Minimum Shareholders' Equity

Minimum Shareholders' Equity. The Borrower will not permit Shareholders' Equity at the last day of any fiscal quarter of the Borrower to be less than the greater of (i) 40% of the total assets of the Borrower and its Subsidiaries as at the last day of such fiscal quarter (determined on a consolidated basis, without duplication, in accordance with GAAP) and (ii) the sum of (1) 65% of the difference of (x) the Shareholders' Equity as at the Restatement Effective Date less (y) any amounts paid by the Borrower to purchase its... shares of common stock in connection with the Tender Offer, plus (2) 37.5% of the net proceeds of the sale of Equity Interests by the Borrower and its Subsidiaries after the Restatement Effective Date. View More