GAAP Liabilities definition

GAAP Liabilities means expenses, claims or liabilities (including probable material loss contingencies), if and to the extent that GAAP would require same to be included in items on the face of a balance sheet prepared in accordance with GAAP, based on the level of materiality and probability required for such a liability to be so included.

GAAP Liabilities means the total amount of consolidated liabilities of the Company and the Company Subsidiaries as reflected as the total liabilities on the Estimated Closing Balance Sheet and determined in accordance with GAAP.

GAAP Liabilities means, as of December 31, 2002, Liabilities reflected by the Company on a balance sheet prepared in accordance with GAAP and on a basis consistent with the June 30 Balance Sheet; provided, however, that if at any time the Company or any Designated Subsidiary becomes liable for any Liability of a Subsidiary other than a Designated Subsidiary, then such Liability will be treated as a GAAP Liability for the purposes hereof.

Examples of GAAP Liabilities in a sentence

• No later than the Original Effective Time (as defined in the following paragraph), each Insurer prepared and distributed to Reinsurer, a statement, as of December 31, 2000, of all Net GAAP Liabilities for the Subject Business.

• The calculation of the Net GAAP Liabilities, as of December 31, 2000, of the Subject Business of the Insurers was $336,284,921.

• In the event that the aggregate estimated value of the assets transferred by Lincoln Barbados exceeds the amount of the Net GAAP Liabilities, Purchaser shall pay to Lincoln Barbados (in addition to the Purchase Price) the amount of such excess in cash on the Closing Date.

• As of the Closing, GAAP Liabilities of the Company and the Company Subsidiaries, on a consolidated basis, shall not exceed $15,000,000.

• As of the Effective Time, Zap Santa Xxxx does not have any liability, indebtedness, obligation, expense, claim, deficiency, guaranty or endorsement of any type, whether accrued, absolute, contingent, known or unknown, matured or unmatured (whether or not required to be reflected in financial statements in accordance with GAAP) ("Liabilities").

More Definitions of GAAP Liabilities

GAAP Liabilities means any Liabilities that would be required by GAAP to be reflected on a consolidated balance sheet of a person (including the notes thereto); provided however that for purposes of this Agreement, the GAAP Liabilities arising under the Tax Agreement shall equal the difference between (x) $4,700,000 and (y) the amounts paid under the Tax Agreement between the date hereof and the Closing Date.

GAAP Liabilities for purposes of this EXHIBIT M means all items which, in accordance with GAAP applied on a consistent basis, would be included in determining total liabilities as shown on the liability side of a balance sheet as of the date on which liabilities are to be determined.

GAAP Liabilities means, as of any date, Liabilities of the Company as of such date that extend more than twelve (12) months from such date which would be required to be accrued on such Company’s balance sheet in accordance with GAAP.

GAAP Liabilities means, as of the date of determination, all liabilities of the Acquired Persons (whether fixed, contingent or unliquidated, absolute or otherwise) required by GAAP to be reflected on, or to the extent required by GAAP reserved for on, a consolidated balance sheet of the Acquired Companies as of such date.

GAAP Liabilities means all liabilities, obligations or commitments of any nature required to be reflected or reserved against on a balance sheet under GAAP.

GAAP Liabilities is defined in Section 3.2.2(c).

GAAP Liabilities means the Liabilities that are required to be reflected in the Company’s balance sheet prepared in accordance with GAAP as of immediately prior to the Closing (which for purposes of clarity shall include Liabilities for the failure to perform or breach of the performance obligations under a Contract and Liabilities for the inaccuracy or breach of the representations and warranties in a Contract and Liabilities resulting from the consummation of the Acquisition at the Closing, but excluding contractual Liabilities pursuant to the provisions of this Agreement and the Related Agreements).