Minimum Net Assets definition

Minimum Net Assets. The sum of (x) 50% of Closing Date Net Assets, plus (y) 25% of net proceeds from each common stock equity issuance of the Borrower subsequent to the date of calculation of Closing Date Net Assets.
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Minimum Net Assets. The sum of (x) 50% of Second Amendment Effective Date Net Assets plus (y) 25% of net proceeds from each common stock equity issuance of the Borrower subsequent to the date of calculation of Second Amendment Effective Date Net Assets.”
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Minimum Net Assets the sum of (x) the lesser of (i) One Hundred and Twenty-Eight Million Dollars and (ii) 65% of the First Amendment Effective Date Net Assets, plus (y) 25% of net proceeds from each common stock equity issuance of the Borrower subsequent to the date of calculation of the First Amendment Effective Date Net Assets.
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Examples of Minimum Net Assets in a sentence

  • The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a statement of said Net Assets and Minimum Net Assets (calculated within 10 Days of the Borrowing Date).

  • The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Business Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Lender with a statement of said Net Assets and Minimum Net Assets (calculated within 10 Business Days of the Borrowing Date).

  • The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a calculation demonstrating that said Net Assets are greater than or equal to Minimum Net Assets (calculated within 10 Days of the Borrowing Date).

  • Within thirty (30) days after delivery of the accountant's report to Purchaser, the undisputed amount, if any, by which the Actual Net Assets are greater than the Minimum Net Assets shall be paid to United by Purchaser, and the undisputed amount, if any, by which the Actual Net Assets are less than the Minimum Net Assets shall be paid to Purchaser by Sellers.

  • Minimum Net Assets as demonstrated by the calculations set forth on Schedule A $ 125,000,000 $ ____________ Yes No Minimum Bank Asset Coverage as demonstrated by the calculations set forth on Schedule A 225 % $ ____________ Yes No Minimum Asset Coverage as demonstrated by the calculations set forth on Schedule A 150 % Yes No BANK USE ONLY Comments Regarding Exceptions: See Attached.

  • Eureka covenants and agrees that it will maintain no less than $3,000,000 in Net Assets (the “Minimum Net Assets Threshold”) for the four year period following the Closing Date, provided, that the Minimum Net Assets Threshold shall be reduced by $750,000 on each anniversary of the Closing Date, less in each case, the amount of any outstanding and unresolved claims for indemnification made by Buyer against Eureka pursuant to Article IX.

  • The Net Assets of the Borrower immediately after giving effect to the transactions contemplated hereby to occur on or prior to the Effective Date shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a statement of said Net Assets and Minimum Net Assets, as of the Effective Date.

  • The Adjustment Amount, if any, shall be paid by Owners to Buyer pursuant to the terms of this Section 2.9. In the event the Actual Net Assets are greater than the Minimum Net Assets or the Actual Working Capital is greater than the Minimum Working Capital, neither the Company nor the Owners be entitled to the payment of an Adjustment Amount by the Buyer and the absolute value assigned to such difference for purposes of the calculation of the Adjustment Amount described above shall be zero.

  • Minimum Net Assets as demonstrated by the calculations set forth on Schedule A $65,000,000 $ Yes No Minimum Bank Asset Coverage as demonstrated by the calculations set forth on Schedule A 300% $ Yes No Minimum Asset Coverage as demonstrated by the calculations set forth on Schedule A 150% Yes No BANK USE ONLY Comments Regarding Exceptions: See Attached.

  • Minimum Net Assets as demonstrated by the calculations set forth on Schedule A $125,000,000 $ Yes No Minimum Bank Asset Coverage as demonstrated by the calculations set forth on Schedule A 225% $ Yes No Minimum Asset Coverage as demonstrated by the calculations set forth on Schedule A 150% Yes No BANK USE ONLY Comments Regarding Exceptions: See Attached.


More Definitions of Minimum Net Assets

Minimum Net Assets means (i) ($1,672,000) if the Closing Date is June 30, 2000 or prior, or (ii) ($1,789,000) if the Closing Date is after June 30, 2000 calculated in accordance with the spreadsheet formula mutually agreed at signing.
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Minimum Net Assets means Net Assets with a value of Four Million Five Hundred Nineteen Thousand Six Hundred Ninety-four Dollars ($4,519,694.00).
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Related to Minimum Net Assets

  • PJM Net Assets means the total assets per PJM’s consolidated quarterly or year-end financial statements most recently issued as of the date of the receipt of written notice of a claim less amounts for which PJM is acting as a temporary custodian on behalf of its Members, transmission developers/Designated Entities, and generation developers, including, but not limited to, cash deposits related to credit requirement compliance, study and/or interconnection receivables, member prepayments, invoiced amounts collected from Net Buyers but have not yet been paid to Net Sellers, and excess congestion (as described in Operating Agreement, Schedule 1, section 5.2.6, and the parallel provisions of Tariff, Attachment K-Appendix, section 5.2.6).

  • Net Assets sale," "sell" and "security" shall have the same meanings as such terms have in the 1940 Act, subject to such exemption as may be granted by the SEC by any rule, regulation or order. Where the effect of a requirement of the federal securities laws reflected in any provision of this Agreement is made less restrictive by a rule, regulation or order of the SEC, whether of special or general application, such provision shall be deemed to incorporate the effect of such rule, regulation or order. This Agreement may be signed in counterpart.

  • 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.

  • Net Asset Value or "NAV” means per Unit value of the Trust arrived at by dividing the Net Assets by the number of Units outstanding.

  • Average Net Assets means the average of all of the determinations of the Fund’s net asset value at the close of business on each business day during each month while this Contract is in effect. The fee is payable for each month within 15 days after the close of the month. The fees payable by the Fund to the Manager pursuant to this Section 3 will be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments. In the event that expenses of the Fund for any fiscal year exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are qualified for offer or sale, the compensation due the Manager for such fiscal year will be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager will be reduced, and if necessary, the Manager will assume expenses of the Fund, to the extent required by the terms and conditions of such expense limitation. If the Manager serves for less than the whole of a month, the foregoing compensation will be prorated.