Inventory Value means with respect to any Inventory of a Loan Party at the time of any determination thereof, the standard cost determined on a first in first out basis and carried on the general ledger or inventory system of such Loan Party stated on a basis consistent with its current and historical accounting practices, in Dollars, determined in accordance with the standard cost method of accounting less, without duplication, (i) any markup on Inventory from an Affiliate and (ii) in the event variances under the standard cost method are expensed, a Reserve reasonably determined by the Agent as appropriate in order to adjust the standard cost of Eligible Inventory to approximate actual cost.
Estimated Closing Statement has the meaning set forth in Section 2.4(a).
Statutory Statement means a statement of the condition and affairs of an Insurance Subsidiary, prepared in accordance with accounting procedures and practices prescribed or permitted by an applicable insurance regulatory authority or the NAIC, as modified in accordance with permitted practices approved by an applicable insurance regulatory authority, and filed with an applicable insurance regulatory authority or the NAIC.
Transferred Inventory has the meaning set forth in Section 1.1(e).
Final Working Capital Statement has the meaning set forth in Section 2.04.
Closing Statement means the Closing Statement in the form on Annex A attached hereto.
Estimated Closing Balance Sheet has the meaning set forth in Section 2.6(a).
Estimated Cash has the meaning set forth in Section 2.4(a).
Obsolete Inventory means items that have expired, are redundant or
Working Capital Statement has the meaning set forth in Section 2.3(a).
Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.
Closing Working Capital Statement has the meaning set forth in Section 2.04(b)(i).
Audited financial statement means a financial statement audited by an outside accounting firm.
Closing Financial Statements has the meaning set forth in Section 6.22.
Excluded Inventory shall have the meaning set forth in Section 2.4.
Monthly Statement The statement delivered to the Certificateholders pursuant to Section 4.06.
Final Statement means the statement defined in Sub-Clause 14.11 [Application for Final Payment Certificate].
Statutory Statements means, with respect to any Regulated Insurance Company for any fiscal year, the annual or quarterly financial statements of such Regulated Insurance Company as required to be filed with the Insurance Regulatory Authority of its jurisdiction of domicile and in accordance with the laws of such jurisdiction, together with all exhibits, schedules, certificates and actuarial opinions required to be filed or delivered therewith.
Estimated Closing Cash has the meaning set forth in Section 2.4(a).
Estimated revenue means the amount of revenue estimated to be received from all sources during the budget year in each fund for which a budget is being prepared.
Operating Statement Analysis Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.
Annual Statement means, with respect to any Insurance Subsidiary for any fiscal year, the annual financial statements of such Insurance Subsidiary as required to be filed with the Insurance Regulatory Authority of its jurisdiction of domicile and in accordance with the laws of such jurisdiction, together with all exhibits, schedules, certificates and actuarial opinions required to be filed or delivered therewith.
Estimated Closing Date Balance Sheet shall have the meaning set forth in Section 2.3(a) hereof.
Audited Financial Statements means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2017, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto.
Explanatory Statement means the explanatory statement which forms part of the Notice;
Financial Statement has the meaning set forth in Section 4(g) below.