Common use of Minimum Net Worth Clause in Contracts

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not will at no time be less than an amount equal to the sum of (ia) $900,000,000 1,236,000,000 plus (iib) 50% of Consolidated Net Income earned in the for each fiscal quarter of the Borrower ending after December 3130, 2002 1998 and at or prior to such time (without deduction for losses) plus (iii) 50% of but only if such Consolidated Net Income earned in each for such fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for lossesquarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 176,177,600 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter beginning with the quarter ending December 31September 30, 2002 2000 (without deduction for losses) plus (iii) 50% the amount of Consolidated Net Income earned in each fiscal year beginning with any addition to the fiscal year ending December 31, 2003 (without deduction for losses)consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 90,000,000.00 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter beginning with the quarter ending December 31September 30, 2002 2003 (without deduction for losses) plus (iii) 50100% of Consolidated Net Income earned all net proceeds of any issuance of stock or other equity after deduction of any fees, commissions, expenses and other costs incurred in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)such offering.

Minimum Net Worth. The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $900,000,000 7,000,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 5075% of Consolidated Net Income earned in each fiscal year quarter beginning with the fiscal year quarter ending December 31June 30, 2003 2000 (without deduction for losses), plus (iii) 100% of the net proceeds of any offering by the Borrower of equity securities of the Borrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not the Borrower will at no time be less than an amount equal to the sum of (ia) $900,000,000 1,700,000,000 plus (iib) 50% of Consolidated Net Income earned in the for each fiscal quarter of the Borrower ending December 31on or after September 30, 2002 (without deduction for losses) plus (iii) 50% of but only if such Consolidated Net Income earned in each for such fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for lossesquarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of the Borrower and its Subsidiaries on a consolidated basis at the end of each fiscal quarter of each Fiscal Year shall not be less than the sum of (i) $900,000,000 2,500,000 plus (ii) an amount equal to 50% of Consolidated Net Income earned in since the fiscal quarter ending December 31, 2002 Effective Date (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for excluding any losses).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 60,000,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 5075% of Consolidated Net Income earned in each fiscal year quarter beginning with the fiscal year quarter ending December 31April 30, 2003 1999 (without deduction for losses), and plus (iii) 100% of the net proceeds from any equity offering of the Borrower or any of its Subsidiaries." (d) Section 6.23.4 is hereby amended to read in its entirety as follows:

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 200,000,000.00, plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year quarter ending December March 31, 2003 2008 (without deduction for losses), plus (iii) 100% of all net proceeds of any issuance of stock or other equity after deduction of any fees, commissions, expenses and other costs incurred in such offering.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 155,000,000 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter beginning with the quarter ending December 31June 30, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 plus (ii) 50% of Consolidated Net Income earned in the two consecutive fiscal quarter quarters ending December 31, 2002 2004 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending on or after December 31, 2003 2005 (without deduction for losses).

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $900,000,000 5,320,141,8505,586,992,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of cumulative Consolidated Net Income earned in each fiscal year beginning quarter thereafter (if positive) commencing with the fiscal year quarter ending December 31on June 30, 2003 (without deduction for losses)20172022.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not will at no time be less than an amount equal to the sum of (ia) $900,000,000 1,236,000,000 plus (iib) 50% of Consolidated Net Income earned in the for each fiscal quarter of the Borrower ending after December 3130, 2002 1999 (without deduction for losses) plus (iii) 50% of but only if such Consolidated Net Income earned in each for such fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for lossesquarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 185,000,000 plus (ii) 5075% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending December 31, 2002 1999 (without deduction for losses) plus (iii) 50% the amount of Consolidated Net Income earned in each fiscal year beginning with any addition to the fiscal year ending December 31, 2003 (without deduction for losses)consolidated stockholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any Equity Interests by the Borrower after the date of this Agreement.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of the Borrower and its ----------------- $1,000,000,000 plus (ii) an amount equal to Subsidiaries on a consolidated basis at the 50% of Net Income since the Closing Date. end of each fiscal quarter of each Fiscal Year shall not be less than the sum of (i) $900,000,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 294,945,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 2004 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 358,875,000, plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year quarter ending December 31September 30, 2003 (without deduction for losses), plus (iii) 50% of the amount of any addition to the consolidated stockholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any Equity Interests by the Borrower after June 30, 2003.

Minimum Net Worth. The Borrower will shall at all times maintain Consolidated Net Worth of in an amount not less than the sum of (i) $900,000,000 43,500,000 plus (ii) 50% of Consolidated the Borrower’s Net Income earned in (but without deducting for losses) for each fiscal quarter commencing with the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)2004.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 180,000,000 plus (ii) 50% of Consolidated Net Income (if positive) earned in each fiscal quarter beginning with the fiscal quarter ending December March 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)2002.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 21,490,560, plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 5075% of Consolidated Net Income earned in each fiscal year quarter beginning with the fiscal year quarter ending December 31, 2003 1998 (without deduction for losses), plus (iii) 100% of the net cash proceeds of any offering of securities after the date of this Agreement (whether debt or equity and whether public or private).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 160,000,000 plus (ii) 50% of Consolidated Net Income (if positive) earned in each Fiscal Quarter beginning with the fiscal quarter Fiscal Quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)2003.

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $900,000,000 5,320,141,850 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of cumulative Consolidated Net Income earned in each fiscal year beginning quarter thereafter (if positive) commencing with the fiscal year quarter ending December 31on June 30, 2003 (without deduction for losses)2017.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 85% of Consolidated Net Worth as of March 31, 2001 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter beginning with the quarter ending December 31June 30, 2002 2001 (without deduction for losses) plus (iii) 5075% of Consolidated Net Income earned in each fiscal year beginning with Proceeds of Equity Interests of the fiscal year ending December 31, 2003 (without deduction Borrower for losses)such period.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 295,000,000, plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 5075% of Consolidated Net Income earned in each fiscal year quarter beginning with the fiscal year quarter ending December 31May 26, 2003 2001 (without deduction for losses), and plus (iii) 90% of the Net Cash Proceeds of any equity offering consummated after the last day of fiscal year 2000.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 45,000,000 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 1998 (without deduction for losses)." (b) Section 6.16 of the Credit Agreement shall be amended in its entirety and as so amended to read as follows:

Minimum Net Worth. The Borrower will shall maintain at all times maintain Consolidated Net Worth of not less than the sum of (ia) $900,000,000 185,000,000 plus (iib) 50% the aggregate sum of Consolidated the Fiscal Quarter Net Income earned in the Worth Increase Amounts calculated for each fiscal quarter of the Consolidated Entities ending after December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)1996.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 575,000,000 plus (ii) 50% of Consolidated Net Income (if positive) earned in each Fiscal Quarter beginning with the fiscal quarter Fiscal Quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)2003.

Minimum Net Worth. The Borrower will Borrowers and their Subsidiaries on a consolidated basis shall maintain at all times maintain Consolidated Net Worth of not less equal to or greater than the sum of (ia) $900,000,000 17,000,000, plus (iib) an amount equal to 50% of Consolidated Net Income earned in the fiscal quarter ending December 31during each of its Fiscal Quarters beginning with its Fiscal Quarter commencing October 1, 2002 1997 (without deduction reduction for net losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for lossesif any).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 409,000,000, plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter beginning with the quarter ending December 31June 30, 2002 2005 (without deduction for losses) ), plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December amount of any addition to the consolidated stockholders’ equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any Equity Interests by the Borrower after March 31, 2003 (without deduction for losses)2005.

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $900,000,000 4,223,942,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of cumulative Consolidated Net Income earned in each fiscal year beginning quarter thereafter (if positive) commencing with the fiscal year quarter ending December 31on September 30, 2003 (without deduction for losses)2013.

Minimum Net Worth. The Borrower will Maintain at all times maintain Consolidated on a consolidated basis a minimum Net Worth of not less than the sum of (i) $900,000,000 25,000,000.00 plus (ii) 5075% of Consolidated Net Income earned in the Borrower's cumulative positive quarterly net income commencing with the fiscal quarter ending December 31ended September 30, 2002 (without deduction 1998, with no deductions for quarterly losses) , plus (iii) 50100% of Consolidated Net Income earned the net proceeds of any other increase in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)equity of the Borrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not the Borrower will at no time be less than an amount equal to the sum of (ia) $900,000,000 1,700,000,000 plus (iib) 50% of Consolidated Net Income earned in the for each fiscal quarter of the Borrower ending December 31on or after September 30, 2002 (without deduction for losses) plus (iii) 50% of Consolidated but only if such consolidated Net Income earned in each for such fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for lossesquarter is a positive amount).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 160,000,000, plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 2006 (without deduction for losses), plus (iii) 75% of net proceeds from any sale of capital stock of the Borrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the he sum of (i) $900,000,000 75% of Consolidated Net Worth at December 31, 2010 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter if positive beginning with the quarter ending December March 31, 2002 (without deduction for losses) 2011 plus (iii) 50100% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)net cash proceeds resulting from the issuance of capital stock of the Borrower.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth (plus fifty percent 50% of quarterly positive net income on a cumulative basis) of not less than the sum of (i) $900,000,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)60,000,000.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 145,000,000, plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending December on March 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 2004 (without deduction for losses), plus 75% of Net Cash Proceeds received by the Borrower or any Subsidiary.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 325,069,000 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year quarter ending December 31June 30, 2003 2004 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain not permit or suffer Consolidated Net Worth of not to be less than (i) at any time on or prior to December 31, 2006, $950,000,000 or (ii) at any time after December 31, 2006, the sum of (ia) $900,000,000 plus (iib) 50% of Consolidated Net Income earned in the two consecutive fiscal quarter quarters ending December 31, 2002 2004 (without deduction for losses) plus (iiic) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending on or after December 31, 2003 2005 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain ----------------- Consolidated Net Worth of not less than the sum of (i) $900,000,000 265,000,000 plus (ii) fifty percent (50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses%) plus (iii) 50% of Consolidated Net Income earned in each fiscal year quarter beginning with the fiscal year quarter ending December 31, 2003 1997 (without deduction for losses).

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (ia) $900,000,000 20,000,000, plus (iib) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of positive Consolidated Net Income earned in each fiscal year beginning with quarter ending on or after the fiscal year ending December 31, 2003 (without deduction for losses)date of determination.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (ia) $900,000,000 17,500,000, plus (iib) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of positive Consolidated Net Income earned in each fiscal year beginning with the fiscal year quarter ending December 31on or after January 1, 2003 2011. and (without deduction for losses).iii) adding Section 6.24.5 as follows:

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 116,401,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 2001 (without deduction for losses), plus (iii) 75% of the net proceeds of any equity issuances by the Borrower received in each fiscal quarter beginning with the quarter ending December 31, 2001.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 188,784,000 plus (ii) 50% of Consolidated Net Income earned in the each fiscal quarter beginning with the quarter ending December 31September 30, 2002 2001 (without deduction for losses) plus (iii) 50% the amount of Consolidated Net Income earned in each fiscal year beginning with any addition to the fiscal year ending December 31, 2003 (without deduction for losses)consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $900,000,000 17,000,000 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 5075% of Consolidated Net Income earned in each fiscal year quarter beginning with the fiscal year quarter ending December 31, 2003 (without deduction for losses).January

Minimum Net Worth. The At all times, the Borrower will at all times maintain not permit its Consolidated Net Worth of not to be less than the sum of (i) $900,000,000 2,035,568,250 plus (ii) 50% of Consolidated Net Income earned in the fiscal quarter ending December 31, 2002 (without deduction for losses) plus (iii) 50% of cumulative Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31quarter thereafter (if positive) commencing on September 30, 2003 (without deduction for losses)2010.

Minimum Net Worth. The Borrower will at all times maintain Consolidated Net Worth of the Borrower and its Subsidiaries on a consolidated basis at the end of each fiscal quarter of each Fiscal Year shall not be less than the sum of (i) $900,000,000 5,000,000 plus (ii) an amount equal to 50% of Consolidated Net Income earned in since the fiscal quarter ending December 31, 2002 Effective Date (without deduction for excluding any losses) plus (iii) 50% of Consolidated Net Income earned in each fiscal year beginning with the fiscal year ending December 31, 2003 (without deduction for losses)aggregate amount of all equity contributions to the Borrower after the Effective Date.