Combined Current Assets means all assets of the Loan Parties on a combined basis that are properly classified as current assets in accordance with GAAP, valued on a FIFO basis.
Combined Current Assets means, for any Measurement Period, the aggregate of the Borrowers’ and their Subsidiaries’ unrestricted aggregate cash on hand, marketable securities, prepaid deposits refundable on demand, receivables and oil and gas inventory expected to be realized within twelve (12) months, minus all trade receivables more than ninety (90) days past due, all as determined on a Combined basis in accordance with GAAP; provided that for the purposes of determining the Current Ratio, (w) the aggregate available, unused and uncancelled portion of the Commitments (if any) at such time shall be added to, and constitute part of, the Combined Current Assets, (x) the portion of any oil and gas inventory to which any Person (other than an Obligor) is entitled shall be excluded from the calculation of Combined Current Assets, (y) deferred tax credits shall be excluded from the calculation of Combined Current Assets and (z) non-cash gains arising from unliquidated Hedge Agreements shall be excluded from the calculation of Combined Current Assets.
Combined Current Assets means, for any Measurement Period, the aggregate of the Borrowers’ and their Subsidiaries’ unrestricted aggregate cash on hand, marketable securities, prepaid deposits refundable on demand, receivables and oil and gas inventory expected to be realized within twelve (12) months, minus all trade receivables more than ninety (90) days past due, all as determined on a Combined basis in accordance with GAAP; provided that (a) for the purposes of determining the Current Ratio, the aggregate unused and uncancelled portion of the Commitments (if any) at such time shall be added to, and constitute part of, the Combined Current Assets, (b) the portion of any oil and gas inventory to which any Person (other than an Obligor) is entitled shall be excluded from the calculation of Combined Current Assets and (c) non-cash gains arising from unliquidated Hedge Agreements shall be excluded from the calculation of Combined Current Assets.
Examples of Combined Current Assets in a sentence
For example, a reference to the Combined Current Assets of the Borrowers for the fiscal quarter ended July 31, 1998 shall mean the current assets of SalesLink and it Subsidiaries for its period of April 1, 1998 through July 31, 1998, and the current assets of InSolutions and its Subsidiaries for the three month period of April 1, 1998 through July 31, 1998.
At all times prior to the release of the Collateral by Bank pursuant to Section 7.16 hereof, Borrower shall maintain a ratio of Combined Current Assets to Combined Current Liabilities (including the outstanding principal balance of the Revolving Loans and the current portion of the Term Loan) ("Current Ratio") of not less than 1.0 to 1 at December 31, 1994 and as of each fiscal quarter thereafter.
More Definitions of Combined Current Assets
Combined Current Assets at a particular date, all amounts (other than cash and Cash Equivalents) which would, in conformity with GAAP, be set forth opposite 12 6 the caption "total current assets" (or any like caption) on a combined balance sheet of the Borrowers and their Subsidiaries at such date.
Combined Current Assets means Current Assets as defined in this Agreement together with Current Assets as defined in the Agreement and Plan of Reorganization.
Combined Current Assets means, as of any date of determination, those assets of the Partnerships classified as “current assets” under GAAP.
Combined Current Assets. Combined Current Liabilities", "Combined Indebtedness", "Combined Interest Expense", "Combined Net Income", "Combined Shareholders' Equity" and "Excess Cash Flow" appearing in Section 11 of the Credit Agreement are hereby amended, but only for all periods occurring after the Reorganization Merger Date, by changing the term "combined consolidated" in each place it appears therein to "consolidated."
Combined Current Assets of the Combined Group Members at any date, all amounts (other than cash and Cash Equivalents) that would, in conformity with GAAP, be set forth opposite the caption “total current assets” (or any like caption) on a combined balance sheet of the Combined Group Members at such date plus the Combined Group Members’ pro-rata share of such amounts from their Unconsolidated Joint Ventures.
Combined Current Assets. All assets of the Borrowers and their ----------------------- Subsidiaries on a combined basis that in accordance with GAAP are properly classified as current assets, excluding bad debts and inventory not yet saleable.
Combined Current Assets means, at any time, the combined consolidated current assets of the Parent Companies and their Subsidiaries.