Minimum Tangible Net Worth of Borrower Clause Samples

The Minimum Tangible Net Worth of Borrower clause sets a required financial threshold that the borrower must maintain throughout the term of a loan or credit agreement. This threshold is typically calculated by subtracting intangible assets and liabilities from the borrower's total assets, ensuring that the borrower's net worth remains above a specified minimum. By imposing this requirement, the clause helps protect the lender by ensuring the borrower remains financially stable and capable of meeting its obligations, thereby reducing the lender's risk of default.
Minimum Tangible Net Worth of Borrower. Fail to maintain as of the end of each of its fiscal quarters a Tangible Net Worth of at least the sum of the outstanding principal balances of Borrower’s three largest Eligible Notes Receivable. Notwithstanding the foregoing, Borrower shall not be required to calculate or comply with the financial covenant in this Section 7.17(b) as of the end of any fiscal quarter on which there are no outstanding Advances under this Agreement as of the end of such fiscal quarter.
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Minimum Tangible Net Worth of Borrower. Permit Borrower, on a consolidated basis with its Subsidiaries, to fail to maintain as of the end of each of its fiscal quarters a sum of (i) Tangible Net Worth, plus (ii) Subordinated Debt, that is greater than or equal to the sum of (A) the lesser of (I) the sum of the outstanding principal amounts of Borrower’s three largest Notes Receivable, and (II) $50,000,000, plus (B) any positive amount of cumulative capital contributions made to Borrower from and after the First Amendment Closing Date. Notwithstanding the foregoing, Borrower will not be required to calculate or comply with this financial covenant as of the end of any fiscal quarter when there are no outstanding Advances under the Loan Agreement.
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Minimum Tangible Net Worth of Borrower. Fail to maintain, as of the end of each of its fiscal months, a Tangible Net Worth of Borrower that is equal to or greater than the greater of (i) the amount necessary to avoid the occurrence of an Overadvance, and (ii) $10,000,000.
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Minimum Tangible Net Worth of Borrower. As of the end of the fiscal quarter ended _________, ____, Borrower and its Subsidiaries, on a consolidated basis, had a Tangible Net Worth equal to $____________, which amount [is/is not] greater than or equal to the minimum amount required by Section 7.17(b) of the Loan Agreement for the corresponding period (i.e. the lesser of (I) the sum of the outstanding principal balances of Borrower’s three largest Eligible Notes Receivable, and (II) $50,000,000, plus any positive amount of cumulative equity contributions made to Borrower from and after the Closing Date).
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Minimum Tangible Net Worth of Borrower. Permit Borrower's Tangible Net Worth (on a combined basis) at any time to be less than $40,000,000.
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Minimum Tangible Net Worth of Borrower. Permit Borrower, on a consolidated basis with its Subsidiaries, to fail to maintain as of the end of each of its fiscal quarters a sum of (i) Tangible Net Worth, plus (ii) Subordinated Debt, that is greater than or equal to the sum of (A) the lesser of (I) the sum of the outstanding principal amounts of Borrower’s three largest Notes Receivable, and (II) $25,000,000, plus (B) any positive amount of cumulative capital contributions made to Borrower from and after the Closing Date.
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Minimum Tangible Net Worth of Borrower. Permit Borrower's Tangible Net Worth (on a combined basis) at any time to be less than $40,000,000.
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Related to Minimum Tangible Net Worth of Borrower

  • Minimum Tangible Net Worth The Parent and the Borrower shall not permit Tangible Net Worth at any time to be less than (i) $731,508,263 plus (ii) 75% of the Net Proceeds of all Equity Issuances effected at any time after the Agreement by the Parent, the Borrower or any of the Subsidiaries of the Parent to any Person other than the Parent, the Borrower or any of the Subsidiaries of the Parent.

  • Consolidated Tangible Net Worth The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any ▇▇▇▇-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Tangible Net Worth The Seller will not permit its tangible net worth, at any time, to be less than $10,000,000.

  • Minimum Consolidated Tangible Net Worth Commencing with the Fiscal Quarter ending June, 2006, Consolidated Tangible Net Worth will at no time be less than a cumulatively increasing amount equal to the sum of (i) $130,000,000 plus (ii) 50% of the Consolidated Net Income for each Fiscal Quarter ending September 20, 2006 and thereafter. In determining the minimum Consolidated Tangible Net Worth required by this Section 5.03, any negative Consolidated Net Income, computed cumulatively on an annual basis, shall be excluded.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.