Examples of GAAP Net Worth in a sentence
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.
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.
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.
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.
As determined in accordance with GAAP, Net Worth equal to or greater than Thirty Million Dollars ($30,000,000), measured at the end of each calendar quarter.