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
Guarantors Net Worth means, in the aggregate, the sum of the net worth of Guarantor in US assets based on audited financials, in each case as calculated in accordance with GAAP (on an accrual basis), but specifically excluding any net worth (gross asset value and liabilities) attributed to Borrower or the Property.
Examples of Guarantors Net Worth in a sentence
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.
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.
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).
If Borrower's Debt Service Coverage Ratio for the relevant period is less than 1.85x, Lender shall calculate Guarantor's Net Worth in accordance with the Actual Standard (defined below).
More Definitions of Guarantors Net Worth
Guarantors Net Worth has the meaning specified in Section 11.1.
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 int he 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. 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 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.
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;