The Company Net Worth Clause Samples

The Company Net Worth. At the Closing, the Net Worth of the Company shall be not less than the Company Closing Net Worth. For purposes of this condition, the “Company Closing Net Worth” shall be an amount equal to $45,500,000, as adjusted to give effect to: (i) the after-tax effect of any expense of the Company or any of the Company Subsidiaries related to this Agreement and the transactions contemplated hereby, including payments to the Company’s attorneys and accountants; (ii) the after-tax effect of any gain or loss from the sale of assets by the Bank after June 30, 2006 in the ordinary course of business consistent with its past practice; and (iii) any change in the “Accumulated Other Comprehensive Loss” line on the Company’s consolidated balance sheet after June 30, 2006, all as set forth in a consolidated balance sheet of the Company as of the end of the month preceding the Closing Date, prepared in accordance with GAAP.