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.

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]].

Minimum Consolidated Net Worth. The Company will not permit Consolidated Net Worth at any time to be less than $1,550,000,000.

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.

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.

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

In addition, notwithstanding the foregoing, solely for purposes of determining the minimum Consolidated Tangible Net Worth in [Section 5.07], “Consolidated Tangible Net Worth” shall be determined solely with

“Significant Unsecured Indebtedness Event” means that the aggregate principal amount of unsecured Debt of the Borrower and its Subsidiaries exceeds, at any time of determination, the sum of # the excess of the Borrowing Base over the Covered Debt Amount plus # 30% of the shareholder’s equity in the Structured Subsidiary (as calculated by the Consolidated Tangible Net Worth less the Consolidated Tangible Net Worth of the Loan Parties).