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: • my total assets at fair market value (including all personal and real property, but excluding the estimated fair market value of my primary residence) minus • 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.
Net Worth Test. My individual net worth, or my joint net worth together with my spouse, exceeds $1,000,000. For the purposes of calculating my “net worth” the following formula shall be applied: My total assets at fair market value (including all personal and real property, but excluding the estimated fair market value of my primary residence) Minus My total liabilities, (i) excluding 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 (ii) including any mortgage or other debt secured by my primary residence in an amount in excess of the estimated fair market value of that residence. In connection with the calculation of my net worth I represent that I have read the foregoing definition of “net worth” and 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. 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. At least two (2) business days prior to the Closing Date, DEI and the Company shall deliver to Parent the Closing Balance Sheet. DEI and the Company agree that if Estimated Net Worth is less than the Net Worth Target, then DEI shall deliver to Holding Company at the Closing by cashier's check or wire transfer in immediately available funds the amount by which Estimated Net Worth is less than the Net Worth Target (the "Net Worth Payment"). DEI and the Parent agree that (i) if Net Worth is less than the lesser of (A) the Net Worth Target and (B) Estimated Net Worth, Holding Company shall be entitled to recover the amount of such deficit from DEI as a Loss in accordance with the procedures set forth in Article VII and (ii) if the Net Worth exceeds the Estimated Net Worth, the Holding Company shall reimburse DEI the amount of such excess, provided that the amount of such reimbursement plus the Estimated Net Worth shall not exceed the Net Worth Target. Following the Closing, Holding Company shall deliver to DEI a statement indicating the Net Worth and, upon request, a calculation thereof in reasonable detail. 5.24
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. 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. 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. For Assets: bank statements, brokerage statements, and other statements of securities holdings, certificates of deposit, tax assessments and appraisal reports issued by independent third parties.
Net Worth Test. Guarantor shall at all times maintain its Net Worth so that it is not less than $91,000,000.
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) minus · 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. 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.
