Tangible Net Worth. The Borrower and its Subsidiaries on a consolidated basis shall have, on the last day of each fiscal quarter, Tangible Net Worth greater than $55,000,000.

Maintenance of Adjusted Tangible Net Worth. The Financial Reporting Party has maintained an Adjusted Tangible Net Worth of not less than $275,000,000.

Minimum Tangible Net Worth. Permit Consolidated Tangible Net Worth at any time to be less than the sum of # $664,751,000 plus # an amount equal to 75% of the net proceeds received by the Borrower from issuances and sales of Equity Interests of the Borrower occurring after June 30, 2021 (other than proceeds received within ninety (90) days before or after the redemption, retirement or repurchase of Equity Interests in the Borrower up to the amount paid by the Borrower in connection with such redemption, retirement or repurchase, in each case where, for the avoidance of doubt, the net effect is that the Borrower shall not have increased its net worth as a result of any such proceeds).

Minimum Tangible Net Worth. Guarantor shall maintain Tangible Net Worth of not less than $60,000,000.00. “Tangible Net Worth” means, at any particular time, all amounts which, in conformity with GAAP (as defined in the Warehouse Agreement), would be properly included as owner’s equity on Guarantor’s balance sheet, but excluding # all assets which are properly classified as intangible assets, and # loans or advances to, or receivables from, any owner, officer or employee of Guarantor.

Minimum Tangible Net Worth. [[Organization B:Organization]] shall maintain Tangible Net Worth of not less than $4,000,000.00. “Tangible Net Worth” means, at any particular time, all amounts which, in conformity with GAAP, would be properly included as owner’s equity on [[Organization B:Organization]]’s balance sheet, but excluding # all assets which are properly classified as intangible assets, and # loans or advances to, or receivables from, any owner, officer or employee of [[Organization B:Organization]].

Borrower’s Tangible Net Worth as of the Date ​ greater than or equal to the greater of # $20,000,000, and # Item 4(a)(ix), as required to be in compliance with [Section 6.1(q)] of the Loan Agreement.

Maintenance of Ratio of Indebtedness to Adjusted Tangible Net Worth. The Financial Reporting Party shall maintain the ratio of Indebtedness minus Ginnie Mae Repurchase Liabilities plus Indebtedness Guaranteed by Financial Reporting Party to Adjusted Tangible Net Worth no greater than 15:1.

“Debt to Tangible Net Worth” means, as of any day, the ratio of Funded Debt to Tangible Net Worth.

SECTION # Minimum Consolidated Tangible Net Worth. The Consolidated Tangible Net Worth shall at no time be less than $120,000,000.

Adjusted Net Earnings. Adjusted Net Earnings for a Performance Period means the consolidated net earnings attributable to stockholders reported by the Company for the Performance Period in accordance with generally accepted accounting principles, before reported extraordinary items, but after charges or credits for taxes measured by income and Performance Awards under this Plan and performance awards under the Nucor Corporation Senior Officers Long-Term Incentive Plan.

SECTION #Minimum Consolidated Tangible Net Worth.‌7785

Consolidated Funded Debt to Consolidated Tangible Net Worth Covenant. As of the last day of each calendar month, [[Borrower Agent:Organization]] shall not permit the ratio, for [[Borrower Agent:Organization]], of Consolidated Funded Debt to Consolidated Tangible Net Worth to exceed 5.0:1.0.

“(q) Minimum Tangible Net Worth. Maintain, as of the last day of any calendar month, Tangible Net Worth in an amount equal to the greater of # $20,000,000, and # the aggregate Advances made by the Lenders against Borrower’s two largest Eligible Portfolio Loans.”

“Tangible Net Worth” means the aggregate assets of [[Organization A:Organization]] excluding all intangible assets, including, but not limited to, goodwill, licenses, trademarks, patents, copyrights, organization costs, appraisal surplus, officer, stockholder, related entity and employee advances or receivables, mineral rights and the like, less liabilities, plus Subordinated Debt, all determined in accordance with G.A.A.P. (except to the extent that under G.A.A.P. “tangible net worth” excludes leasehold improvements which are included in “Tangible Net Worth” as defined herein).

Section # Tangible Net Worth. The Borrower will, at all times, maintain a Tangible Net Worth of not less than $40,000,000, with such minimum Tangible Net Worth # to increase as of the end of each fiscal year, commencing September 30, 2018, by an amount equal to thirty-three and four-tenths of one percent (33.4%) of Borrower’s positive net income for the fiscal year then ending, and # to decrease by an amount equal to the lesser of # aggregate dividends paid from time to time by the Borrower from and after the First Amendment Effective Date, and # $13,500,000. This covenant shall be tested quarterly. “Tangible

SECTION #Minimum Consolidated Tangible Net Worth. Consolidated Tangible Net Worth shall be calculated quarterly commencing on the Fiscal Quarter ending March 31, 2014 and at the end of each Fiscal Quarter thereafter, and shall not be less than the greater of # the aggregate amount of the Revolver Commitments or # $50,000,000.00.

“(a) Debt/Net Worth Ratio. Measured as of the end of each fiscal quarter, a ratio of Total Liabilities less Subordinated Debt to Tangible Net Worth of not more than 2.50 to 1.00.

“Tangible Net Worth” means total assets less the sum of Intangible Assets and Total Indebtedness.

Consolidated Tangible Net Worth. As of any date of determination, Total Asset Value less all Indebtedness.

“Consolidated Tangible Net Worth” means at any date the consolidated common shareholders’ equity of the Company and its Consolidated Subsidiaries less their consolidated Intangible Assets, all determined as of such date.