Effective Tangible Net Worth. Maintain an Effective Tangible Net Worth (defined as total assets, less intangible assets, loans to shareholders/affiliates/officers/employees, minus total liabilities, plus subordinated debt) of not less than $20,000,000.00, on a quarterly basis.
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Samples: Business Loan Agreement (Amphastar Pharmaceuticals, Inc.), Business Loan Agreement (Amphastar Pharmaceuticals, Inc.)
Effective Tangible Net Worth. Maintain Borrower shall maintain an Effective Tangible Net Worth (defined as total assetsthe aggregate net worth plus subordinated debt, less any intangible assets, loans to and less any amount due from shareholders/affiliates/officers/employees, minus total liabilities, plus subordinated debtofficers and affiliates of Borrower) of not less than $20,000,000.00, on a quarterly basis21,000,000.00.
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Effective Tangible Net Worth. Maintain an Effective Tangible Net Worth (defined as total assetsnet worth plus subordinated debt, less any intangible assets, loans to and less any amounts due from shareholders/affiliates/officers/employees, minus total liabilities, plus subordinated debtofficers and affiliates of Borrower) of not at any time less than $20,000,000.00, on a quarterly basis18,000,000.00.
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