Consolidated Tangible Net. Worth shall mean as of any date of determination total stockholders’ equity less intangible assets of the Borrower and its Subsidiaries as of such date determined and consolidated in accordance with GAAP.
Consolidated Tangible Net. Worth shall mean the remainder determined by subtracting from Consolidated Net Worth the aggregate amount of Consolidated Intangible Assets.
Consolidated Tangible Net. Worth" in Section 9.1 of the Agreement is hereby amended by adding the following immediately after the end of clause (c): " MINUS
Examples of Consolidated Tangible Net in a sentence
Not permit the ratio of Consolidated Indebtedness to Consolidated Tangible Net Worth to exceed 600% on and as of the last day of any fiscal year or 650% at any other time.
The excess of the actuarial present value of all benefit liabilities under all Pension Plans (excluding in such computation Pension Plans with assets greater than benefit liabilities) over the fair market value of the assets allocable to such benefit liabilities are not greater than five percent (5%) of Consolidated Tangible Net Worth.
The Company will maintain at all times a Consolidated Tangible Net Worth of not less than $800,000,000.
If at any xxxx Xxxxxx’x Consolidated Tangible Net Worth falls below the sum of (x) $150,000,000 and (y) 50% of the proceeds from any issuance of equity by Seller, Nationstar Mortgage Holdings Inc.
Maintain at all times a Consolidated Tangible Net Worth of not less than the Minimum TNW.
More Definitions of Consolidated Tangible Net
Consolidated Tangible Net. WORTH shall mean at any time for the determination thereof: (i) the Consolidated Net Worth of the Parent, Lessee and the Subsidiaries as at such date, MINUS the aggregate amount of goodwill and intangible assets of the Parent, Lessee and the Subsidiaries as at such date, as determined in accordance with GAAP;
Consolidated Tangible Net. Worth shall mean at a particular date, the excess, if any, of (a) all amounts which would be included under shareholders' equity on a consolidated balance sheet of the Borrower determined in accordance with GAAP (including, without limitation, capital stock, additional paid-in- capital and retained earnings) at such date minus (b) all assets of Borrower, determined on a consolidated basis at such date, that would be classified as intangible assets in accordance with GAAP, but in any event including, without limitation, the following intangible assets: unamortized organization and reorganization expense, patents, trade or service marks, franchises, trade names and goodwill. Consolidated Total Debt shall mean, as of the date of any determination thereof, all Debt of Borrower and its Subsidiaries as of such date, determined on a consolidated basis as determined in accordance with GAAP. Consolidation Transactions shall mean (i) the transfer to Borrower of the stock of each subsidiary of Trinity that has assets and liabilities related to the Company Business, including without limitation, the stock of the Subsidiaries listed on Schedule 7.8 attached hereto, (ii) the transfer to Subsidiaries of Borrower of certain assets and liabilities of Trinity related to the Company Business, including without limitation the shipyards and other property listed on Schedule 7.12 attached hereto, and all related real estate, leases, equipment, inventory and receivables, and (iii) the assumption by Borrower of the Assumed Trinity Indebtedness. Continuing Guarantee shall mean the unlimited continuing guarantee of all of Borrower's Obligations executed now or at any time hereafter by each Subsidiary other than Offshore and delivered to Agent, in the form of Exhibit C attached hereto and incorporated herein by reference. Default shall mean any event or condition the occurrence of which would, with the lapse of time or the giving of notice or both, become an Event of Default as defined in Section 9 hereof. Debt of any Person shall mean, as of the date of determination thereof, the sum of (a) all Indebtedness of such Person for borrowed money or which has been incurred to acquire Property plus (b) all Capitalized Lease Obligations of such Person. Disbursement Date shall have the meaning ascribed thereto in Section 4.3. Distribution in respect of any corporation shall mean:
Consolidated Tangible Net. Worth shall mean, as of the date of any determination thereof, the sum of (a) Consolidated Net Worth as of such date minus (b) the book value of all Intangible Assets of Borrower and its Subsidiaries as of such date minus (c) to the extent not reflected as a liability on the consolidated balance sheet of Borrower and its Subsidiaries as of such date, all Indebtedness of Borrower and its Subsidiaries of the types described in clauses (b) and (c) of the definition of Indebtedness as of such date, all determined on a consolidated basis and in accordance with GAAP. Consolidated Total Capitalization shall mean, as of the date of any determination thereof, the sum of (a) Consolidated Funded Debt as of such date plus (b) Consolidated Net Worth as of such date, all determined on a consolidated basis and in accordance with GAAP. Creditors shall have the meaning ascribed thereto in the Intercreditor Agreement. Default shall mean any event or condition the occurrence of which would, with the lapse of time or the giving of notice or both, become an Event of Default as defined in Section 7 hereof. Debt of any Person shall mean, as of the date of determination thereof, the sum of (a) all Indebtedness of such Person for borrowed money and/or which has been incurred in connection with the purchase or other acquisition of Property or assets (other than unsecured trade accounts payable incurred in the ordinary course of business) and/or which bears interest plus (b) all Capitalized Lease Obligations of such Person plus (c) all Guarantees by such Person of Debt of others. Distribution in respect of any corporation shall mean:
Consolidated Tangible Net. Worth shall mean as of any date of determination, total equity (determined before the after-tax effect of changes in accounting principles) less intangible assets of the Borrower and its Subsidiaries as of such date, all as determined and consolidated in accordance with GAAP. Contamination shall mean the presence or Release or threat of Release of Regulated Substances in, on, under or emanating to or from the Property, which pursuant to Environmental Laws requires notification or reporting to an Official Body, or which pursuant to Environmental Laws requires the investigation, cleanup, removal, remediation, containment, abatement of or other response action or which otherwise constitutes a violation of Environmental Laws. Contribution Agreement shall mean that certain Contribution Agreement among the Borrower, AWAC, ARCO, Delta Housing and the Parent. Debt shall mean for any Person as of any date of determination, the sum, without duplication, of the following for such Person, as of such date, determined in accordance with GAAP: (i) all indebtedness for borrowed money (including all subordinated indebtedness), (ii) all amounts raised under or liabilities in respect of any note purchase or acceptance credit facility, (iii) all indebtedness in respect of any other transaction (including production payments (excluding royalties), installment purchase agreements, forward sale or purchase agreements, capitalized leases and conditional sales agreements) having the commercial effect of a borrowing of money entered into by such Person to finance its operations or capital requirements, (iv) reimbursement obligations (contingent or otherwise) under any letter of credit, and (v) the amount of all indebtedness (whether matured or unmatured, liquidated or unliquidated, direct or indirect, absolute or contingent, or joint or several) in respect of all Guarantees by such Person (the "Guaranteeing Person") of Debt of other Persons (each such other Person being a "Primary Obligor" and the obligations of a Primary Obligor which are subject to a Guarantee by a Guaranteeing Person being "Primary Obligations") (it being understood that if the Primary Obligations of the Primary Obligor do not constitute Debt, then the guarantee by the Guaranteeing Person of the Primary Obligations of the Primary Obligor shall not constitute Debt).
Consolidated Tangible Net. Worth shall mean as of any date of determination total stockholders' equity less intangible assets of the Borrower and its Subsidiaries as of such date determined and consolidated in accordance with GAAP. Dollar, Dollars, U.S. Dollars and the symbol $ shall mean lawful money of the United States of America. Environmental Complaint shall mean any written complaint setting forth a cause of action for personal or property damage or natural resource damage or equitable relief, order, notice of violation, citation, request for information issued pursuant to any Environmental Laws by an Official Body, subpoena or other written notice of any type relating to, arising out of, or issued pursuant to, any of the Environmental Laws or any Environmental Conditions, as the case may be. Environmental Conditions shall mean any conditions of the environment, including the workplace, the ocean, natural resources (including flora or fauna), soil, surface water, groundwater, any actual or potential drinking water supply sources, substrata or the ambient air, relating to or arising out of, or caused by, the use, handling, storage, treatment, recycling, generation, transportation, release, spilling, leaking, pumping, emptying, discharging, injecting, escaping, leaching, disposal, dumping, threatened release or other management or mismanagement of Regulated Substances resulting from the use of, or operations on, any Property. Environmental Laws shall mean all federal, state, local and foreign Laws and regulations, including permits, licenses, authorizations, bonds, orders, judgments, and Exhibit (10.2)-p 5 11 consent decrees issued, or entered into, pursuant thereto, relating to pollution or protection of human health or the environment or employee safety in the workplace. ERISA shall mean the Employee Retirement Income Security Act of 1974, as the same may be amended or supplemented from time to time, and any successor statute of similar import, and the rules and regulations thereunder, as from time to time in effect. ERISA Group shall mean, at any time, the Borrower and all members of a controlled group of corporations and all trades or businesses (whether or not incorporated) under common control and all other entities which, together with the Borrower, are treated as a single employer under Section 414 of the Internal Revenue Code. Event of Default shall mean any of the events described in Section 8. 1 and referred to therein as an "Event of Default."
Consolidated Tangible Net. Worth shall mean as of any date of determination total stockholders' equity less intangible assets of the Loan Parties as of such date, determined and consolidated in accordance with GAAP. Contamination shall mean the presence or release or threat of release of Regulated Substances in, on, under or emanating to or from the Real Property, which pursuant to Environmental Laws requires notification or reporting to an Official Body, or which pursuant to Environmental Laws requires performance of Remedial Action or that otherwise constitutes a violation of Environmental Laws. Conventional O & G shall mean all liquid or gaseous hydrocarbons, other than Coal Gas, including, without limitation, condensate, distillate, and other substances produced with each of the foregoing or refined therefrom, in each case, whether known or unknown. For the avoidance of doubt, the term "Conventional O & G" shall expressly include, without limitation, all substances commonly known as "conventional oil and gas."