Net Worth and Liquid Assets/Experience Sample Clauses

Net Worth and Liquid Assets/Experience. It shall be presumptively deemed that the Transferee has the requisite financial resources if the proposed Transferee has a Net Worth or Liquid Assets in an amount that is not less than one hundred twenty five percent (125%) of the reasonably estimated cost to complete the Project Infrastructure associated with the portion of the Property to be transferred. For purposes of the foregoing “Liquid Asset” shall mean any of the following, but only to the extent owned individually, free of security interests, liens, pledges, charges or any other encumbrance: (a) cash, (b) certificates of deposit (with a maturity of two years or less) issued by, or savings account with, any bank or other financial institution reasonably acceptable to County, or (c) marketable securities listed on a national or international exchange, marked to market; and “Net Worth” shall mean, as of a given date, (x) Transferee’s total assets as of such date less (y) Transferee’s total liabilities (taking into consideration contingent liabilities) as of such date, determined in accordance with generally accepted accounting principles, consistently applied.
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Net Worth and Liquid Assets/Experience. It shall be

Related to Net Worth and Liquid Assets/Experience

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