Minimum NAV Sample Clauses

Minimum NAV. Company, the Owners and Buyer have agreed that Company should have a net asset value as of the Closing Date of at least $3,000,000, as more specifically set forth in the NAV Schedule (the “Minimum NAV”).
Sample 1
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Minimum NAV. Sellers and Buyer have agreed that Company should have a net asset value as of the Closing Date, after giving effect to normal GAAP adjustments for reserves and except for routine reductions related to normal amortization and depreciation, equal to $1,521,795 (the “Minimum NAV”), which is the net asset value derived from the Company’s balance sheet as of December 31, 2008: NAV Calculation 12/31/08 Adjustments (1) Adjusted 12/31/08 Accounts Receivable $ 712,695 $ (138,758 ) $ 573,937 Inventory $ 828,120 $ 828,120 Prepaid Expenses $ 14,957 $ 14,957 Benefits $ 6,199 $ (6,199 ) Insurance $ 13,300 $ (13,300 ) Tax $ 13,000 $ (13,000 ) Trade Promo $ 25,000 $ (25,000 ) Rent $ 11,217 $ 11,217 Inventory $ 38,095 $ 38,095 Fixed Assets $ 38,555 $ 38,555 Deferred Tax $ 57,000 $ (57,000 ) Other $ 16,915 $ 16,915 Net Asset Value $ 1,775,053 $ (253,257 ) $ 1,521,795
Sample 1
Minimum NAV. Sellers and Buyer have agreed that the Company should have a Net Asset Value as of the Closing Date, after giving effect to normal GAAP adjustments for reserves and except for routine reductions related to normal amortization and depreciation, equal to $1,848,604 (the “Minimum NAV”), which is the Net Asset Value derived from the Company’s balance sheet as of December 31, 2008, as follows: Item Value Accounts Receivable $ 948,072 Allowance for Doubtful Accounts $ (193,324) Inventory $ 1,048,343 Inventory Reserve $ (71,452) Prepaids $ 48,351 Property and Equipment $ 83,491 Accumulated Depreciation $ (14,877) Net Asset Value $ 1,848,604
Sample 1

Related to Minimum NAV

  • Minimum Net Worth The Borrower will at all times maintain Consolidated Net Worth of not less than the sum of (i) $176,177,600 plus (ii) 50% of Consolidated Net Income earned in each fiscal quarter beginning with the quarter ending September 30, 2000 (without deduction for losses) plus (iii) the amount of any addition to the consolidated shareholders' equity of the Borrower and its Subsidiaries at any time resulting from the issuance or sale of any capital stock or other equity interests by the Borrower after the date of this Agreement.

  • Minimum Sales 4.1 The minimum volume of sales of the Products that CSR commits to use its best efforts to achieve in the Territory on an annual basis in the first Agreement Year is 60,000 gallons (avg. 5,000 gallons per month). RCAI will review the annual volumes of sales of the Products prior to the beginning of any successive term during which this Agreement may continue and RCAI may change and adjust such minimums as it, in its sole judgment, sees fit.

  • Minimum Net Income The Borrower will maintain, during each period described below, its Net Income, determined as at the end of each quarter, at an amount not less than the amount set forth opposite such period (numbers appearing between “( )” are negative): Period Minimum Net Income Six months ending June 30, 2002 ($1,049,000) Nine months ending Sept. 30, 2002 ($665,000) Twelve months ending Dec. 31, 2002 ($600,000) "

  • Minimum Investment Subject to certain individual state requirements and except for shares issued pursuant to the DRIP, Shares may be sold only to investors who initially purchase a minimum of $5,000, subject to certain state requirements as described in the Prospectus. With respect to Selected Broker-Dealer’s participation in any resales or transfers of the Shares, Selected Broker-Dealer agrees to comply with any applicable requirements set forth in Section 2 and to fulfill the obligations pursuant to FINRA Rule 2310.

  • Minimum Commitment Consultant agrees to provide at least twenty (20) days of consulting services during the term of this Agreement, but such services shall not exceed thirty (30) days without the mutual consent of the parties. Services performed on an hourly basis shall be computed on the basis of eight working hours per day; provided, however, that (i) travel time spent in a day outside of normal working hours in connection with at least four hours of consulting services shall not be counted as consulting services, and total travel and working time in one day aggregating more than eight hours shall not be counted as more than one day of consulting services.

  • Minimum Amount No prepayment shall be required pursuant to Section 5.2(a)(i) (i) in the case of any Disposition yielding Net Cash Proceeds of less than $1,000,000 in the aggregate and (ii) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds (x) $10,000,000 for a single Prepayment Event or (y) $50,000,000 in the aggregate for all Prepayment Events (other than those which are either under the threshold specified in subclause (i) or over the threshold specified in subclause (ii)(x)) in any one fiscal year, at which time all such Net Cash Proceeds referred to in this subclause (y) with respect to such fiscal year shall be applied as a prepayment in accordance with this Section 5.2.

  • Minimum Cash A. Minimum daily balance of cash and Permitted Cash Equivalent Investments of Borrower and its Subsidiaries during the most recently ended fiscal quarter of Borrower: $

  • Maximum number Unless the Facility Agent agrees, a Request may not be given if, as a result, there would be more than 15 Loans outstanding.

  • Minimum Working Capital The Borrower shall maintain at all times Working Capital (which shall mean Current Assets less Current Liabilities) of at least $500,000.

  • Minimum Offering The initial Closing shall be at least for the number of shares of Common Stock in the Minimum Offering at the Purchase Price.

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