Guaranteed Net Worth definition

Guaranteed Net Worth means the amount of $163,092, less the net book value, as of June 30, 1997, of the Excluded Assets.

Guaranteed Net Worth. The term "Guaranteed Net Worth" shall mean the amount of $254,901, as such amount may be increased under Section 2.6 upon payment of the Notes Payable by the Buyer.

Guaranteed Net Worth. The term "Guaranteed Net Worth" shall mean $220,911.

Examples of Guaranteed Net Worth in a sentence

• Within 30 days after the IPO Closing Date, the Buyer and Seller shall adjust the Purchase Price of the Assets as set forth in Sections 2.4 and 2.5, and the Buyer shall deliver to Seller, or Seller shall deliver to Buyer, cash equal to the differential between the Guaranteed Net Worth and the Final Net Worth, if any.

• In the event that the Final Net Worth is less than the Guaranteed Net Worth, the Seller shall within 15 days refund the amount of such deficiency in cash to Buyer.

• In the event that the Final Net Worth is more than the Guaranteed Net Worth, the Buyer shall within 15 days pay the amount of such excess in cash to the Seller.

• In the event that the Final Net Worth is less than the Guaranteed Net Worth, the Sellers shall within 15 days refund such amount of cash to Buyer.

• If the Final Net Worth of Seller as finally determined pursuant to Section 2.4 shall be less than the Guaranteed Net Worth, then each element of the Initial Purchase Price (cash, principal of Note 1 and principal of Note 2) shall be decreased in proportion to the percentage it represents of the total Initial Purchase Price paid at Closing, and Seller shall promptly return such portion of cash overpayment to Buyer.

More Definitions of Guaranteed Net Worth

Guaranteed Net Worth means $220,911.

Guaranteed Net Worth means the amount of $955,822.

Guaranteed Net Worth means the amount of Six Hundred Fifty-Four Thousand Two Hundred Eighty-Eight Dollars ($654,288).

Guaranteed Net Worth means the Net Worth as shown on the Balance Sheet (excluding loans to shareholders of the Company in the amount of $70,119 as of September 30, 1996) which is $735,846.00.

Guaranteed Net Worth means $1,856,996.15 which is equal to (i) the Net Worth as of October 31, 1996 ($295,283.89), plus (ii) the accounts receivable of the Company as of October 14, 1996, ($2,298,381.74), plus (iii) all accumulated depreciation as of October 31, 1996 ($143,425.08), minus (iv) the accounts payable and other current liabilities of the Company as of October 31, 1996 ($661,661.28), minus (v) cash balances at City National Bank as of October 31, 1996 ($236,758.81), minus (vi) stockholder loans borrowed by the Seller from the Company as of October 31, 1996 (($18,325.53)), minus (vii) the gross book value of automobiles as of October 31, 1996 ($0.00).

Guaranteed Net Worth means $69,735.

Guaranteed Net Worth means $75,000.