Available Net Assets means, with respect to any Person, the amount, as of the respective date of calculation, by which the sum of such Person’s assets (including subrogation, indemnity, contribution, reimbursement and similar rights that such Person may have, but excluding any such rights in respect of the Guarantor Obligations), determined on the basis of a “fair valuation” or their “fair saleable value” (whichever is the applicable test under Section 548 and other relevant provisions of the Bankruptcy Code and the relevant state fraudulent conveyance or transfer laws), is greater than the amount that will be required to pay all of such Person’s debts, in each case matured or unmatured, contingent or otherwise, as of the date of calculation, but excluding liabilities arising under the Guaranty set forth in Section 28. of this Agreement and excluding, to the maximum extent permitted by Applicable Law with the objective of avoiding rendering such Person insolvent, liabilities subordinated to the Obligations arising out of loans or advances made to such Person by any other Person.

Available Net Assets means, with respect to any Person, the amount, as of the respective date of calculation, by which the sum of such Person’s assets (including subrogation, indemnity, contribution, reimbursement and similar rights that such Person may have, but excluding any such rights in respect of the Guarantor Obligations), determined on the basis of a “fair valuation” or their “fair saleable value” (whichever is the applicable test under Section 548 and other relevant provisions of the Bankruptcy Code and the relevant state fraudulent conveyance or transfer laws), is greater than the amount that will be required to pay all of such Person’s debts, in each case matured or unmatured, contingent or otherwise, as of the date of calculation, but excluding liabilities arising under the Guaranty set forth in Article XII of this Agreement and excluding, to the maximum extent permitted by Applicable Law with the objective of avoiding rendering such Person insolvent, liabilities subordinated to the Obligations arising out of loans or advances made to such Person by any other Person.

Available Net Assets shall have the meaning assigned to such term in Section 7.10.

Examples of Available Net Assets in a sentence

After SDDPC has closed its accounting records for that fiscal year, such excess revenues or expenses will be incorporated into a rate adjustment as part of the next Mid-Year Rate Adjustment process, provided there are Available Net Assets as described above.
Available Net Assets are defined as the amount of Net Assets that exceed “110% of the net book value of Capital Assets”.
Such excess revenues or expenses will be incorporated into a rate adjustment as part of the next Mid-Year Rate Adjustment process, provided there is Available Net Assets as described above.

More Definitions of Available Net Assets

Available Net Assets has the meaning set forth in Section 9.4.

Available Net Assets means, with respect to any Obligor, the amount, as of the respective date of calculation, by which the sum of a Person’s assets (including subrogation, indemnity, contribution, reimbursement and similar rights that the Obligor may have, but excluding any such rights in respect of the Guarantor Obligations), determined on the basis of a “fair valuation” or their “fair saleable value” (whichever is the applicable test under Section 548 and other relevant provisions of the Bankruptcy Code and the relevant state fraudulent conveyance or transfer laws), is greater than the amount that will be required to pay all of such Person’s debts, in each case matured or unmatured, contingent or otherwise, as of the date of calculation, but excluding liabilities arising under this Guaranty or, in the case of each Borrower, the liabilities arising from the joint and several liability of such Borrower with respect to Loans or other extensions of credit made under this Agreement to each other Borrower and excluding, to the maximum extent permitted by Applicable Law with the objective of avoiding rendering such Person insolvent, liabilities subordinated to the Obligations arising out of loans or advances made to such Person by any other Person, and

Available Net Assets means, with respect to any Loan Party, the amount, as of the respective date of calculation, by which the sum of a person's assets (including subrogation, indemnity, contribution, reimbursement and similar rights that the Loan Party may have, but excluding any such rights in respect of the Guarantor Obligations and the Senior Note Guarantees), determined on the basis of a “fair valuation” or their “fair saleable value” (whichever is the applicable test under Section 548 and other relevant provisions of the Bankruptcy Code and the relevant state fraudulent conveyance or transfer laws), is greater than the amount that will be required to pay all of such person's debts, in each case matured or unmatured, contingent or otherwise, as of the date of calculation, but excluding liabilities arising under Article VII and excluding, to the maximum extent permitted by the Requirements of Law with the objective of avoiding rendering such person insolvent, liabilities subordinated to the Obligations or Guarantor Obligations arising under the Senior Note Guarantees or out of loans or advances made to such Loan Party by any other person, and

Available Net Assets shall have the meaning provided in Section 11.7(b)(i)(A)(2).

Available Net Assets is defined as the amount of Net Assets that “exceed 110% of the net book value of capital assets.” If the forecast indicates that operating revenues will exceed operating expenses by $500,000 or more, or that operating expenses will be greater than operating revenue by $500,000 or more, then SDDPC shall recalculate the current year rates with the goal of achieving a break- even financial position for the Fiscal Year. The Executive Director and CFO will meet with the Director of IT and the Financial Management Director to agree upon revised rates for the services to be provided in the remaining months of the Fiscal Year. The revised rates may potentially impact both fixed price and variable rate services provided by SDDPC.

Available Net Assets means, with respect to any Person, the amount, as of the respective date of calculation, by which the sum of such Person’s