) on a cumulative basis as of the end of each fiscal quarter of the Borrower, commencing with the fiscal quarter ending March 31June 30, 20221999, by an amount equal to 50% of Consolidated Net Income (to the extent positive) for the fiscal quarter then ended plus 50(ii) an amount equal to 100% of amount of all the Net Cash Proceeds from any Equity Issuances Issuance occurring after the Closing Date.