Maintain Consolidated Tangible Net Worth Clause Samples

Maintain Consolidated Tangible Net Worth. Maintain as of the end of each fiscal quarter a Consolidated Tangible Net Worth of not less than the following amounts specified below:

Maintain Consolidated Tangible Net Worth. Maintain as of the end of each fiscal quarter of Company (commencing with the quarter ending October 31, 2003), Consolidated Tangible Net Worth of not less than the following amounts during the periods specified below, plus in each case, the Equity Offering Adjustment, the Subordinated Debt Adjustment, the Asset Adjustment, if any, and the Net Income Adjustment: October 31, 2003 $ 320,000,000 January 31, 2004 and each quarter thereafter $ 217,500,000 4. Existing Schedule 1.1 to the Credit Agreement is deleted in its entirety and a replacement Schedule 1.1 in the form of Attachment I to this First Amendment is inserted in its place. 5. Existing Schedule 1.2 to the Credit Agreement is deleted in its entirety and a replacement Schedule 1.2 in the form of Attachment II to this First Amendment is inserted in its place. 6. This First Amendment shall become effective according to the terms hereof and as of such date (the "First Amendment Effective Date") that the Company shall have satisfied the following conditions: (a) Agent shall have received: (i) counterpart originals of this First Amendment, in each case duly executed and delivered by Company and the requisite Banks, in form satisfactory to Agent and the Banks and counterpart originals of a Reaffirmation of Guaranty, duly executed and delivered by the Guarantors, in form satisfactory to Agent and Banks; (ii) renewal and replacement Revolving Credit Notes (the "New Notes") substantially in the form of Exhibit B to the Credit Agreement, payable to the order of each of the Revolving Credit Banks previously having requested Revolving Credit Notes in the face amount of each such Bank's Percentage of the Revolving Credit as set forth in replacement Schedule 1.2 attached as Attachment II hereto (iii) certified copies of resolutions of the Board of Directors of each of the Company and the Guarantors authorizing, as applicable, the execution and delivery of this First Amendment, the New Notes and the other Loan Documents required under this clause (a) and the performance by the Company and the undersigned Guarantors of each of their respective obligations under the Credit Agreement, as amended by this First Amendment; and (iii) such other documents as Agent may reasonably request, in form and substance acceptable to Banks. (b) Company shall have paid to Agent, for distribution to the Banks as applicable, (i) all interest, Fees and other amounts, if any, owed to the Agent and the Banks and accrued to the First Amendm...

Maintain Consolidated Tangible Net Worth. Maintain as of the end of each fiscal quarter of Company, Consolidated Tangible Net Worth of $175,000,000, plus in each case, the Equity Offering Adjustment, the Subordinated Debt Adjustment, the Asset Adjustment, if any, and the Net Income Adjustment. (ii) Section 6.16(b) of the Credit Agreement is amended by deleting the language set forth therein and inserting the following in its place: (b) With respect to real property located in the United States that is subject to a lease entered into by the Company or any Domestic Subsidiary after the Effective Date, not later than sixty (60) days after the later of (i) the execution of the applicable lease for such property or (ii) the Company or the applicable Domestic Subsidiary becoming the lessor (by assignment of the lease, acquisition of the current lessor or its assets or in any other manner whatsoever) under the applicable lease for such property, the Company shall execute or cause to be executed a lessor’s acknowledgement and consent in form and substance reasonably acceptable to Agent and the Majority Banks (unless waived by Agent and Majority Banks); (iii) Section 11.11(b) of the Credit Agreement is amended by deleting the language set forth therein and inserting the following in its place: (b) The Banks irrevocably authorize the Agent, at its option and in its discretion, to (x) release any Lien or other interest granted to or held by the Agent upon any Collateral (i) upon termination of the Revolving Credit Aggregate Commitment and payment in full of all Indebtedness payable under this Agreement and under any other Loan Document; (ii) constituting property sold or to be sold or disposed of as part of or in connection with any disposition expressly permitted hereunder; (iii) constituting property in which a Loan Party owned no interest at the time the Lien was granted or at any time thereafter; or (iv) if approved, authorized or ratified in writing by the Majority Banks, or all the Banks, as the case may be, as provided in Section 12.10 and (y) release any Guaranty granted to or held for the benefit of the Banks as the result of the sale, transfer or other disposition of the Guarantor, to the extent such sale, transfer or other disposition is permitted under the terms of this Agreement. Upon request by the Agent at any time, the Banks will confirm in writing the Agent’s authority to release particular types or items of Collateral or any Guaranty pursuant to this Section 11.11(b).