Common use of Minimum Net Worth Clause in Contracts

Minimum Net Worth. Borrower shall maintain, on a consolidated basis, as at the end of each fiscal quarter, a Tangible Net Worth equal to or greater than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999.

Minimum Net Worth. The Borrower and its Subsidiaries shall maintain, on a consolidated basis, as maintain at the end of each fiscal quarter, a Tangible all times Net Worth in an amount greater than or equal to or greater than the then applicable Minimum sum of (i) eighty percent (80%) of the Net Worth. "Minimum Net Worth" shall mean $27,800,000Worth of the Borrower and its Subsidiaries on September 30, 2001, plus cumulative quarterly increases equal to (ii) fifty percent (50%) of Borrower's net income the Net Income of the Borrower and its Subsidiaries for all fiscal quarters the Fiscal Quarter ending on or after July December 31, 1999, 2001 and each Fiscal Quarter thereafter (excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at net loss in any time after September 1, 1999such Fiscal Quarter).

Minimum Net Worth. The Borrower shall maintainand its consolidated Subsidiaries will at all times maintain Net Worth in an amount equal to (a) $45,000,000, plus (b) 75% of cumulative Net Income, if positive for any fiscal quarter (i.e., exclusive of any negative Net Income for any fiscal quarter), for any fiscal quarter commencing on a consolidated basisand after May 1, as at the end 2003, plus (c) all Net Proceeds of each fiscal quarter, a Tangible Net Worth equal to or greater than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters ending Equity Issuance which occurs on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September January 1, 19992003.

Minimum Net Worth. Borrower shall maintainThe Borrower, on a consolidated basis, shall maintain at all times, as measured at the end of each fiscal quarter, a Tangible Net Worth equal to or greater than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters ending on or after July commencing December 31, 1999, excluding a Net Worth of not less than the sum of (i) $11,500,000 plus (ii) 100% of the net cash proceeds of any adjustments thereto for losses, plus all amounts contributed to Borrower as new equity at any time after September 1, 1999investment in the Borrower.

Minimum Net Worth. The Net Worth of the Borrower shall maintain, and its Subsidiaries on a consolidated basis, as basis at the end of each fiscal quarter, a Tangible Net Worth quarter of each Fiscal Year shall not be less than the sum of (i) $2,500,000 plus (ii) an amount equal to or greater than 50% of Net Income since the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent Effective Date (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999).

Minimum Net Worth. The Borrower shall maintainwill maintain its Net Worth, on a consolidated basis, determined as at the end of each fiscal quarter, a Tangible Net Worth equal to or greater quarter at an amount not less than the then applicable Minimum sum of (i) $46,000,000, (ii) the minimum amount of Pre-tax Net Worth. "Minimum Income required pursuant to Section 6.20, if any, and (iii) all Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999Equity Proceeds.

Minimum Net Worth. Borrower shall maintain, Borrowers and their Subsidiaries on a consolidated basis, as basis shall maintain at the end of each fiscal quarter, a Tangible all times Net Worth equal to or greater than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean sum of (a) $27,800,00017,000,000, plus cumulative quarterly increases (b) an amount equal to fifty percent 50% of Net Income earned during each of its Fiscal Quarters beginning with its Fiscal Quarter commencing October 1, 1997 (50%) of Borrower's without reduction for net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999if any).

Minimum Net Worth. Net Worth of Initial Borrower shall maintain, and the Included Subsidiaries on a consolidated basis, as basis shall not be less than $90,000,000 at the end of each fiscal quarter, a Tangible Net Worth equal to or greater than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters Fiscal Quarter ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999December 31 and June 30 of each fiscal year.

Minimum Net Worth. The Net Worth of the Borrower shall maintain, and its Subsidiaries on a consolidated basis, as basis at the end of each fiscal quarter, a Tangible Net Worth quarter of each Fiscal Year shall not be less than the sum of (i) $1,000,000,000 plus (ii) an amount equal to or greater than 50% of Net Income since the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999Closing Date.

Minimum Net Worth. The Net Worth of the Borrower shall maintain, and its ----------------- $1,000,000,000 plus (ii) an amount equal to Subsidiaries on a consolidated basis, as basis at the 50% of Net Income since the Closing Date. end of each fiscal quarter, a Tangible Net Worth equal to or greater quarter of each Fiscal Year shall not be less than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent sum of (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999.i)

Minimum Net Worth. The Net Worth of the Borrower shall maintain, and its Subsidiaries on a consolidated basis, as basis at the end of each fiscal quarter, a Tangible Net Worth quarter of each Fiscal Year shall not be less than the sum of (i) $5,000,000 plus (ii) an amount equal to or greater than 50% of Net Income since the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent Effective Date (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, ) plus (iii) 50% of the aggregate amount of all amounts contributed equity contributions to the Borrower as equity at any time after September 1, 1999the Effective Date.

Minimum Net Worth. The Net Worth of the Borrower shall maintain, and its Subsidiaries on a consolidated basis, as basis at the end last day of each fiscal quarterquarter of each Fiscal Year shall not be less than the sum of (i) 80% of June 30, a Tangible 2006 Net Worth plus (ii) an amount equal to or greater than the then applicable Minimum sum of 50% of Net Worth. "Minimum Income for each fiscal quarter ending after June 30, 2006 (provided that Net Worth" Income for any such fiscal quarter shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) be taken into account for purposes of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999this calculation only if positive).

Minimum Net Worth. The Borrower shall maintain, on a consolidated basis, as will maintain at the end of each fiscal quarter, quarter a Tangible Net Worth equal to or greater of not less than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income 4,000,000 for all fiscal quarters ending on or after July each quarter through December 31, 1999, excluding any adjustments thereto 1999 and not less than $5,000,000 for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999each quarter thereafter.

Minimum Net Worth. The Net Worth of the Borrower shall maintain, and its Subsidiaries on a consolidated basis, as basis at the end last day of each fiscal quarter, a Tangible Net Worth quarter of each Fiscal Year shall not be less than the sum of (i) $1,438,627,000 plus (ii) an amount equal to or greater than the then applicable Minimum sum of 50% of Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income Income for all each fiscal quarters quarter ending on or after July December 31, 1999, excluding 2002 (provided that Net Income for any adjustments thereto such fiscal quarter shall be taken into account for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 1999purposes of this calculation only if positive).

Minimum Net Worth. The Borrower shall maintainand its consolidated Subsidiaries will at all times maintain Net Worth in an amount equal to not less than the sum of (a) $33,000,000 plus (b) 75% of cumulative Net Income, on a consolidated basisif positive for any fiscal quarter (i.e., as at the end exclusive of any negative Net Income for any fiscal quarter), for any fiscal quarter commencing after April 30, 1997, plus (c) all Net Proceeds of each fiscal quarterEquity Issuance which occurs after April 30, a Tangible Net Worth equal to or greater than the then applicable Minimum Net Worth. "Minimum Net Worth" shall mean $27,800,000, plus cumulative quarterly increases equal to fifty percent (50%) of Borrower's net income for all fiscal quarters ending on or after July 31, 1999, excluding any adjustments thereto for losses, plus all amounts contributed to Borrower as equity at any time after September 1, 19991997.