Maintenance of Net Worth Sample Clauses

Maintenance of Net Worth. The Borrower shall, as of the last day of each Fiscal Quarter, maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 plus (b) 75% of the aggregate net proceeds received by Parent or any of its Subsidiaries in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent or the Subsidiaries since June 30, 2022.

Maintenance of Net Worth. The Borrower shall maintain at all times a Net Worth of not less than an amount equal to the sum of (i) $350,000,000 plus (ii) 50% of Consolidated Net Income (to the extent such amount is a positive number) for each Fiscal Quarter ending after June 30, 2002.

Maintenance of Net Worth. The Parent shall at all times maintain an Adjusted Net Worth of not less than the Minimum Tangible Net Worth.

Maintenance of Net Worth. Permit Consolidated Net Worth at any time to be less than 75% of its Consolidated Net Worth of the Company and its consolidated subsidiaries as at March 31, 2001 plus 50% of Consolidated Net Income for each full fiscal quarter after March 31, 2001 (without any deduction for any such fiscal quarter in which such Consolidated Net Income is a negative number).

Maintenance of Net Worth. The Borrower will not permit Consolidated Net Worth to be less than $175,000,000.

Maintenance of Net Worth. As of the last day of each Fiscal Quarter of the Borrower (commencing with the Fiscal Quarter ending March 31, 2018), AF REIT shall maintain a Net Worth of not less than the sum of (a) $1,375,000,000 plus (b) 80% of the aggregate net cash proceeds received by AF REIT after December 31, 2017 in connection with any offering of Stock or Stock Equivalents.

Maintenance of Net Worth. Permit Consolidated Net Worth of the Borrower at any time to be less than the sum of (i) $475,000,000 plus (ii) an amount equal to 50% of the sum of Consolidated Net Income (if positive) of the Borrower for each fiscal quarter ending after March 31, 2003.

Maintenance of Net Worth. The Borrower will not permit Consolidated Net Worth at any time to be less than the sum of (i) $110,000,000, plus (ii) 90% of positive Consolidated Net Income earned during each fiscal year, commencing with the fiscal year ending on October 3, 2008, plus (iii) 75% of the net cash proceeds resulting from any issuance of capital stock by the Borrower.

Maintenance of Net Worth. The Borrower shall at all times maintain a Tangible Net Worth of not less than the sum of (a) $834,451,000 plus (b) 75% of the aggregate net proceeds received by the Borrower or any of its Subsidiaries after December 31, 2020 in connection with any offering of Stock or Stock Equivalents of the Borrower or the Subsidiaries that results in an increase of Tangible Net Worth, to the extent such Stock or Stock Equivalents are included in stockholders’ equity on the Borrower’s consolidated balance sheet (but excluding such offerings or issuances used to repay existing forms of Stock and Stock Equivalents). Notwithstanding the foregoing, the Borrower may elect upon delivering written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate for any Fiscal Quarter during which the Borrower shall have completed a Material Acquisition, and provided that no Default or Event of Default has occurred and is continuing that for purposes of clause (a) and (c) above the Borrower may exceed a ratio of 0.60 to 1.00, but shall in no event exceed a ratio of 0.65 to 1.00 for such Fiscal Quarter in which such Material Acquisition occurred and the next succeeding Fiscal Quarter (the “Leverage Ratio Increase Period”); provided that (i) the Borrower may not elect more than two Leverage Ratio Increase Periods during the term of this Agreement and (ii) any such Leverage Ratio Increase Periods shall be non-consecutive.