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.
Appears in 2 contracts
Sources: Credit Agreement (Alpine Income Property Trust, Inc.), Credit Agreement (Alpine Income Property Trust, Inc.)
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) $212,500,000 136,017,557, plus (b) 75% of the aggregate net proceeds received by Parent or any of its Subsidiaries after the First Amendment Effective Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 2 contracts
Sources: Credit Agreement (Alpine Income Property Trust, Inc.), Credit Agreement (Alpine Income Property Trust, Inc.)
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) $212,500,000 136,017,557, 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, 2022Subsidiaries.
Appears in 2 contracts
Sources: Credit Agreement (Alpine Income Property Trust, Inc.), Credit Agreement (Alpine Income Property Trust, Inc.)
Maintenance of Net Worth. The Borrower shall, as of the Closing Date and the last day of each Fiscal QuarterQuarter of the Borrower commencing with the Fiscal Quarter ending June 30, 2017, maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 253,000,000 plus (b) 7585% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 2 contracts
Sources: Credit Agreement (Umh Properties, Inc.), Credit Agreement (Umh Properties, Inc.)
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) $212,500,000 263,312,927, plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after March 31, 2020 in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 2 contracts
Sources: Credit Agreement (CTO Realty Growth, Inc.), Credit Agreement (CTO Realty Growth, Inc.)
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, Quarter maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 $ 168,580,529, plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Second Amendment Effective Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022.Subsidiaries
Appears in 1 contract
Sources: Second Amended and Restated Credit Agreement (Consolidated Tomoka Land Co)
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, Quarter maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 [___________]1, plus (b) 75% of the aggregate net proceeds received by Parent or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent or the Subsidiaries since June 30, 2022Subsidiaries. 1 85% of TNW as of Alpine IPO.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
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) $212,500,000 378,259,050, plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Eighth Amendment Effective Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Sources: Second Amended and Restated Credit Agreement (CTO Realty Growth, Inc.)
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) $212,500,000 163,830,000, 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, 20222021.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, Quarter maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 96,626,249 plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, Quarter maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 124,309,726, plus (b) 75% of the aggregate net proceeds received by Parent or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
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 Borrower465,259,119, Parent or the Subsidiaries since June 30, 2022.plus
Appears in 1 contract
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) $ $212,500,000 252,062,542, plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Third Amendment Effective Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Maintenance of Net Worth. The Borrower shall, as of the Closing Date and the last day of each Fiscal QuarterQuarter of the Borrower commencing with the Fiscal Quarter ending June 30, 2013, maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 152,000,000 plus (b) 7585% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, Quarter maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 26,954,678.00 plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
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) $212,500,000 263,312,927378,259,050, plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after March 31, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Amendment Effective Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022.Subsidiaries.
Appears in 1 contract
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) $212,500,000 465,259,119, plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after June 30, 2024 in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, 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, 2022.102,905,490 plus
Appears in 1 contract
Sources: Credit Agreement
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) $212,500,000 212,500,000, 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.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
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) $212,500,000 163,830,000, 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, 20222021.
Appears in 1 contract
Sources: Credit Agreement (Alpine Income Property Trust, Inc.)
Maintenance of Net Worth. The Borrower shall, shall as of the last day of each Fiscal Quarter, Quarter maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 129,972,198 plus (b) 75% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract
Maintenance of Net Worth. The Borrower shall, as of the Closing Date and the last day of each Fiscal QuarterQuarter of the Borrower commencing with the Fiscal Quarter ending December 31, 2022, maintain a Tangible Net Worth of not less than the sum of (a) $212,500,000 417,516,000 plus (b) 7585% of the aggregate net proceeds received by Parent the Borrower or any of its Subsidiaries after the Closing Date in connection with any offering of Stock or Stock Equivalents of the Borrower, Parent Borrower or the Subsidiaries since June 30, 2022Subsidiaries.
Appears in 1 contract