Maintenance of Tangible Net Worth Clause Samples
The Maintenance of Tangible Net Worth clause requires a party, typically a borrower, to maintain a minimum level of tangible net worth throughout the term of an agreement. This is usually measured by subtracting intangible assets and liabilities from total assets, ensuring the party retains sufficient financial strength. By setting this financial threshold, the clause helps protect the other party—often a lender—by reducing the risk of default due to financial deterioration.
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Maintenance of Tangible Net Worth. The Guarantor shall not permit its Tangible Net Worth at any time to be less than the sum of (x) $750,000,000 and (y) an amount equal to 50% of any Equity Proceeds received by the Guarantor from and after the Reorganization Effective Date.
Maintenance of Tangible Net Worth. The Borrower shall maintain during each Fiscal Quarter a Tangible Net Worth of not less than the Minimum Tangible Net Worth.
Maintenance of Tangible Net Worth. The Company shall not permit at any time Tangible Net Worth to be less than the sum of (a) $472,485,456 plus (b) 75% of the aggregate net proceeds received by the Company or any of its Subsidiaries after October 14, 2014 in connection with any offering of capital stock or other equity interests of the Company or the Subsidiaries, but only to the extent that such net proceeds are not used to redeem existing capital stock or other equity interests of the Company or the Subsidiaries.
Maintenance of Tangible Net Worth. The Tangible Net Worth of the Guarantor, on a consolidated basis and on any given day, shall be equal to or greater than $34,000,000;
Maintenance of Tangible Net Worth. The Sellers, on a consolidated basis, have maintained a Tangible Net Worth of not less than $175,000,000. At no time has MortgageIT individually maintained a Tangible Net Worth at the end of any two consecutive calendar quarters of less than $25,000,000.
Maintenance of Tangible Net Worth. The Seller shall not permit its Tangible Net Worth at any time to be less than [***].
Maintenance of Tangible Net Worth. The Seller shall maintain a Tangible Net Worth on a consolidated basis of not less than (A) prior to July 1, 2004, $13,000,000 and (B) On and after July 1, 2004 (i) $13,000,000 plus (ii) 20% of Seller’s positive quarterly Net Income for each quarter.
Maintenance of Tangible Net Worth. The Limited Guarantor has maintained a Tangible Net Worth of not less than $180,000,000 plus 85% of the net proceeds of any issuance of common or preferred shareholder equity after the completion of the IPO.
Maintenance of Tangible Net Worth. The Tangible Net Worth of Aames Capital shall be $315,000,000 at all times during the term of this Warehouse Agreement.
Maintenance of Tangible Net Worth. The Seller shall not permit its Tangible Net Worth at any time to be less than $90,000,000.