83 Consolidated Net Worth

83 Consolidated Net Worth. Commencing with the fiscal quarter ended September 30, 2000, the Borrowers will not permit their Consolidated Net Worth at the end of any fiscal quarter to be less than the sum of $65,250,000 plus the sum of (a) 50% of positive Consolidated Net Income for each fiscal quarter, beginning with the fiscal quarter ended December 31, 2000, and (ii) 100% of the net proceeds of any sale by the Borrowers of (A) equity securities issued by the... Borrowers or (B) warrants or subscription rights for equity securities issued by the Borrowers occurring after September 30, 2000. View More