Guarantors Net Worth means, with respect to the Guarantors, as of a given date, the sum of (i) the Net Assets of the Morgans Guarantor, and (ii) the Net Worth of (x) the DLJ Guarantor and (y), without duplication, each of the DLJMB Parties, including for purposes of this computation, and subject to the following proviso, the Net Worth of any limited partner of Co-Investments LP that shall have entered into an equity commitment letter satisfactory to Lender, for the express benefit of Lender, pursuant to which such limited partner of Co-Investments LP agrees to, and recognizes the rights of Lender in place and instead of the general partner or manager of Co-Investments LP to require such limited partner of Co-Investments LP to, make contributions to Co-Investments LP directly to Lender, in an aggregate amount not exceeding one hundred fifty (150%) percent of the aggregate Net Worth of the DLJMB Parties other than Co-Investments LP, provided that Lender is given, from time to time, such information as it may reasonably request (including an opinion of counsel to Co-Investments LP in respect of the following clause (B)) to confirm (A) the Net Worth of the limited partners of Co-Investments LP, and (B) that they are and remain obligated to make capital contributions to Co-Investments LP in such aggregate amounts in order to cause the DLJ Guarantor or the DLJMB Parties to pay and perform the Guaranteed Obligations.
Guarantors Net Worth means, as to any Guarantor, as of any date of determination thereof: (a) the aggregate fair saleable value of the assets of such Guarantor as of such date (including the fair saleable value of the amounts received or receivable by such Guarantor pursuant to its rights to subrogation, contribution and indemnity), minus (b) the amount of all liabilities of such Guarantor, contingent or otherwise, as of such date (but excluding all contingent liabilities under this Guaranty), minus (c) One Dollar ($1.00). It is agreed that a Guarantor's Net Worth may fluctuate from time to time after the date it becomes a Guarantor, as it is determined on each Determination Date (as defined in the definition of "Maximum Amount").
Guarantors Net Worth has the meaning specified in Section 11.1.
Examples of Guarantors Net Worth in a sentence
As of the end of each Fiscal Quarter, Guarantor's Net Worth shall not be less than $5,000,000.
The term "Proportionate Share" at any time shall mean with respect to any Guarantor the percentage derived by dividing (a) such Guarantor's Net Worth of such Guarantor by (b) the consolidated Guarantor's Net Worth of all Guarantors, all as of such time.
If, at any time while the Loan remains outstanding, New Guarantor's Net Worth falls below the minimum amounts set forth in the previous sentence, New Guarantor shall cause New Borrower to provide a replacement guarantor and environmental indemnitor whose Net Worth does satisfy the requirements of this Section.
It is agreed that a Guarantor's Net Worth may fluctuate from time to time after the date hereof as it is determined on each Determination Date (as defined in the definition of "Maximum Amount").
If Borrower's Debt Service Coverage Ratio for the preceding twelve (12) month period is greater than or equal to 1.85x, Lender shall calculate Guarantor's Net Worth in accordance with the Alternative Standard (defined below).
More Definitions of Guarantors Net Worth
Guarantors Net Worth means, as of any date of determination thereof and with respect to Guarantor: (a) the aggregate fair saleable value of the assets of Guarantor as of such date (including the fair saleable value of the amounts received or receivable by Guarantor pursuant to its rights to subrogation, contribution and indemnity), minus (b) the amount of all liabilities of Guarantor, contingent or otherwise, as of such date (but excluding all contingent liabilities under this Guaranty). It is agreed that Guarantor’s Net Worth may fluctuate from time to time after the date hereof, as it is determined on each Determination Date (as defined in the definition of “Maximum Amount”).
Guarantors Net Worth means, as of any date of determination thereof and with respect to each Guarantor: (a) the aggregate fair saleable value of the assets of such Guarantor as of such date (including the fair saleable value of the amounts received or receivable by such Guarantor pursuant to its rights to subrogation, contribution and indemnity), minus (b) the amount of all liabilities of such Guarantor, contingent or otherwise, as of such date (but excluding all contingent liabilities under this Guaranty). It is agreed that a Guarantor’s Net Worth may fluctuate from time to time after the date hereof, as it is determined on each Determination Date (as defined in the definition of “Maximum Amount”).
Guarantors Net Worth means, as to any Guarantor, (a) the fair value of the property of such Guarantor from time to time (taking into consideration the value, if any, of rights of subrogation, contribution and indemnity), plus (b) such Guarantor's rights under any contribution agreement, minus (c) the total liabilities of such Guarantor (including contingent liabilities discounted in appropriate instances, but excluding liabilities of such Guarantor under this Guaranty) from time to time. It is agreed that a Guarantor's Net Worth may fluctuate from time to time after the date hereof as it is determined on each Determination Date (as defined in the definition of "Maximum Amount"). "Joinder Agreement" means each Joinder Agreement from time to time executed and delivered to the Purchasers by a Subsidiary of NPCI, pursuant to the terms of the Note Agreements, for the purpose, among others, of becoming an additional Guarantor hereunder, substantially in the form of Exhibit A attached hereto. "Note Agreements" means, collectively, each Note Agreement dated as of May 1, 1997, among the Company, NPCI and each Purchaser whereby the Company has agreed to issue to the Purchasers its 7.94% Senior Guaranteed Notes Due May 1, 2006 in the aggregate stated principal amount of $50,000,000, as the same may be amended, restated, consolidated or otherwise modified from time to time. "Maximum Amount" means, with respect to any Guarantor, the greater of (a) all proceeds (without duplication) of the Debt directly or indirectly (by intercompany loan, advance, capital contribution, such Guarantor's ownership interest in any Person receiving the proceeds of the Debt, or otherwise) advanced to or for the amount of, or used by or for the benefit of, such Guarantor (which in the case of NPCI, shall mean 100% of the Debt); (b) ninety-five percent (95%) of Guarantor's Net Worth from time to time; or (c) the amount that in a legal proceeding brought within the applicable limitations period is determined by the final, nonappealable order of a court having jurisdiction over the issue and the applicable parties to be the amount of value given by the Purchasers, or received by such Guarantor, in exchange for the obligations of Guarantor under this Guaranty. If on any date after the date hereof (any such date being herein called a "Determination Date"), ninety-five percent (95%) of such Guarantor's Net Worth is greater than either of the amounts described in clauses (a) and (c) above, the Maximum Amount shall be d...
Guarantors Net Worth. Guarantor’s Total Assets less Guarantor’s total Indebtedness determined in accordance with GAAP.
Guarantors Net Worth means (a) the fair value of the Property of Guarantor from time to time (taking into consideration the value, if any, of rights of subrogation, contribution and indemnity), minus (b) the total liabilities of Guarantor (including contingent liabilities [discounted in appropriate instances], but excluding liabilities of Guarantor under this Guaranty and the other Loan Documents executed by Guarantor) from time to time. It is agreed that Guarantor's Net Worth may fluctuate from time to time after the date hereof as it is determined on each Determination Date (as defined in the definition of "Maximum Amount").
Guarantors Net Worth means the Guarantor's Common Stockholders' Equity plus (i) any preferred stock of the Guarantor, as set forth on a consolidated balance sheet of the Guarantor, and (ii) the lesser of (A) the outstanding amount of any guarantee of an obligation given by the Guarantor or any Subsidiary of the Guarantor to a lender to a trust holding assets of any employee benefit plan of the Guarantor or any Subsidiary of the Guarantor for the purpose of allowing such trust to borrow monies, which amount has been reflected on the consolidated balance sheet of the Guarantor as a reduction of common stockholders' equity, or (B) two-thirds of the value of any stock held by such trust securing such obligation of the trust. The value of a share of common stock (par value ten cents (U.S. Dollars) per share) of the Guarantor at any point in time shall be the average closing price of a share of such common stock on the New York Stock Exchange, Inc. (or its successor) for the 90-day period immediately preceding the date of determination;
Guarantors Net Worth means as of a given date, Guarantor’s total consolidated stockholder’s and partners’ equity minus (to the extent reflected in determining stockholders’ equity of Guarantor): (i) the amount of any write-up in the book value of any assets reflected in any balance sheet resulting from revaluation thereof or any write-up in excess of the cost of such assets acquired, and (ii) the aggregate of all amounts appearing on the assets side of any such balance sheet for patents, patent applications copyrights, trademarks, trade names, goodwill and other like assets which would be classified as intangible assets under GAAP (but expressly excluding all lease and real estate-related intangibles), all determined on a consolidated basis.