Net Asset Amount definition

Net Asset Amount means the difference between (x) the gross assets of the Trust as of the date of termination less (y) the total liabilities of the Trust as of the date of termination (including any amounts necessary to satisfy obligations due to holders of preferred shares of the Trust as liabilities), as determined by an appraisal to be conducted by a nationally recognized appraisal firm mutually agreed upon by the Trust and the Advisor. If the Trust and the Advisor are unable to agree upon an appraisal firm, then each of the Trust and the Advisor is to choose an independent appraisal firm to conduct an appraisal. In such event, (i) if the appraisals prepared by the two appraisers so selected are the same or differ by an amount that does not exceed 20% of the higher of the two appraisals, the Net Asset Amount is to be deemed to be the average of the appraisals, as prepared by each party's chosen appraiser, and (ii) if these two appraisals differ by more than 20% of such higher amount, the two appraisers together are to select a third appraisal firm to conduct an appraisal. If the two appraisers are unable to agree on the identity of such third appraiser, either of the Advisor and the Trust may request that the American Arbitration Association ("AAA") select the third appraiser. The Net Asset Amount then is to be the amount determined by such third appraiser, but in no event less then the lower of the two initial appraisals or more than the higher of such two initial appraisals. Each party shall pay the costs of the appraisals chosen by it, and each party shall pay one half of the costs of the third appraiser. Any appraisal hereunder shall be performed no later than 45 days following selection of the appraiser or appraisers.

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Net Asset Amount shall have the meaning set forth in Section 1.5.

Net Asset Amount means the total assets included in the Acquired Assets minus the Assumed Liabilities of the Seller, determined in accordance with GAAP.

Examples of Net Asset Amount in a sentence

The determination of the Net Asset Amount shall be made in the manner provided for in Section 5.1 hereof.
The Purchase Price shall be decreased by the amount, if any, that the "Net Asset Amount" as stated in the July 31, 2003 Balance Sheet is less than $106,000.00 (the "Purchase Price Adjustment").
Sheet No. 1 for operations in the ordinary course of business or any other transaction permitted by this Agreement, and subject to the satisfaction of the Net Asset Amount No. 1 requirement set forth in Section 4.1(d) as of the Closing Date.
The Closing Adjusted Net Asset Statement shall be prepared in accordance with the definition of Adjusted Net Asset Amount and in a manner consistent with the Example Adjusted Net Asset Statement.
For purposes of this Section 2.3.2(b), the "Net Asset Amount" shall mean the difference between the book value of the assets and liabilities of the Business as such assets and liabilities are reflected in the Reference Balance Sheet or the Closing Date Balance Sheet, as applicable.

More Definitions of Net Asset Amount

Net Asset Amount of a Guarantor at any time shall mean the sum of its Stockholders' Equity at that time, plus the net amount (if greater than zero) of any obligations owed by such Guarantor to the Borrowers at that time (it being understood and agreed that, in the case of any Guarantor that is also a Borrower, such Guarantor shall not be considered to owe any obligation to itself in its capacity as such Borrower);

Net Asset Amount means the difference between the book value of the assets and liabilities of the Business as such assets and liabilities are reflected in the Reference Balance Sheet or the Closing Date Balance Sheet, as applicable.

Net Asset Amount shall be as defined in Section 2.3.2(b).

Net Asset Amount has the meaning set forth in Section 3.14 hereof.

Net Asset Amount means, as of the Closing Date:

Net Asset Amount means, as of any date, the result of (i) the sum of (A) the Cash, Cash Equivalents and assets of the type listed on Schedule 1.1(e) attached hereto of the Acquired Corporations and the Acquired Corporation Subsidiaries (other than First Capitol) and (B) the Cash, Cash Equivalents and assets of the type listed on Schedule 1.1(e) attached hereto of the Asset Sellers that are included within the Assets, minus (ii) the sum of (A) the Current Liabilities of the Acquired Corporations and the Acquired Corporation Subsidiaries (other than First Capitol) and (b) the Current Liabilities of the Asset Sellers included within the Assumed Obligations.

Net Asset Amount. Net Asset Amount" shall have the meaning set forth in -----------------