Minimum Adjusted Tangible Net Worth definition

Minimum Adjusted Tangible Net Worth shall have the meaning assigned to such term in the Pricing Side Letter.
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Minimum Adjusted Tangible Net Worth. The amount referenced in Section 13.12 of the Agreement is Eleven Million and No/100 Dollars ($11,000,000.00).
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Minimum Adjusted Tangible Net Worth. With respect to the Borrower, maintain an Adjusted Tangible Net Worth of not less than One Hundred Seventy-Five Million Dollars ($175,000,000) plus fifty percent (50%) of the Borrower's cumulative positive annual net income (on a consolidated basis) for each fiscal quarter from September 30, 2002 onwards, plus seventy-five percent (75%) of the net proceeds received by the Borrower (or any of the Borrower's Subsidiaries) from the issuance of Equity Interests issued after the Closing Date.
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Examples of Minimum Adjusted Tangible Net Worth in a sentence

  • Seller shall maintain, as of the end of each calendar month, a consolidated Adjusted Tangible Net Worth not less than the Minimum Adjusted Tangible Net Worth.

  • The Seller’s consolidated Adjusted Tangible Net Worth is not less than the Minimum Adjusted Tangible Net Worth.

  • Seller shall not permit its Adjusted Tangible Net Worth to be less than the Minimum Adjusted Tangible Net Worth at any time.

  • Seller’s consolidated Adjusted Tangible Net Worth is not less than the Minimum Adjusted Tangible Net Worth.

  • The agreement contains financial covenants that include the following: (1) net sales proceeds from the projects cannot be less than 90% of the aggregate loan amount project allocations and (2) Minimum Adjusted Tangible Net Worth must be at least $600.0 million.

  • Beginning at the end of the calendar month following the month in which this Amendment becomes effective, the Minimum Adjusted Tangible Net Worth shall be increased by 50% of quarterly net income.

  • Seller’s Adjusted Tangible Net Worth is not less than the Minimum Adjusted Tangible Net Worth.

  • Page 38 7.5 Minimum Adjusted Tangible Net Worth .................................

  • Minimum Adjusted Tangible Net Worth: $200,000,000 Maximum Leverage Ratio: 12:1 Minimum Liquidity Amount: $25,000,000 Fees and Expenses: Seller agrees to pay to Buyer all reasonable out of pocket costs and expenses incurred by Buyer in connection with this Pricing Side Letter (including all reasonable fees and out of pocket costs and expenses of Buyer’s legal counsel) in accordance with Section 23 of the Agreement.

  • Borrower shall not permit its Adjusted Tangible Net Worth to be less than the Minimum Adjusted Tangible Net Worth Amount set forth on Schedule A at any time hereafter.


More Definitions of Minimum Adjusted Tangible Net Worth

Minimum Adjusted Tangible Net Worth means $240,164,000. Such amount shall increase on the first day of each fiscal quarter of Company by an amount equal to fifty percent of the Consolidated Net Income of Company, if positive, calculated as of the last day of the immediately preceding fiscal quarter.
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Minimum Adjusted Tangible Net Worth shall have the meaning set forth in Section 10.7.4 hereof.
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Minimum Adjusted Tangible Net Worth means (i) with respect to PMC $150,000,000, (ii) with respect to PMH $250,000,000, and (iii) with respect to POP $700,000,000.
Sample 1
Minimum Adjusted Tangible Net Worth means, at any time, the sum of (i) $80,000,000, (ii) an amount (if positive) equal to 50% of the Consolidated Net Income of the Borrower for the period from July 1, 1995 to the end of the then most recently ended fiscal quarter (determined on a cumulative basis) and (iii) an amount equal to 50% of the net proceeds of any equity issuance received by the Borrower after August 24, 1995 (other than the proceeds of any equity issuance received by the Borrower pursuant to the Keep Well Agreement).
Sample 1

Related to Minimum Adjusted Tangible Net Worth

  • Adjusted Tangible Net Worth As of the date of determination thereof, the sum of: (i) Servicer's Tangible Net Worth; plus

  • Minimum Tangible Net Worth means, with respect to the Parent, at any time, the sum of (a) $1,418,939,250 plus (b) 75% of the aggregate net proceeds received by the Parent or any of its Subsidiaries after September 30, 2013 in connection with any offering of Stock or Stock Equivalents of the Parent or its Subsidiaries; provided however, that any such net proceeds used solely for the purpose of redeeming the Parent’s preferred stock shall not be included in such sum.

  • Effective Tangible Net Worth means the Borrower's stated net worth plus Subordinated Debt but less all intangible assets of the Borrower (i.e., goodwill, trademarks, patents, copyrights, organization expense, and similar intangible items including, but not limited to, investments in and all amounts due from affiliates, officers or employees).

  • Consolidated Tangible Net Worth means, as of any date of determination, for the Borrower and its Subsidiaries on a consolidated basis, Shareholders’ Equity of the Borrower and its Subsidiaries on that date minus the Intangible Assets of the Borrower and its Subsidiaries on that date.

  • Adjusted Net Worth of any Guarantor shall mean at any time, the greater of (x) $0 and (y) the amount by which the fair saleable value of such Guarantor’s assets on the date of the respective payment hereunder exceeds its debts and other liabilities (including contingent liabilities, but without giving effect to any of its obligations under this Agreement or any other Loan Documents) on such date.

  • Tangible Net Worth means, as of any date, (a) Total Asset Value minus (b) the sum of (i) Consolidated Total Debt and (ii) to the extent included in the calculation of Total Asset Value, goodwill and other intangible assets (other than deferred leasing intangibles).

  • Minimum Net Worth means, for any Fiscal Quarter, the minimum Consolidated Net Worth required to be maintained by the Parent as of the end of such Fiscal Quarter pursuant to Section 6.12.

  • Consolidated Adjusted Net Worth means, as of any date of determination thereof, the Consolidated Net Worth less the total amount of all Restricted Investments in excess of 20% of Consolidated Net Worth, each as of such date of determination.

  • Consolidated Tangible Net Assets means, on any date of determination and with respect to any Person at any time, the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the consolidated balance sheet of such Person and its Consolidated Subsidiaries most recently delivered to the Lenders pursuant to Section 5.01(i) as of such date of determination, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the consolidated current liabilities of such Person and its Consolidated Subsidiaries appearing on such balance sheet.

  • Adjusted Consolidated Net Worth means, at any date, without duplication, the sum of (a) the consolidated shareholders’ equity, determined in accordance with GAAP, of the Guarantor and its Consolidated Subsidiaries, plus (b) the aggregate Hybrid Instrument Amount plus (c) the VA Adjustment Amount; provided that, in determining such Adjusted Consolidated Net Worth, there shall be excluded (i) any “Accumulated Other Comprehensive Income (Loss)” shown on the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries prepared in accordance with GAAP, (ii) the effect of any election under the fair value option in FASB ASC 825 permitting a Person to measure its financial assets or liabilities at the fair value thereof, and the related tax impact and (iii) all noncontrolling interests (as determined in accordance with Statement of Financial Accounting Standards No. 160, entitled “Noncontrolling Interests in Consolidated Financial Statements”) shown on the consolidated balance sheet of the Guarantor and its Consolidated Subsidiaries.

  • Modified adjusted gross income means “federal adjusted gross income”:

  • Adjusted Quick Ratio is the ratio of (a) Quick Assets to (b) Current Liabilities minus the current portion of Deferred Revenue.

  • Target Net Working Capital Amount means $5,000,000.

  • Adjusted Consolidated Net Tangible Assets means (without duplication), as of the date of determination, the remainder of:

  • Total Tangible Assets means, as of any date, (a) the aggregate amount of the assets (other than intangible assets, goodwill and deferred tax assets) of the Group, as disclosed on the consolidated statement of financial position in the most recent Accounts of the Group, minus (b) the lesser of (i) the aggregate value of all Project Assets subject to any Lien securing any Limited Recourse Indebtedness and (ii) the aggregate principal amount of Limited Recourse Indebtedness, in each case, as reflected in (or derived from) the most recent Accounts of the Group, plus (c) the net cash proceeds received by the Parent Guarantor from any share capital issuance by the Parent Guarantor consummated after the date of the most recent balance sheet included in such Accounts and on or prior to such date.

  • Adjusted Net Operating Income means, with respect to a Property for any given period, Net Operating Income of such Property for such period minus Capital Reserves for such period.

  • Adjusted Gross Sales means for either party distributing and selling Product (in this Section the “Selling Party”):

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Adjusted Net Earnings means net earnings (loss) attributable to common stockholders as reported in the Company’s periodic reports filed with the Securities and Exchange Commission, provided that such amount shall be adjusted by reversing the following, to the extent such adjustments were made in calculating such net earnings (loss) attributable to common stockholders:

  • Adjusted Asset Value means, as of a given date, the sum of EBITDA attributable to malls, power centers and all other assets for the trailing four (4) quarters most recently ended, divided by (iii) 7.75%. In determining Adjusted Asset Value:

  • Adjusted Net Book Value means, as of any date of determination, with respect to each Adjusted Program Vehicle as of such date, the product of 0.965 and the Net Book Value of such Adjusted Program Vehicle as of such date.

  • Consolidated Working Capital Adjustment means, for any period of determination on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Book Net Worth means the aggregate of the common and preferred stockholders' equity in the Borrower, determined in accordance with GAAP.

  • Total adjusted capital means the sum of: