GAAP Net Worth definition

GAAP Net Worth means with respect to any Person at any date, the excess of total assets over total liabilities of such Person on such date, each to be determined in accordance with GAAP consistent with those applied in the preparation of the financial statements referred to in Section 6.1 of this Agreement.

GAAP Net Worth means, for a Parent at any time, such Parent's consolidated stockholders equity, determined in accordance with generally accepted accounting principles ("GAAP"), as of the end of its most recent fiscal quarter. The term "Equity Market Capitalization" means, for a Parent at any time, (x) the aggregate market value of such Parent's outstanding publicly traded equity securities, as of the end of its most recent fiscal quarter (based on the average closing price for the most recent 20 trading days on the principal stock exchange on which such securities are traded) plus (y) the amount of stockholders equity, determined in accordance with GAAP, attributable at such time to any equity securities of such Parent that are not publicly traded. The term "Partnership Investment" means, for a Parent at any time, its investment in the Partnership, determined in accordance with GAAP as of the end of the most recent fiscal quarter. The term "Adjusted Partnership Investment" means, for a Parent at any time, (A) Lyondell's investment in the Partnership, determined in accordance with GAAP as of the end of the most recent fiscal quarter, multiplied by (B) a fraction the numerator of which is the aggregate Percentage Interest at such time of the Partner Subs owned by the Parent whose Partnership Investment is being determined and the denominator of which is the aggregate Percentage Interest at such time of the Partner Subs owned by Lyondell. The term "Percentage Interest" is used as defined in the Partnership Agreement.

GAAP Net Worth means the amount equal to a company's shareholders' equity plus minority interest, if any, as determined in accordance with GAAP.

Examples of GAAP Net Worth in a sentence

• Prior to the consummation of the Transfer, Guarantor shall also deliver to Landlord whatever information and documentation Landlord reasonably requests in order to evidence the Successor Guarantor’s net worth, as determined in accordance with GAAP (“GAAP Net Worth”), as such GAAP Net Worth shall exist immediately upon the consummation of the then-pending Transfer.

• In the event that immediately after any such Transfer, the Successor Guarantor would not have a GAAP Net Worth that equals or exceeds the Threshold Net Worth (a “Net Worth Deficiency”), Guarantor shall have the right to proceed with the then-pending Transfer if and only if Guarantor or the Successor Guarantor deposits, or causes to be deposited, with Landlord a Net Worth Security LC (as defined hereinbelow) prior to the consummation of the then-pending Transfer.

• BCR Holdings shall not permit the GAAP Net Worth of BCR Holdings and its consolidated Subsidiaries, at all times when such calculations are available and, in any event, at the end of any Fiscal Quarter, to be less than the sum of 70% of the Net Worth of BCR Holdings and its consolidated Subsidiaries as of the Closing Date.

• The ratio of (a) the Total Indebtedness of both secured and unsecured, to (b) the GAAP Net Worth of the Issuer, is limited to no more than 3:1.

• The Company shall not, without the prior written consent of the Bank, make, or incur obligations for, any capital expenditures in any fiscal year, including, without limitation, capitalized lease obligations, in excess of seven and one-half of one percent (7.50%) of the Company's GAAP Net Worth determined on a non-cumulative basis.

More Definitions of GAAP Net Worth

GAAP Net Worth means the excess of total assets of Issuer and -------------- its consolidated subsidiaries and Affiliates, if any, over total liabilities of Issuer of it consolidated subsidiaries and Affiliates in accordance with GAAP.

GAAP Net Worth means the excess of total assets of Specialty Mortgage Trust, Inc. and its consolidated subsidiaries, if any, over total liabilities of Specialty Mortgage Trust, Inc. in accordance with GAAP.

GAAP Net Worth. The meaning set forth in the definition of "Adjusted Tangible Net Worth".

GAAP Net Worth means, at any date, the stockholders' equity that would be reflected on a consolidated balance sheet of the Company and its subsidiaries at such date prepared in accordance with GAAP, inclusive of Preferred Stock, to the extent such Preferred Stock is not included in stockholders' equity in accordance with GAAP.

GAAP Net Worth means, as of any date of determination, the Company's net worth as determined in conformity with generally accepted accounting principals consistently applied.

GAAP Net Worth means the Net Worth of the Company on a consolidated basis determined in accordance with GAAP.

GAAP Net Worth means all assets of Borrower, determined in accordance with GAAP, less Total Liabilities.