GAAP Net Worth Clause Samples

GAAP Net Worth. Seller shall maintain a Net Worth of not less than $250,000,000.
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GAAP Net Worth. The GAAP Net Worth of the Company shall, at all times, be greater than the sum of Three Million Eight Hundred Thousand Dollars ($3,800,000.00).
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GAAP Net Worth. The GAAP Net Worth of the Company, on a consolidated basis is: Shareholder's equity (including capital stock, additional paid-in capital, and retained earnings, but excluding treasury stock, if any): $_______________ MINIMUM GAAP NET WORTH IS $60,000,000.00 Covenant Satisfied: Covenant Not Satisfied: -------------- -------------
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GAAP Net Worth is amended and restated, in its entirety as follows:
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GAAP Net Worth. Borrower shall maintain a Net Worth of not less than $250,000,000.
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GAAP Net Worth. 3 GNMA.............................................................................................................16
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GAAP Net Worth. The GAAP Net Worth of the Company shall at all times be greater than the sum of Fourteen Million Dollars ($14,000,000.00) plus fifty percent (50%) of the cumulative sum of GAAP net income after January 1, 2004; provided, however, in no event shall the Company be required to maintain a minimum GAAP Net Worth in excess of Sixteen Million Dollars ($16,000,000.00). The parties hereto acknowledge and agree that in the event that any of the foregoing covenants are materially changed as a result of a change in GAAP, the Banks, the Agent and the Company will amend the terms of this Article 5 to accurately reflect the agreement between the Banks and the Company with respect to such financial covenants.
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Related to GAAP Net Worth

  • Net Worth The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person’s primary home).

  • Consolidated Net Worth The Company will not permit Consolidated Net Worth at any time to be less than US$165,000,000 plus the cumulative sum of 25% of Consolidated Net Earnings (but only if a positive number) for each fiscal quarter ending after June 30, 2004.

  • Consolidated Tangible Net Worth The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any ▇▇▇▇-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

  • Minimum Consolidated Net Worth Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.