Margined Assets definition

Margined Assets means the sum of (a) 80% of accounts receivable, net of bad debt reserve, as shown on the most recent balance sheet of the Borrower prepared in accordance with GAAP as delivered to Bank plus (b) the lesser of (i) 50% of inventory or (ii) 50% of raw materials and finished goods, as shown on such balance sheet, but in no event greater than the amount determined under clause (a) plus (c) 50% of net machinery and equipment.
Sample 1Sample 2
Margined Assets means the sum of (a) 80% of accounts receivable, net of bad debt reserve, as shown on the most recent balance sheet of the Borrower prepared in accordance with GAAP as delivered to Bank plus (b) the lesser of (i) 50% of inventory or (ii) 50% of raw materials and finished goods, as shown on such balance sheet, but in no event greater than the amount determined under clause (a) plus (c) 50% of net machinery and equipment; provided that all machinery and equipment that is encumbered by the Newport News Equipment Lien shall be excluded from the calculation of “Margined Assets” until such time as the Newport News Equipment Lien has been terminated, as confirmed in writing to the reasonable satisfaction of the Bank.
Sample 1
Margined Assets means (a) 85% of Asset Test Receivables as shown on the most recent balance sheet of the Borrower prepared in accordance with GAAP as delivered to the Bank, plus (b) 75% of the most recent appraised fair market value of Eligible Real Estate. This covenant will be calculated based on the financial statements (as required under this Agreement) for each quarter.
Sample 1

More Definitions of Margined Assets

Margined Assets means for any period of calculation, with respect to the Borrower and all other Covered Persons on a consolidated basis the sum of (i) 100% of cash and cash equivalents, plus (ii) 80% of customer accounts receivable and costs and estimated earnings in excess of xxxxxxxx on uncompleted contracts after deducting all reserves for bad debts and other reserves applicable thereto, plus (iii) 50% of inventories after deducting all reserves for obsolete inventory, out-of-specification inventory and other reserves applicable thereto, plus (iv) 50% of the book value of property, plant and equipment after deducting all depreciation, amortization and reserves applicable thereto.
Sample 1

Related to Margined Assets

  • Retained Assets has the meaning set forth in Section 2.2.

  • Fixed Assets means Equipment and Real Estate.

  • Included Assets has the meaning in Section 5.1(d)(ii)(A).

  • Combined Assets means the sum of Fund Assets and Other Assets; and

  • Excluded Assets has the meaning set forth in Section 2.02.

  • Retained asset account means any mechanism whereby the settlement of proceeds payable under a policy or contract is accomplished by the insurer or an entity acting on behalf of the insurer depositing the proceeds into an account with check or draft writing privileges, where those proceeds are retained by the insurer or its agent, pursuant to a supplementary contract not involving annuity benefits other than death benefits.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Assigned Assets refers to the Technology, all Derivatives, all Intellectual Property Rights, all Embodiments and Business Assets, collectively.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Specified Assets the following property and assets of such Grantor:

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.

  • Related Assets Any assets held by a Trust the return of which is linked to one or more Underlying Securities and which, if applicable, shall be described in the related Supplement or a schedule thereto.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Transferred Liabilities has the meaning set forth in Section 2.02(a).

  • Designated Assets means any property or assets (including Capital Stock of any Subsidiary) of Holdings, the Restricted Parent, the Issuer and their respective Restricted Subsidiaries constituting a business, a line or unit of a business or used in operating a business substantially as an entirety.

  • Liquid Assets mean Borrower's cash on hand plus Borrower's readily marketable securities.

  • Current Asset Collateral means all the “ABL Priority Collateral” as defined in the ABL Intercreditor Agreement.

  • Gross Assets means the total of fixed assets and current assets;

  • Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.

  • Portfolio Assets means all Loan Assets owned by the Borrower, together with all proceeds thereof and other assets or property related thereto, including all right, title and interest of the Borrower in and to:

  • Permitted Assets means any and all properties or assets that are used or useful in a Permitted Business (including Capital Stock in a Person that is a Restricted Subsidiary and Capital Stock in a Person whose primary business is a Permitted Business that shall become a Restricted Subsidiary immediately upon the acquisition of such Capital Stock by the Issuer or by a Restricted Subsidiary, but excluding any other securities).

  • Qualified Assets means any of the following assets: (i) interests, rights, options, warrants or convertible or exchangeable securities of the Partnership; (ii) Debt issued by the Partnership or any Subsidiary thereof in connection with the incurrence of Funding Debt; (iii) equity interests in Qualified REIT Subsidiaries and limited liability companies (or other entities disregarded from their sole owner for U.S. federal income tax purposes, including wholly owned grantor trusts) whose assets consist solely of Qualified Assets; (iv) up to a one percent (1%) equity interest in any partnership or limited liability company at least ninety-nine percent (99%) of the equity of which is owned, directly or indirectly, by the Partnership; (v) cash held for payment of administrative expenses or pending distribution to security holders of the General Partner or any wholly owned Subsidiary thereof or pending contribution to the Partnership; and (vi) other tangible and intangible assets that, taken as a whole, are de minimis in relation to the net assets of the Partnership and its Subsidiaries.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned, licensed or leased by such Person, including cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;