Consolidated Net definition

Consolidated Net. Worth shall mean as of any date of determination total stockholders' equity of the Borrower and its Subsidiaries as of such date determined and consolidated in accordance with GAAP.

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Consolidated Net. Income shall mean the after-tax net income (or loss) of Borrower and its Subsidiaries for the period in question, determined on a consolidated basis and in accordance with GAAP. Consolidated Operating Lease Expense shall mean, for the period in question, the aggregate amount of all Operating Lease Expenses of Borrower and its Subsidiaries during such period, all determined on a consolidated basis and in accordance with GAAP.

Consolidated Net. Income shall mean for any period the consolidated net income of the Borrower and its Subsidiaries for such period as determined in accordance with GAAP.

Examples of Consolidated Net in a sentence

• So long as any Advance shall remain unpaid or any Bank shall have any Commitment hereunder, Caterpillar will, unless the Majority Banks shall otherwise consent in writing, maintain at all times during each fiscal year of Caterpillar, Consolidated Net Worth of not less than $9,000,000,000.

• For purposes of this subsection (ii), the Leverage Ratio shall be the ratio of (x) CFSC Consolidated Debt to (y) CFSC’s Consolidated Net Worth on the date for which computed.

• As used in this Section 5.6, “material” means the measure of a matter of significance that shall be determined as being an amount equal to five percent (5%) of Consolidated Net Worth.

• However, any of the Company or its Restricted Subsidiaries may incur Secured Debt without securing the Notes if, immediately after incurring the Secured Debt, the aggregate principal amount of all Secured Debt then outstanding plus the aggregate amount of the Attributable Debt then outstanding pursuant to Sale and Leaseback Transactions would not exceed 15% of the Company’s Consolidated Net Tangible Assets.

• Notwithstanding the foregoing restriction contained in this Section 4.10, the Partnership may and may permit its Subsidiaries to incur liens or grant Mortgages on property covered by the restriction above so long as the net book value of the property so encumbered, together with all property subject to the restriction on sale and leasebacks contained in Section 4.11, does not, at the time such lien or Mortgage is granted, exceed fifteen percent (15%) of Consolidated Net Tangible Assets.

More Definitions of Consolidated Net

Consolidated Net. Income shall mean the after-tax net income (or loss) of Borrower and its Subsidiaries for the period in question, determined on a consolidated basis and in accordance with GAAP.

Consolidated Net. Income shall mean for any period the consolidated net income of the Consolidated Entity for such period. Consolidated Net Worth shall mean the excess of the consolidated assets of the Consolidated Entity over the consolidated liabilities of the Consolidated Entity.

Consolidated Net. WORTH shall mean, with respect to the Borrower and its Consolidated Subsidiaries, assets in excess of liabilities, and determined in accordance with GAAP, in a manner consistent with the latest audited financial statements of the Borrower and its Consolidated Subsidiaries. CONSOLIDATED SUBSIDIARIES shall mean all subsidiaries of the Borrower that should be included in the Borrower's consolidated financial statements, all as determined in accordance with GAAP.

Consolidated Net. Income shall mean for any fiscal period the net income of TGI and its Subsidiaries for such period determined and consolidated in accordance with GAAP; provided that:

Consolidated Net. Income shall mean, for any period, the net income (or loss), without deduction for minority interests, of the Borrower and its Subsidiaries on a consolidated basis for such period taken as a single accounting period determined in conformity with GAAP. Consolidated Net Worth shall mean, at any time, all amounts that, in conformity with GAAP, would be included under the caption “total stockholders’ equity” (or any like caption) on a consolidated balance sheet of the Borrower as of such time, provided that in no event shall Consolidated Net Worth include any amounts in respect of Redeemable Stock.

Consolidated Net. Income shall mean, with respect to the Borrower, for any period, the aggregate net income (or loss) of the Borrower and its Subsidiaries for such period on a consolidated basis, determined in accordance with GAAP; provided that there shall be excluded therefrom (a) after-tax gains or losses from Asset Sales or abandonments or reserves relating thereto, (b) after-tax items classified as extraordinary or nonrecurring gains or losses, (c) the net income (or loss) of any Person acquired in a "pooling of interests" transaction accrued prior to the date it becomes a Subsidiary or is merged or consolidated with the Borrower or any Subsidiary, (d) the net income (but not loss) of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is restricted by a contract, operation of law or otherwise, (e) the net income of any Person, other than a Subsidiary, except to the extent of cash dividends or distributions paid to the Borrower or to a Subsidiary by such Person, (f) income or loss attributable to discontinued operations (including, without limitation, operations disposed of during such period whether or not such operations were classified as discontinued and (g) in the case of a successor to the Borrower by consolidation or merger or as a transferee of the Borrower's assets, any net

Consolidated Net. Income shall mean for any period of determination an amount equal to the net income of the Borrower and its Restricted Subsidiaries for such period determined in accordance with GAAP, but without regard to net income attributable to Excluded Entities, plus up to $826,000 of loss determined in accordance with GAAP attributable to the sale of the approximately 38,700 square foot office building located in Nashville, Tennessee during the fiscal quarter ending December 30, 1996, plus the following expenses to the extent such expenses are deducted in computing such net income: (i) up to $9,230,000 of extraordinary, nonrecurring charges incurred by the Loan Parties in connection with the Convalescent Merger incurred in the following amounts during the following fiscal quarters: $757,000 during the fiscal quarter beginning January 1, 1995 and ending March 31, 1995; $8,410,000 during the fiscal quarter beginning April 1, 1995 and ending June 30, 1995; $54,000 during the fiscal quarter beginning July 1, 1995 and ending September 30, 1995; and $9,000 during the fiscal quarter beginning October 1, 1995 and ending December 31, 1995; (ii) up to $1,138,000 of extraordinary, nonrecurring deferred financing charges incurred by the Loan Parties in connection with the Fourth Amendment during the fiscal quarter beginning April 1, 1995 and ending June 30, 1995; (iii) up to $6,543,000 of extraordinary, nonrecurring charges incurred by the Loan Parties during the fiscal quarters beginning January 1, 1996 and ending June 30, 1996, in connection with one or more Permitted Acquisitions consummated during such period, including without limitation, in connection with the Convalescent Merger; and (iv) such other extraordinary nonrecurring charges as approved by the Required Banks pursuant to Section 8.01(m)."