Net Worth Test. For the Purchaser and, if relying on the joint net worth qualification, the Purchaser’s spouse, provide (i) one or more of the below listed types of documentation, dated within the past three months, for both assets and liabilities, and (ii) a written statement signed by you (and your spouse, if a joint net worth qualifier) that states all liabilities necessary to make a determination of net worth have been disclosed.
Net Worth Test. My individual net worth, or my joint net worth together with my spouse or Spousal Equivalent, exceeds $1,000,000. For these purposes, “net worth” means the excess of:
Net Worth Test. My individual net worth, or my joint net worth together with my spouse, exceeds $1,000,000. For these purposes, “net worth” means the excess of: my total assets at fair market value (including all personal and real property, but excluding the estimated fair market value of my primary residence) my total liabilities. For these purposes, “liabilities”: exclude any mortgage or other debt secured by my primary residence in an amount of up to the estimated fair market value of that residence; but include any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence. I confirm that my total individual liabilities, or my total joint liabilities together with my spouse, do not exceed $ . I represent that all liabilities necessary to determine my individual net worth, or my joint net worth together with my spouse, for the purpose of determining my status as an Accredited Investor are reflected in the dollar amount in the preceding sentence.
Net Worth Test. My individual net worth, or my joint net worth together with my spouse or Spousal Equivalent, exceeds $1,000,000. For these purposes, “net worth” means the excess of: · my total assets at fair market value (including all personal and real property, but excluding the estimated fair market value of my primary residence) · my total liabilities. For these purposes, “liabilities”: o exclude any mortgage or other debt secured by my primary residence in an amount of up to the estimated fair market value of that residence; but o include any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence. For these purposes, “joint net worth” can be the aggregate net worth of me and my spouse or Spousal Equivalent; assets need not be held jointly to be included in the calculation. Reliance on the joint net worth standard does not require that the Class A Common Stock be purchased jointly. I confirm that my total individual liabilities, or my total joint liabilities together with my spouse or Spousal Equivalent, do not exceed $________________. I represent that all liabilities necessary to determine my individual net worth, or my joint net worth together with my spouse or Spousal Equivalent, for the purpose of determining my status as an Accredited Investor are reflected in the dollar amount in the preceding sentence.
Net Worth Test. Upon request by Lessor from time to time, but in no event more than one (1) time in any calendar year, Lessee shall supply Lessor with "Approved Financial Documentation," as that term is defined, below. In the event that the Approved Financial Documentation shall indicate that Lessee's "Net Worth" (which shall be defined as shareholder's equity) shall be less than $1,000,000,000.00 (the "Minimum Net Worth Test"), then, within thirty (30) days thereafter, Lessee shall, at Lessee's option, either (i) deliver to Lessor a letter of credit in the amount of the "LC Amount," as that term is defined below, to be held by Lessor, subject to and in accordance with the terms of this Article 21; or (ii) deliver to Lessor a guaranty of this Lease, in form and substance reasonably satisfactory to Lessor, from an Affiliate of Lessee (the "Affiliate Guaranty"), provided that Lessee shall only retain the right to elect this item (ii) to the extent that concurrently with the delivery of the Affiliate Guaranty, Lessee delivers to Lessor financial statements ("Financial Statements") for the subject Affiliate, prepared in accordance with generally accepted accounting principals ("GAAP") or some other accounting standard which is reasonably consistent with GAAP, if the subject Affiliate or Lessee were viewed as a stand alone entity and not as a part of a consolidated group (an "Alternative Accounting Standard"), indicating that such Affiliate satisfies the Minimum Net Worth Test, provided further that to the extent that the subject Affiliate does not prepare separate Financial Statements (or, at Lessor's option, if the Financial Statements are more than six (6) months old), Lessee shall deliver to Lessor, in lieu of such Financial Statements, a letter executed by the chief financial officer of the Affiliate or another “Qualified Officer", as that term is defined below, of the Affiliate, indicating that, in accordance with GAAP or an Alternative Accounting Standard, the Affiliate satisfies the Minimum Net Worth Test. For purposes of this Section 21.1, (a) "Approved Financial Documentation" shall mean Financial Statements, provided that in the event that Financial Statements are not prepared (or at Lessor's option, if the Financial Statements are more than six (6) months old), Lessee shall supply Lessor with a letter, executed by Xxxxxx's chief financial officer or another Qualified Officer of Lessee, indicating the Lessee satisfies the Minimum Net Worth Test, determined pursuant ...
Net Worth Test. A distribution shall be an unlawful distribution if, immediately after the distribution, the sum of the LLC’s liabilities would exceed the aggregate fair market value of its assets.
Net Worth Test. My individual net worth, or my joint net worth together with my spouse, exceeds $1,000,000 (over total liabilities). For these purposes, “net worth” means the excess of: · total assets at fair market value (including all personal and real property, but excluding the estimated fair market value of my primary residence) minus · total liabilities. For these purposes, “liabilities”: · exclude any mortgage or other debt secured by my primary residence in an amount of up to the estimated fair market value of that residence; but · include any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence. For these purposes, “liabilities”: · exclude any mortgage or other debt secured by my primary residence in an amount of up to the estimated fair market value of that residence; but · include any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence.
Net Worth Test. My individual net worth, or my joint net worth together with my spouse, exceeds $1,000,000. For these purposes, "net worth" means the excess of: - total assets as fair market value (including all personal and real property, but excluding the estimated fair market value of my primary resident) - total liabilities. For these purposes, "liabilities": - excludes any mortgage or other debt secured by my primary residence in an amount of up to the estimated fair market value of that residence; but - includes any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence. I confirm that my total individual liabilities, or my total joint liabilities together with my spouse, do not exceed $__________________________. I represent that all liabilities necessary to determine my individual net worth, or my joint net worth together with my spouse, for the purpose of determining my status as an Accredited Investor are reflected in the dollar amount in the preceding sentence.
Net Worth Test. For so long as this Guaranty is continuing and until the Loan is repaid in full, Guarantor hereby covenants to Lender that Guarantor and Borrower, in the aggregate, shall at all times maintain a collective net worth of not less than $75,000,000 (the “Net Worth Test”). In the event that Guarantor and Borrower do not meet the Net Worth Test, then Guarantor agrees to promptly deliver to Lender an additional or a substitute Guaranty in substantially the same form as this Guaranty, or a surety instrument, satisfactory to Lender, executed by the additional or substitute Guarantor, as the case may be, satisfactory to Lender in its reasonable discretion, which Guaranty or surety is sufficient in amount to cause the Net Worth Test to then be met.
Net Worth Test. My individual net worth, or my joint net worth together with my spouse, exceeds $1,000,000 (over total liabilities). For these purposes, “net worth” means the excess of: · total assets at fair market value (including all personal and real property, but excluding the estimated fair market value of my primary residence) minus · total liabilities. For these purposes, “liabilities”: · exclude any mortgage or other debt secured by my primary residence in an amount of up to the estimated fair market value of that residence; but · include any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence.
