Effective Net Worth means total assets minus Total Liabilities. "Total Liabilities" shall mean all liabilities of Guarantor excluding debt fully subordinated to Bank on terms and conditions acceptable to Bank, and including capitalized leases and all reserves for deferred taxes and other deferred sums appearing on the liabilities side of a balance sheet, in accordance with generally accepted account principles applied on a consistent basis.
Effective Net Worth means, as of the date of determination thereof, Total Assets, excluding all Intangible Assets and all loan receivables and other obligations payable to the Borrower less Total Liabilities excluding Subordinated Indebtedness, all calculated with respect to the Borrower.
Effective Net Worth means, with respect to the Borrower, total assets minus total liabilities, in each case determined in accordance with GAAP on a consolidated basis.
Examples of Effective Net Worth in a sentence
The total number of shares and the par value, if any, of each class of stock which the Surviving Corporation is authorized to issue shall be 200,000 shares of Common Stock, $.01 par value per share.
Thereafter, to the extent that the Letter of Credit is extended, the Borrower shall maintain Effective Net Worth as required by the Bank.
Maintain at all times a Consolidated Tangible Effective Net Worth of not less than Base Consolidated Tangible Effective Net Worth.
On the Computation Date, the Tangible Effective Net Worth, which is required to be not less than $ , was $ as computed in the supporting documents attached hereto as Schedule 1.
Tangible Effective Net Worth shall mean, with respect to any Person and as of any applicable date of determination, Tangible Net Worth plus Subordinated Debt.
More Definitions of Effective Net Worth
Effective Net Worth means at any date, as to the Company and ------------------- its Subsidiaries, (a) Book Net Worth (including the value of excess servicing net of reserves), minus (b) the aggregate outstanding principal amount of all loans and advances outstanding to officers and employees of the Company and its Subsidiaries, plus (c) the aggregate outstanding principal amount of all Subordinated Debt, minus (d) the capitalized value of the Company's servicing portfolio, minus (e) fifteen percent (15%) of the aggregate unpaid principal balance of all Mortgage Loans held by the Company for long-term investment purposes, all determined on a consolidated basis in accordance with GAAP.
Effective Net Worth means Tangible Net Worth plus the amount of outstanding Subordinated Indebtedness.
Effective Net Worth means, at a given lime, the total capital employed by the UK Group as disclosed by the consolidated annual financial statements of Vanguard Holdings for the financial year ending 31 December 2003, plus:
Effective Net Worth means, at any particular date with respect to any Person, the amount of excess of Consolidated Total Assets over Consolidated Total Liabilities, excluding subordinated debt, the subordination of which must be satisfactory to the Bank in its sole discretion, which would, in conformity with GAAP, be included under shareholders' equity on a balance sheet of such entity as at such date, excluding, however, from the determination of Consolidated Total Assets, without duplication (i) all intangible assets, including, without limitation, organizational expenses, patents, trademarks, copyrights, goodwill, covenants not to compete, research and developmental costs, training costs, and deferred charges, (ii) all amounts due at any time and from time to time from Affiliates, and (iii) all shareholder loans.
Effective Net Worth means the total of all assets appearing on a balance sheet prepared in accordance with generally accepted accounting principles for HGL and its Subsidiaries on a consolidated basis, after deducting therefrom (without duplication of deductions):
Effective Net Worth means, at any particular date, (i) the amount of the excess of Total Assets over Total Liabilities, excluding, however, from the determination of Total Assets all intangible assets, including, without limitation, organizational expenses, patents, trademarks, copyrights, goodwill, covenants not to compete, research and developmental costs, training costs, and deferred charges, and excluding, however, from the determination of Total Liabilities the principal amount of, and the accrued interest with respect to, any Debt referenced in Section 8.01(c) hereof, less (ii) all amounts due at any time and from time to time from Affiliates (other than all amounts (the "Amounts") due at any time and from time to time from any Affiliates which have guaranteed the obligations of the Borrower to the Banks under the Facility Documents in form and substance (with respect to such guarantee) reasonably satisfactory to the Banks to the extent that such Amounts are included in the determination of Total Assets) less (iii) all treasury stock.
Effective Net Worth means, at any particular time, the aggregate of each of the following, all calculated in accordance with GAAP: