Current Assets of the Company definition

Current Assets of the Company means (i) the current assets of the Company plus (ii) any non-current assets for inventories of spare parts of the Company, in each case, as calculated in Brazilian Reais and in accordance with the Accounting Principles; provided, however, that Current Assets of the Company shall not include (A) any Tax-related items, (B) any receivables of the Company from Petróleo Brasilero S.A. or its Affiliates pursuant to the Share Purchase and Sale Agreement (Contrato de Compra e Venda de Ações e Outras Avenças), dated December 18, 2012, by and among the Company, Petróleo Brasilero S.A., Araucária Nitrogenados S.A., Vale S.A. and Vale Potássio do Nordeste S.A. (as amended), (C) any items included in the calculation of Closing Cash or (D) any intercompany obligations between or among HoldCo, the Company and any of the Subsidiaries of the Company that are wholly owned, directly or indirectly, by the Company and the Subsidiary Sellers.
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Current Assets of the Company means the Company’s and the Subsidiaries’ current assets (calculated as the sum of inventory, prepaid expenses and accounts receivable, but shall not include: cash or cash equivalents; any item relating to or in respect of Tax (including but not limited to Tax deposits or deferred income Taxes); or any prepaid expenses paid to or accounts receivable from Seller or any Affiliate of Seller), all as recorded on the Preliminary Closing Statement or on the Final Closing Statement, as applicable.
Sample 1
Current Assets of the Company means the following current asset line items from the Company’s balance sheet: (i) Cash and Cash Equivalents, (ii) Restricted Cash, (iii) Accounts Receivable (including Accounts Receivable — Officers, Accounts Receivable – Employees and Interest Receivable), (iv) Unbilled Receivables and Advances against Customer Contracts, (v) Inventory (including Short Term Inventory, Long Term Inventory and Inventory of Discontinued Operations), (vi) Deposits, (vii) Prepaid Expenses , (viii) Prepaid Insurance, (ix) Cash Surrender Value of Life Insurance Policies, (x) Prepaid Taxes and (x) Other Current Assets. For purposes of this Section 1.3, the Inventory Assets shall be included in “Current Assets of the Company.” For purposes of this Section 1.3, “Current Liabilities of the Company” means the following current liability line items from the Company’s balance sheet: (i) Accounts Payable, (ii) Payables to Partners – Profit Participation, (iii) Accrued Expenses and Other Current Liabilities (including Accrued Interest Expense, Accrued Payroll Taxes, Accrued Vacation Payable, Accrued Pension, Accrued MEDFSA Payable and Accrued Sales Taxes Payable), (iv) Auction and Liquidation Proceeds Payable, (v) Current Portion of Capital Lease Obligations, (vi) Bank Line of Credit (short term financing with deal financing partners) and (vii) Notes Payable booked in the Current Liabilities section of the Company’s Balance Sheet. For Purposes of this Agreement, “Current Liabilities of the Company” shall not include any of the following current liability line items from the Company’s Balance Sheet at Closing: (i) Accrued Compensation Plan – Phantom Stock, (ii) Accrued Compensation Plan – Members’ Employment Agreement Obligations, (iii) Any Expenses Accrued or Reserved related to matters associated with the Reorganization or related to future Phantom Stock Payments or current or future stock-based compensation or Reorganization -related Contingency Cash Payments or Contingency Stock Payments and (iv) any amounts accrued or payable related to the fair market value of Minority LLC interests.
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Examples of Current Assets of the Company in a sentence

  • To the extent of a shortfall in asset cover charge, then on the other Current Assets of the Company by way of first pari-passu charge in favour of the Debenture Trustee.

  • The ratio (expressed as a percentage) of the Consolidated Current Assets of the Company and its Subsidiaries to the Consolidated Current Liabilities of the Company and its Subsidiaries shall not at any time be less than 120%.

  • The armored car courier will then deliver it to our authorized banking institution.• Copies of each deposit transaction along with all supporting documentation are kept on file in the Center’s office.

  • The ratio as at December 31, 2018 is 0.01:1.00 (2017 - 0.22:1.00); •the ratio of Current Assets of the Company on a consolidated basis (calculated, in the case of crude oil inventory, by adjusting the value to market value) to Current Liabilities of the Company on a consolidated basis on each financial covenant test date will not be less than 1.00:1.00.

  • The above facility is secured by Hypothecation of entire Stock and Current Assets of the Company.

  • Amount in `)ParticularsAs at March 31, 2020As at March 31, 2019Loans repayable on demand - Secured Working Capital Loan from Indusind Bank Ltd7,61,57,29411,61,33,091Secured by way of : i) First Charge on entire Fixed Assets and Current Assets of the Company both present and future.

  • As at31st March, 2012As at31st March, 2011Secured Loan From Banks - Working Capital Loan 10,000-Unsecured Loan - Other Short Term Loan 15,500- Total25,500- 6.1 Working Capital Loan is secured by first pari passu charge on Fixed and Current Assets of the Company.

  • The ratio as at September 30, 2017 is 0.82:1.00, the Company is in compliance with the ratio; •the ratio of Current Assets of the Company on a consolidated basis (calculated, in the case of crude oil inventory, by adjusting the value to market value) to Current Liabilities of the Company on a consolidated basis on each financial covenant test date will not be less than 1.00:1.00.

  • During the term of this Agreement, the Board of Directors are responsible to perform the following: I | Maintain accounting to the best of their ability of the Current Assets of the Company, as required by statute.

  • Overdues: Nil (Nil) Axis Bank Ltd Date of Sanction: 28.11.2011 Ref No. AXISB/SME/CHN-MEG/58/2011-12 Limit: Cash Credit of ₹ 10 Crore+Stand by ₹ 1 Crore Liability - ₹ 10,21,66,504/- (₹ 8,27,87,986/-) Period Of Repayment: On Demand Security: All Current Assets of the Company and personal guarantee of four Promoter Directors and three erstwhile Directors.


More Definitions of Current Assets of the Company

Current Assets of the Company means accounts receivable (net of a reserve for uncollectible accounts), inventory (net of an inventory reserve), prepaid expenses and other current assets of the Acquired Companies, but excluding (i) the portion of any prepaid expense of which Buyer will not receive the benefit following the Closing, (ii) deferred Tax assets, (iii) receivables from any of the Company’s Affiliates, managers, employees, officers or members and any of their respective Affiliates and (iv) cash and cash equivalents.
Sample 1
Current Assets of the Company means the current assets of the Company and the Company Subsidiaries calculated in accordance with Signing GAAP. For purposes of this Section 1.3, “Current Liabilities of the Company” means the current liabilities of the Company and the Company Subsidiaries calculated in accordance with Signing GAAP..
Sample 1
Current Assets of the Company means the Company current assets as recorded on the Preliminary Closing Statement or on the Final Closing Statement, as applicable and (B) “Current Liabilities of the Company” means the Company current liabilities as recorded on the Preliminary Closing Statement or on the Final Closing Statement, as applicable;
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Current Assets of the Company. Section 11.2(ll)(A) “Current Liabilities of the Company” Section 11.2(ll)(B) “Disputes Auditor” Section 11.2(l) “Dispute Notice” Section 2.3 “DLLCA” Recitals “Earn-Out Period” Section 11.2(m) “Earn-Out Restaurants” Section 11.2(n) “Effective Time” Section 1.2 “Environmental Law” Section 3.18(b) “Employee Benefit Plans” Section 3.11(a) “ERISA” Section 3.11(a) “Estimated Cash Deduction Amount” Section 1.4(c)
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Related to Current Assets of the Company

  • Parent Assets means all Assets of either Party or the members of its Group as of the Effective Time, other than the SpinCo Assets, it being understood that, notwithstanding anything herein to the contrary, the Parent Assets shall include:

  • Current Assets means, at any time, the consolidated current assets (other than cash and Permitted Investments) of the Borrower and the Subsidiaries.

  • Parent Liabilities shall have the meaning set forth in Section 2.3(b).

  • Current Liabilities are all obligations and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s Total Liabilities that mature within one (1) year.

  • Consolidated Assets means, at a particular date, all amounts which would be included under total assets on a consolidated balance sheet of the Company and its Subsidiaries as at such date, determined in accordance with GAAP.

  • Investment Assets means all debentures, notes and other evidences of Indebtedness, stocks, securities (including rights to purchase and securities convertible into or exchangeable for other securities), interests in joint ventures and general and limited partnerships, mortgage loans and other investment or portfolio assets owned of record or beneficially by the Company.

  • Performing Cash Pay Mezzanine Investments means Mezzanine Investments (a) as to which, at the time of determination, not less than 2/3rds of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in cash and (b) which are Performing.

  • Consolidated Liabilities means, as at any date of determination, all liabilities of the Borrower and its Subsidiaries as of such date classified as liabilities in accordance with GAAP and determined on a Consolidated basis.

  • Consolidated Current Liabilities means, as at any date of determination, the total liabilities of Holdings and its Subsidiaries on a consolidated basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current portion of long term debt.

  • Consolidated Current Assets means, as at any date of determination, the total assets of Company and its Subsidiaries on a consolidated basis which may properly be classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.

  • Independent Assets or Operations means, with respect to any such parent company, that such parent company’s total assets, revenues, income from continuing operations before income taxes and cash flows from operating activities (excluding in each case amounts related to its investment in the Issuer and the Restricted Subsidiaries), determined in accordance with GAAP and as shown on the most recent balance sheet of such parent company, is more than 3.0% of such parent company’s corresponding consolidated amount.

  • Unconsolidated Affiliates means an Affiliate of the Parent Entity or any other member of the Consolidated Group whose financial statements are not required to be consolidated with the financial statements of the Parent Entity in accordance with GAAP.

  • Performing Non-Cash Pay Mezzanine Investments means Performing Mezzanine Investments other than Performing Cash Pay Mezzanine Investments.

  • Consolidated Group means the Borrower and all Subsidiaries which are consolidated with it for financial reporting purposes under GAAP.

  • Consolidated Net Assets means the aggregate amount of assets (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities, as set forth on the Consolidated balance sheet of the Consolidated Group most recently furnished to the Lenders pursuant to Section 5.01(i)(ii) prior to the time as of which Consolidated Net Assets shall be determined.

  • Liquid Assets mean Borrower's cash on hand plus Borrower's readily marketable securities.

  • Consolidated Net Tangible Assets means total assets (less depreciation and valuation reserves and other reserves and items deductible from gross book value of specific asset accounts under GAAP) after deducting therefrom (i) all current liabilities and (ii) all goodwill, trade names, trademarks, patents, unamortized debt discount, organization expenses, and other like intangibles, all as set forth on the most recent balance sheet of the Company and its consolidated Subsidiaries and computed in accordance with GAAP.

  • Portfolio Companies means any Person in which any Fund owns or has made, directly or indirectly, an investment.

  • Off-Balance Sheet Obligations With respect to any Person and any date, to the extent not included as a liability on the balance sheet of such Person, all of the following with respect to such Person as of such date: (a) monetary obligations under any financing lease or so-called “synthetic,” tax retention or off-balance sheet lease transaction that, upon the application of any Insolvency Laws, would be characterized as indebtedness, (b) monetary obligations under any sale and leaseback transaction that does not create a liability on the balance sheet of such Person, or (c) any other monetary obligation arising with respect to any other transaction that (i) is characterized as indebtedness for tax purposes but not for accounting purposes, or (ii) is the functional equivalent of or takes the place of borrowing but that does not constitute a liability on the balance sheet of such Person (for purposes of this clause (c), any transaction structured to provide tax deductibility as interest expense of any dividend, coupon or other periodic payment will be deemed to be the functional equivalent of a borrowing).

  • Consolidated Tangible Net Assets means, on any date of determination and with respect to any Person at any time, the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the consolidated balance sheet of such Person and its Consolidated Subsidiaries most recently delivered to the Lenders pursuant to Section 5.01(i) as of such date of determination, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the consolidated current liabilities of such Person and its Consolidated Subsidiaries appearing on such balance sheet.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Adjusted Consolidated Net Tangible Assets means (without duplication), as of the date of determination, the remainder of:

  • Off-Balance Sheet Liabilities of any Person shall mean (i) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by such Person, (ii) any liability of such Person under any sale and leaseback transactions that do not create a liability on the balance sheet of such Person, (iii) any Synthetic Lease Obligation or (iv) any obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person.

  • Consolidated Income Available for Fixed Charges means, with respect to any period, Consolidated Net Income for such period plus all amounts deducted in the computation thereof on account of (a) Fixed Charges and (b) taxes imposed on or measured by income or excess profits.

  • Invested Assets means the sum of the market value of the securities held in the Portfolios, and shall not include cash or cash equivalents.

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.