Common use of Minimum Consolidated Tangible Net Worth Clause in Contracts

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its Consolidated Tangible Net Worth to be less than, as of the last day of any fiscal quarter, an amount equal to $190,000,000.00 plus the sum for each fiscal quarter ending after December 31, 2007 of 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrower."

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its Permit at the end of any Fiscal Quarter Consolidated Tangible Net Worth to be less than, as than (a) - $13,627,000 plus (b) 50% of the last day of any fiscal quarter, an amount equal to $190,000,000.00 plus the sum Consolidated Net Income for each fiscal quarter Fiscal Quarter ending after December 31July 2, 2007 of 1999 (not to be reduced by any losses incurred) plus (c) 50% of the net income, if positive, proceeds from the issuance of any equity securities of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrowerafter July 2, 1999."

Minimum Consolidated Tangible Net Worth. The Borrower shall will not permit allow its Consolidated Tangible Net Worth to ever be less thanthan the sum of (i) $48,000,000, plus (ii) as of the last day end of any fiscal quarter, an amount equal to $190,000,000.00 plus the sum for each fiscal quarter beginning with the fiscal quarter ending after December 31June 30, 2007 of 2001, 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis Borrower's Consolidated Net Income for each such fiscal quarter plus an amount equal to then ended (but only if positive) and (iii) 75% of the net proceeds received by Borrower from the issuance of any issuance of equity by securities after the BorrowerEffective Date."

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its will at all times maintain Consolidated Tangible Net Worth to be of not less than, as of the last day of any fiscal quarter, an amount equal to $190,000,000.00 plus than the sum for each fiscal quarter ending of (i) $87,000,000, plus (ii) fifty percent (50%) of Consolidated Net Income after December 31, 2007 2008 (taken as one accounting period), but excluding from such calculation of 50% Consolidated Net Income for purposes of this clause (ii) any quarter in which Consolidated Net Income is negative, measured as of the net incomeend of each Fiscal Quarter commencing with the Fiscal Quarter ending September 30, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrower2009."

Minimum Consolidated Tangible Net Worth. The As of the end of each fiscal quarter, the Borrower shall will not permit its Consolidated Tangible Net Worth to be less thanthan $62,090,000, as of plus on a cumulative basis and commencing with the last day of any fiscal quarter, an amount equal to $190,000,000.00 plus the sum for each Borrower's fiscal quarter ending after December 31, 2007 of 2001, fifty percent (50% %) of the net income, if positive, Borrower's Consolidated Net Income (without any reduction for losses) for each consecutive two fiscal quarters of the Borrower ending on June 30 and its Subsidiaries on a consolidated basis for December 31 of each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borroweryear."

Minimum Consolidated Tangible Net Worth. The Borrower shall will not permit its Consolidated Tangible Net Worth as of the end of any Fiscal Quarter to be less than, as than the lesser of (i) the last day sum of any fiscal quarter, (A) $65,000,000 plus (B) an amount equal to $190,000,000.00 plus the sum for each fiscal quarter ending after December 31, 2007 of 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis Consolidated Net Income for each Fiscal Year commencing with the Fiscal Year ending June 30, 2009 (with no deduction for a net loss in any such fiscal quarter plus an amount equal to 75% of the net proceeds of Fiscal Year) and (ii) for any issuance of equity by the BorrowerFiscal Quarter ending after June 30, 2010, $115,000,000."

Minimum Consolidated Tangible Net Worth. The Borrower shall will not permit its allow the Consolidated Tangible Net Worth to ever be less thanthan the sum of (i) $48,000,000 U.S., plus (ii) as of the last day end of any each fiscal quarter, an amount equal to $190,000,000.00 plus the sum for each fiscal quarter ending after December 31, 2007 of 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrower."Consolidated

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its will maintain, as of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending December 31, 2011, Consolidated Tangible Net Worth to be of not less than, as of the last day of any fiscal quarter, an amount equal to than $190,000,000.00 plus the sum for each fiscal quarter ending after December 31, 2007 of 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrower0."

Minimum Consolidated Tangible Net Worth. The As of the end of each fiscal quarter, the Borrower shall will not permit its Consolidated Tangible Net Worth to be less thanthan $62,090,000, as of plus on a cumulative basis and commencing with the last day of any fiscal quarter, an amount equal to $190,000,000.00 plus the sum for each Borrower’s fiscal quarter ending after December 31, 2007 of 2001, fifty percent (50% %) of the net income, if positive, Borrower’s Consolidated Net Income (without any reduction for losses) for each consecutive two fiscal quarters of the Borrower ending on June 30 and its Subsidiaries on a consolidated basis for December 31 of each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borroweryear."

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its Consolidated Tangible Net Worth to will at no time be 59 65 less than, as of the last day of any fiscal quarter, an amount equal to $190,000,000.00 plus than the sum of (i) $1,000,000,000 plus (ii) for each fiscal quarter ending Fiscal Quarter ended at or prior to such time (but after December 31January 25, 2007 of 1997), 50% of the consolidated net income, if positive, income of the Borrower and its Consolidated Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the BorrowerFiscal Quarter (if greater than zero)."

Minimum Consolidated Tangible Net Worth. The Borrower shall not at any time permit its Consolidated Tangible Net Worth Worth, calculated as of the end of each fiscal quarter for the preceding four (4) fiscal quarters then ended, to be less thanthan $51,250,000. On March 1, 2005 and on each March 1 thereafter so long as of any Indebtedness is outstanding under the last day of any fiscal quarterRevolving Credit Facilities, an amount equal to $190,000,000.00 plus the sum for each fiscal quarter ending after December 31, 2007 of 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity Minimum Consolidated Tangible Net Worth requirement may be adjusted by the Bank to a higher or lower amount determined by Bank upon notice to Borrower."

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its Consolidated Tangible Net Worth to be less thanthan (i) negative $833,333 as of December 31, 2006, (ii) negative $1,480,000 as of March 31, 2007, and (iii) as of the last day of any fiscal each subsequent calendar quarter, an amount equal to $190,000,000.00 plus the sum of (A) negative $1,480,000 plus (B) fifty percent (50%) of the total positive Consolidated Net Income for each fiscal calendar quarter ending after December 31during the period from April 1, 2007 of 50% to the last day of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal calendar quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrowermost recently ending."

Minimum Consolidated Tangible Net Worth. The Borrower shall not permit its Consolidated Tangible Net Worth to be less than, as of the last day of any fiscal quarter, an amount equal to $190,000,000.00 117,203,000 plus the sum for each fiscal quarter ending after December 31, 2007 the Restatement Date of 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal to 75% of the net proceeds of any issuance of equity by the Borrower."

Minimum Consolidated Tangible Net Worth. The Borrower shall will not permit allow its Consolidated Tangible Net Worth to ever be less thanthan the sum of (i) $48,000,000, plus (ii) as of the last day end of any fiscal quarter, an amount equal to $190,000,000.00 plus the sum for each fiscal quarter beginning with the fiscal quarter ending after December 31June 30, 2007 of 2001, 50% of the net income, if positive, of the Borrower and its Subsidiaries on a consolidated basis Borrower's Consolidated Net Income for each such fiscal quarter plus an amount equal to then ended (but only if positive) and (iii) 75% of the net proceeds received by Borrower from the issuance of any issuance equity securities after the Effective Date, excluding, in each instance, the effect of equity by the Borrowerceiling test write downs."