Closing Date Net Worth. At the Closing the Company will (i) have a net worth calculated according to GAAP of at Two Hundred Eighteen Thousand Two Hundred Thirty Dollars ($218,230), and (ii) sufficient working capital to operate the Company; and at the Closing the Company shall have delivered to Buyer a certificate dated the Closing Date to such effect with supporting financial information, signed by the President or any Vice President and the Secretary or any Assistant Secretary of the Company.
Closing Date Net Worth. At the Closing the Company will (i) have a net worth calculated according to GAAP of at least One Hundred Forty Thousand Dollars ($140,000.00) based on the assets created by the Revenues as accounted for on the financial 44 50 statements of FFR, and (ii) sufficient working capital to operate the Company; and at the Closing the Company shall have delivered to Buyer a certificate dated the Closing Date to such effect with supporting financial information, signed by the President or any Vice President and the Secretary or any Assistant Secretary of the Company.
Closing Date Net Worth. As of the Closing Date, immediately prior to the consummation of the transaction contemplated hereby, the net worth of the Company shall be no less than $-0- and there shall be no liability to the Company arising as a result of the transaction contemplated hereby.
Closing Date Net Worth. (a) The term "Closing Date Net Worth" shall mean (i) the sum of all assets reflected in the Closing Date Balance Sheet minus (ii) the sum of all liabilities reflected in the Closing Date Balance Sheet.
Closing Date Net Worth. Closing Date Net Worth" shall mean the Actual Net Worth reflected on the Closing Date Balance Sheet.
Closing Date Net Worth. On December 1, 1998, the Company will have a net worth, calculated in accordance with GAAP, of at least Three Million Six Hundred Thousand Dollars ($3,600,000).
Closing Date Net Worth. 1.7.1 The cash portion of the Closing Date Payment payable to the Shareholders hereunder shall be reduced on a dollar-for-dollar basis in the event that the Estimated Closing Date Net Worth (as hereinafter defined) of MDI is less than $166,667.
1.7.2 At Closing, MDI will deliver to Century an estimate of the components of its aggregate net worth as of the Closing, determined on an accrual basis including provisions for all income taxes (current and deferred) in accordance with generally accepted accounting principles consistently applied ("GAAP") (the "Estimated Closing Date Net Worth"). To the extent that the Estimated Closing Date Net Worth is less than $166,667 (plus any earnings since February 1, 1998 as specified in Section 3.2.6 hereof), such difference (the "Estimated Closing Date Net Worth Deficiency") shall be deducted from the Closing Date Payment.
Closing Date Net Worth. At the Closing the Company will (i) have a net worth, exclusive of assets attributable to revenues assigned to Benefit Funding Services, LLC by Randxxx X. Xxxx xxx John Xxxxxxxx, xxlculated according to GAAP of at least Three Million Five Hundred and Thirty-Three Thousand, Six Hundred Dollars ($3,533,600.00), and (ii) sufficient working capital to operate the Company and the Subsidiaries; and at the Closing the Company shall have delivered to Buyer a certificate dated the Closing Date to such effect with supporting financial information, signed by the President or any Vice President and the Secretary or any Assistant Secretary of the Company.
Closing Date Net Worth. 1.7.1 The cash portion of the Closing Date Payment payable to the Shareholders hereunder shall be reduced on a dollar-for-dollar basis in the event that the aggregate Estimated Closing Date Net Worth (as hereinafter defined) of CLG and EDG is less than $333,333.
1.7.2 At Closing, CLG and EDG will deliver to Century an estimate of the components of its aggregate net worth as of the Closing, determined on an accrual basis including provision for all income taxes, (current and deferred) in accordance with generally accepted accounting principles consistently applied ("GAAP") (the "Estimated Closing Date Net Worth"). To the extent that the Estimated Closing Date Net Worth is less than $333,333 (plus any earnings since February 1, 1998 as specified in Section 3.2.6 hereof), such difference (the "Estimated Closing Date Net Worth Deficiency") shall be deducted from cash portion of the Closing Date Payment.
Closing Date Net Worth. The Closing Date Net Worth Statement shall reflect that the Closing Date Net Worth is not less than One Hundred Five Million and No/100 Dollars ($105,000,000.00).
