LUL’s Net Tangible Assets Sample Clauses

LUL’s Net Tangible Assets the failure by LUL to produce a certificate from its auditors (addressed to the Finance Parties) confirming that LUL’s Net Tangible Assets equal or exceed the Agreed Amount within (A) 30 days of a written request from the Finance Parties or (B) 60 days of a written request from the Finance Parties where LUL’s auditors notify the Finance Parties (and LUL shall procure that its auditors notify the Finance Parties promptly) that they are unable to issue such a certificate without first verifying the physical existence of LUL’s Tangible Fixed Assets; provided that the Finance Parties may only make such a request if it is not readily apparent to the Finance Parties (acting reasonably) from a review of the latest statutory accounts of LUL that LUL’s Net Tangible Assets equal or exceed the Agreed Amount. In this Clause 25.1.1(d): (i) Net Tangible Assets means (a) the unencumbered Tangible Fixed Assets of LUL net of depreciation valued by application of the accounting policies used in the preparation of the statutory accounts of LUL for the year ending 31 March 1994 and (b) the unencumbered Tangible Assets of LUL net of depreciation valued (as if they were fixed assets) by application of the accounting policies used in respect of fixed assets in the preparation of the statutory accounts of LUL for the year ending 31 March 1994; (ii) Agreed Amount means £4,978,960,000;
Sample 1
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LUL’s Net Tangible Assets the failure by LUL to produce a certificate from its auditors (addressed to the Finance Parties) confirming that LUL’s Net Tangible Assets equal or exceed the Agreed Amount within (A) 30 days of a written request from the Finance Parties or (B) 60 days of a written request from the Finance Parties where LUL’s auditors notify the Finance Parties (and LUL shall procure that its auditors notify the Finance Parties promptly) that they are unable to issue such a certificate without first verifying the physical existence of LUL’s Tangible Fixed Assets; provided that the Finance Parties may only make such a request if it is not readily apparent to the Finance Parties (acting reasonably) from a review of the latest statutory accounts of LUL that LUL’s Net Tangible Asset equal or exceed the Agreed Amount. In this Clause 25A.1.1(k):
Sample 1

Related to LUL’s Net Tangible Assets

  • Net Tangible Assets Purchaser shall have at least $5,000,001 of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Exchange Act) remaining after the closing of the Purchaser Share Redemption.

  • Tangible Assets The Target owns or leases all buildings, machinery, equipment, and other tangible assets necessary for the conduct of its business as presently conducted and as presently proposed to be conducted. Each such tangible asset is free from defects (patent and latent), has been maintained in accordance with normal industry practice, is in good operating condition and repair (subject to normal wear and tear), and is suitable for the purposes for which it presently is used and presently is proposed to be used.

  • Intangible Assets 4,912 Other assets........................................................... 113,928 Total assets........................................................... 6,920,723 CONTINUED ON NEXT PAGE

  • Title to Tangible Assets The Company and its Subsidiaries have good title to their properties and assets and good title to all their leasehold estates, in each case subject to no mortgage, pledge, lien, lease, encumbrance or charge, other than or resulting from taxes which have not yet become delinquent and minor liens and encumbrances which do not in any case materially detract from the value of the property subject thereto or materially impair the operations of the Company and its Subsidiaries and which have not arisen otherwise than in the ordinary course of business.

  • Condition of Tangible Assets All buildings, structures, facilities, equipment and other material items of tangible property and assets included in the Assets are in good operating condition and repair, subject to normal wear and maintenance, are usable in the regular and ordinary course of business and conform to all applicable laws, ordinances, codes, rules and regulations relating to their construction, use and operation.

  • 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 xxxx-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.

  • Eligible Assets The Fund shall only make investments in the Eligible Assets as described on Exhibit B, as amended from time to time with the prior written consent of Xxxxx Fargo, in accordance with the Fund’s investment objectives and the investment policies set forth in the Offering Memorandum, as such investment objectives and investment policies may be modified in accordance with the 1940 Act and applicable law and, if applicable, the Related Documents.

  • 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.

  • Minimum Consolidated Tangible Net Worth Borrower shall not permit Consolidated Tangible Net Worth to be less than $600,000,000 plus eighty-five percent (85%) of the Net Proceeds of any Equity Issuance received after the Agreement Execution Date.

  • Environmental Attributes Seller acknowledges and agrees that any Environmental Attribute associated with or related to the Product will not be sold or otherwise made available to a third party but will be sold to Buyer pursuant to this Agreement. For the avoidance of doubt, the Product sold hereunder must meet the definition of “renewable energy credit” under the IPA Act.

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