Consolidated Net Total Assets means the total amount of assets of the Company and its consolidated Subsidiaries (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities (excluding any thereof which are by their terms extendible or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed), all as set forth on the most recent consolidated balance sheet of the Company and its consolidated Subsidiaries and computed in accordance with generally accepted accounting principles (which calculation shall give pro forma effect to any Material Acquisition or Material Disposition consummated by the Company or its consolidated Subsidiaries since the date of such balance sheet and on or prior to the date of determination, as if such Material Acquisition or Material Disposition had occurred on the date of such consolidated balance sheet).

Consolidated Net Total Assets means the total amount of assets of the Guarantor and its consolidated Subsidiaries (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities (excluding any thereof that are by their terms extendible or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed), all as set forth on the most recent consolidated balance sheet of the Guarantor and its consolidated Subsidiaries and computed in accordance with generally accepted accounting principles (which calculation shall give pro forma effect to any Material Acquisition or Material Disposition consummated by the Guarantor or its consolidated Subsidiaries since the date of such balance sheet and on or prior to the date of determination, as if such Material Acquisition or Material Disposition had occurred on the date of such consolidated balance sheet).

Examples of Consolidated Net Total Assets in a sentence

Notwithstanding the foregoing, the Issuer or any Restricted Subsidiary may create or permit to exist Mortgages on any Principal Property, or upon any indebtedness or share of capital stock of any Restricted Subsidiary so long as the aggregate amount of Debt secured by all such Mortgages (excluding therefrom the Debt secured by Mortgages set forth in clauses (a) through (i), inclusive, above) does not exceed 5% of the Consolidated Net Total Assets of the Issuer.

More Definitions of Consolidated Net Total Assets

Consolidated Net Total Assets means the total of all assets which, under generally accepted accounting principles, would appear on the asset side of a consolidated balance sheet of the Issuer and its Subsidiaries, less the aggregate of all liabilities, deferred credits, minority shareholders’ interests in Subsidiaries, reserves and other items which, under such principles, would appear on the liability side of such consolidated balance sheet, except Funded Indebtedness and Stockholders’ Equity; provided, however, that in determining Consolidated Net Total Assets, there shall not be included as assets, (a) any treasury stock carried as an asset or (b) any write-ups of capital assets (other than write-ups resulting from the acquisition of stock or assets of another corporation or business).

Consolidated Net Total Assets is used in the Indenture for purposes of the Notes, the term shall be replaced with “Consolidated Total Assets.”

Consolidated Net Total Assets at any date, the total consolidated assets of the Borrower and its Restricted Subsidiaries, excluding all goodwill, trade names, trademarks, patents and other similar intangibles properly classified as intangibles in accordance with GAAP, all as shown on the most recent balance sheet of the Borrower that has been delivered pursuant to Section 6.1(a) or (b) and computed in accordance with GAAP.

Consolidated Net Total Assets at any time, the consolidated total assets of the Borrower and its Subsidiaries minus the lesser of (x) the “payables to brokers, dealers and others” and (y) the “receivables from brokers, dealers and others, net”, as such amounts would appear on a consolidated balance sheet of the Borrower prepared in accordance with GAAP as at the end of the most recently completed fiscal quarter for which financial statements were delivered.

Consolidated Net Total Assets means the total amount of assets of the Company and its consolidated subsidiaries (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities (excluding any thereof which are by their terms extendible or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed), all as set forth on the most recent consolidated balance sheet of the Company and its consolidated subsidiaries and computed in accordance with generally accepted accounting principles (which calculation shall give pro forma