Common use of Minimum Consolidated Net Worth Clause in Contracts

Minimum Consolidated Net Worth. Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.

Appears in 4 contracts

Sources: Credit Agreement (Interpublic Group of Companies Inc), Credit Agreement (Interpublic Group of Companies Inc), Credit Agreement (Interpublic Group of Companies Inc)

Minimum Consolidated Net Worth. At no time will Consolidated Net Worth will at no time be less than Minimum Consolidated Net Worth. "Minimum Consolidated Net Worth" means $550,000,000 plus 25% of the consolidated net income of the Borrower 2,650,000,000; provided that such amount shall be adjusted at the end of each fiscal quarter for each fiscal year Fiscal Quarter commencing after with the fiscal year Fiscal Quarter ending December on March 31, 1994.2001, as follows:

Appears in 3 contracts

Sources: 364 Day Revolving Credit Agreement (Masco Corp /De/), 364 Day Revolving Credit Agreement (Masco Corp /De/), Revolving Credit Agreement (Masco Corp /De/)

Minimum Consolidated Net Worth. Permit Consolidated Net Worth will at no any time to be less than the sum of (a) $550,000,000 plus 25235,000,000 and (b) an amount equal to 50% of the consolidated Consolidated Net Income earned in each full Fiscal Quarter ending after June 30, 2003 (with no reduction for a net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994loss in any such Fiscal Quarter).

Appears in 2 contracts

Sources: Credit Agreement (Teletech Holdings Inc), Credit Agreement (Teletech Holdings Inc)

Minimum Consolidated Net Worth. Maintain a minimum Consolidated Net Worth will at no time be less than of (i) $550,000,000 150,000,000 plus 25% (ii) on a cumulative basis, an amount equal to fifty percent (50%) of the consolidated net income Consolidated Net Income of Borrower and its Subsidiaries in each quarter thereafter, commencing with the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 19942005.

Appears in 2 contracts

Sources: Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc)

Minimum Consolidated Net Worth. The Borrower will at all times maintain Consolidated Net Worth will at no time be of not less than (i) $550,000,000 200,308,000 plus 25(ii) 50% of the consolidated net income of the Borrower at the end of Consolidated Net Income (if positive) earned in each fiscal quarter for each fiscal year commencing after beginning with the fiscal year quarter ending December 31June 30, 19942004.

Appears in 2 contracts

Sources: Credit Agreement (Headwaters Inc), Credit Agreement (Headwaters Inc)

Minimum Consolidated Net Worth. The Borrower will at all ------------------------------ times maintain Consolidated Net Worth will at no time be of not less than the sum of (i) $550,000,000 74,300,000, plus 25(ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 1999 (without deduction for losses) and (iii) 100% of the consolidated net income cash proceeds of equity issued by the Borrower at the end of each fiscal quarter for each fiscal year commencing on or after the fiscal year ending December 31July 1, 19941999.

Appears in 2 contracts

Sources: Credit Agreement (Transit Group Inc), Acquisition Credit Agreement (Transit Group Inc)

Minimum Consolidated Net Worth. Consolidated Net Worth will shall be at no time be less than least $550,000,000 715,000,000 plus 2550% of the aggregate positive Consolidated Net Income (excluding any consolidated net income loss) of the Borrower at the end of and its Consolidated Subsidiaries for each fiscal quarter for each fiscal year commencing ending after the fiscal year ending December 31, 19941996.

Appears in 2 contracts

Sources: Credit Agreement (New Beverly Holdings Inc), Credit Agreement (Beverly Enterprises Inc /De/)

Minimum Consolidated Net Worth. Permit Consolidated Net Worth will at no any time to be less than (x) $550,000,000 450,000,000 plus (y) 25% of the consolidated net income of the Borrower at the end of aggregate Consolidated Net Income for each full fiscal quarter for each fiscal year commencing after which such Consolidated Net Income is positive that shall have been completed during the fiscal year ending December 31, 1994period from the Closing Date to the date of determination.

Appears in 2 contracts

Sources: 364 Day Competitive Advance, Revolving Credit and Guaranty Agreement (Dentsply International Inc /De/), Credit Agreement (Dentsply International Inc /De/)

Minimum Consolidated Net Worth. Consolidated Net Worth will not at no any time be less than the sum of (i) $550,000,000 plus 25505,300,000 and (ii) 50% of the consolidated net income (if positive) of the Borrower at the end of each fiscal quarter Company and its Consolidated Subsidiaries for each fiscal year Fiscal Quarter ending prior to such time, commencing after with the fiscal year Fiscal Quarter ending December 31, 19941995.

Appears in 2 contracts

Sources: Credit Agreement (United States Surgical Corp), Credit Agreement (United States Surgical Corp)

Minimum Consolidated Net Worth. Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower not be, at the end of each fiscal quarter any Fiscal Year, less than the sum of (i) $282,000,000 plus (ii) an amount equal to 50% of Consolidated Net Income (if positive) for each fiscal year the period (taken as one accounting period) commencing after on February 23, 1997 and ending on the fiscal year ending December 31, 1994last day of such Fiscal Year.

Appears in 1 contract

Sources: Credit Agreement (Shopko Stores Inc)

Minimum Consolidated Net Worth. Borrower shall at all times maintain a Consolidated Net Worth will of at no time be less than least an amount equal to the sum of (i) $550,000,000 65,000,000, plus 25(ii) beginning with the fiscal quarter ending November 30, 1995, 75% of the consolidated net income of the Borrower at the end of each fiscal quarter Consolidated Net Income for each fiscal year commencing after the fiscal year ending December 31quarter thereafter on a cumulative basis, 1994without giving effect to any losses.

Appears in 1 contract

Sources: Loan and Security Agreement (Rhodes Inc)

Minimum Consolidated Net Worth. Consolidated Net Worth will of at no time be less than least $550,000,000 plus 25% 215,000,000 as of the consolidated net income of the Borrower at the end of each any fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994of Borrower.

Appears in 1 contract

Sources: Loan and Security Agreement (Vermont Transit Co Inc)

Minimum Consolidated Net Worth. The Borrower shall at all times on a consolidated basis for the Borrower and its Subsidiaries maintain Consolidated Net Worth will at no time to be not less than the sum of: (i) $550,000,000 plus 251,250,000,000 (ii) 50% of the consolidated net income of the Borrower at the end of (if positive) for each fiscal quarter for each fiscal year commencing after ending on September 30, 2005 and thereafter, and (iii) additions to equity to the fiscal year ending December 31Borrower, 1994including, any Equity Issuance.

Appears in 1 contract

Sources: Revolving Credit Agreement (Bok Financial Corp Et Al)

Minimum Consolidated Net Worth. Consolidated Net Worth will shall be at no time be less than least $550,000,000 690,000,000 plus 2550% of the aggregate positive Consolidated Net Income (excluding any consolidated net income loss) of the Borrower at the end of and its Consolidated Subsidiaries for each fiscal quarter for each fiscal year commencing ending after the fiscal year ending December 31January 1, 19941998.

Appears in 1 contract

Sources: Credit Agreement (Beverly Enterprises Inc)

Minimum Consolidated Net Worth. The Borrower will at all times maintain Consolidated Net Worth will at no time be of not less than the sum of (i) $550,000,000 494,242,000, plus 25(ii) 75% of Consolidated Net Income (if positive) earned in each fiscal quarter ending subsequent to the Effective Date, plus (iii) 90% of any amount recorded as net proceeds on the consolidated net income balance sheet of the Borrower at from the end issuance of each fiscal quarter for each fiscal year commencing after any equity subsequent to the fiscal year ending December 31, 1994Effective Date.

Appears in 1 contract

Sources: Credit Agreement (Shaw Group Inc)

Minimum Consolidated Net Worth. Consolidated Net Worth will at no time be less than an amount equal to the sum of (i) $550,000,000 560,000,000 plus 25(ii) an amount equal to 50% of the consolidated net income Consolidated Net Income for each fiscal quarter of the Borrower at the end of each fiscal quarter for each fiscal year commencing ending after the fiscal year ending December 31, 19942004 but on or prior to the date of determination, in each case, for which Consolidated Net Income is positive (but with no deduction on account of negative Consolidated Net Income for any fiscal quarter of the Borrower).

Appears in 1 contract

Sources: Credit Agreement (Carlisle Companies Inc)

Minimum Consolidated Net Worth. The Borrower will at all times maintain Consolidated Net Worth will at no time be of not less than the sum of (i) $550,000,000 306,850,000, plus 25(ii) 75% of Consolidated Net Income (if positive) earned in each fiscal quarter ending subsequent to the Closing Date, plus (iii) 90% of any amount recorded on the consolidated net income balance sheet of the Borrower at from the end issuance of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994any equity.

Appears in 1 contract

Sources: Credit Agreement (Shaw Group Inc)

Minimum Consolidated Net Worth. Permit Consolidated Net Worth will at no any time to be less than $550,000,000 plus 25% 750,000,000 as of the consolidated net income close of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31September 30, 19942001 (the "First Fiscal Year") and, as of the close of each fiscal year thereafter, the sum of (i) $750,000,000 plus (ii) 50% of Consolidated Net Income (to the extent a positive number) of the Borrower and its Consolidated Subsidiaries for each of the fiscal years ending after the First Fiscal Year.

Appears in 1 contract

Sources: Credit, Security, Guaranty and Pledge Agreement (Genesis Health Ventures Inc /Pa)

Minimum Consolidated Net Worth. The Borrower’s Consolidated Net Worth will at no any time shall not be less than the sum of (i) $550,000,000 146,000,000 plus 25% of (ii) beginning with the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 19942005, 50% of Consolidated Net Income (to the extent a positive number) for such fiscal quarter and for each fiscal quarter thereafter.

Appears in 1 contract

Sources: Credit Agreement (Calgon Carbon Corporation)

Minimum Consolidated Net Worth. The Borrower will at all times maintain Consolidated Net Worth will at no time be of not less than (i) $550,000,000 225,000,000 plus 25(ii) 75% of the consolidated net income of the Borrower at the end of Consolidated Net Income (if positive) earned in each fiscal quarter for each fiscal year commencing after beginning with the fiscal year quarter ending December 31September 30, 19942005 plus (iii) the amount of all Net Cash Proceeds resulting from issuances of the Borrower's or any Subsidiary's capital stock or other equity interests to a Person other than the Borrower or any Subsidiary.

Appears in 1 contract

Sources: Credit Agreement (Res Care Inc /Ky/)

Minimum Consolidated Net Worth. The Borrower will maintain Consolidated Net Worth will at no time be less than $550,000,000 plus 25% Worth, measured as of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year Fiscal Quarter, commencing after with the fiscal year ending Fiscal Quarter ended December 31, 19942011, of not less than $85,000,000.

Appears in 1 contract

Sources: Credit Agreement (Trex Co Inc)

Minimum Consolidated Net Worth. Permit Consolidated Net Worth will at no any time to be less than (x) $550,000,000 300,000,000 plus (y) 25% of the consolidated net income of the Borrower at the end of aggregate Consolidated Net Income for each full fiscal quarter for each fiscal year commencing after which such Consolidated Net Income is positive that shall have been completed during the fiscal year ending December 31, 1994period from the Closing Date to the date of determination.

Appears in 1 contract

Sources: Competitive Advance, Revolving Credit and Guaranty Agreement (Dentsply International Inc /De/)

Minimum Consolidated Net Worth. The Borrower will at all times maintain Consolidated Net Worth will at no time be of not less than (i) $550,000,000 175,000,000 plus 25(ii) 75% of the consolidated net income of the Borrower at the end of Consolidated Net Income (if positive) earned in each fiscal quarter for each fiscal year commencing after beginning with the fiscal year quarter ending December March 31, 19942004 plus (iii) the amount of all Net Cash Proceeds resulting from issuances of the Borrower's or any Subsidiary's capital stock or other equity interests to a Person other than the Borrower or any Subsidiary.

Appears in 1 contract

Sources: Credit Agreement (Res Care Inc /Ky/)

Minimum Consolidated Net Worth. The Borrower will at all times maintain Consolidated Net Worth will at no time be of not less than (i) $550,000,000 375,000,000 plus 25(ii) 75% of the consolidated net income of the Borrower at the end of Consolidated Net Income (if positive) earned in each fiscal quarter for each fiscal year commencing after beginning with the fiscal year quarter ending December 31September 30, 19942009 plus (iii) the amount of all Net Cash Proceeds resulting from issuances of the Borrower’s or any Subsidiary’s Capital Stock to a Person other than the Borrower or any Subsidiary.

Appears in 1 contract

Sources: Credit Agreement (Res Care Inc /Ky/)