Net Worth Deficit definition

Net Worth Deficit has the meaning set forth in Section 7.7 below.
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Net Worth Deficit. The amount (if any) by which the Net Worth is less than (pound)720,000 (seven hundred and twenty thousand pounds)
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Net Worth Deficit means, as of any date of determination, the amount, if any, by which the Net Worth of Seller is less than $13,000,000.
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Examples of Net Worth Deficit in a sentence

  • The Manager shall value the Portfolio from time to time as required by Section 2.06 of the Security Agreement in order to prepare the reports required thereunder, using the portfolio valuation methods set forth in the Market Valuation Addendum attached as Schedule 1.01 to the Security Agreement, in order to determine whether a Coverage Shortfall, a Program Shortfall or a Net Worth Deficit has occurred and is continuing and whether the Market Sensitivity Limit has been exceeded.

  • The amount of the Excess Tangible Net Worth, if any, shall be allocated to the Class A Shares and paid to 9117 and the amount of Escrowed Cash, if any after adjustment in the case of a Tangible Net Worth Deficit, shall be paid to the Sellers in the proportions indicated at column C of Schedule 2.2, and each of the ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ and 9117 expressly agree to such allocation.

  • The ------------------------------------------------------------- Closing Net Worth Deficit, if any, shall not exceed $5,000,000 and the Closing Working Capital Deficit, if any, shall not exceed $5,000,000.

  • As soon as reasonably practicable, but in no event later than five days prior to the Closing Date, Purchaser and Seller shall jointly prepare (a) an unaudited balance sheet of Seller, including, without limitation, accruals and prepaid items (the "Pre-Closing Balance Sheet"), dated as of the Pre-Closing Balance Sheet Date, prepared in accordance with CAP, and (b) a statement setting forth the Net Worth Deficit and the Working Capital Deficit, all determined as of the Pre-Closing Balance Sheet Date.

  • The purchase price for the Assets shall be the sum of (i) $19,000,000, less the greater of the Net Worth Deficit, if any, as of the Closing Balance Sheet Date, or the Working Capital Deficit, if any, as of the Closing Balance Sheet Date, plus (ii) the Growth Earnout Payment plus (iii) the Maintenance Earnout Payment, plus (iv) the assumption by Purchaser of the Assumed Liabilities (collectively, the "Purchase Price").

  • It shall be a condition to Closing that the parties to this Agreement agree upon the Pre-Closing Balance Sheet, the Net Worth Deficit and the Working Capital Deficit (each as of the Pre-Closing Balance Sheet Date).

  • Section 4.1 of the Credit Agreement is hereby amended to provide that for each fiscal quarter of the Borrower, commencing with the fiscal quarter ending September 30, 1997, the Borrower shall, as of the last day of each fiscal quarter, have a Minimum Consolidated Net Worth (Deficit) of no less than $(10,000,000).

  • The tangible net worth of ----------------------------------- Maker, on a consolidated basis, shall at any time be less than Specified Net Worth (Deficit) (as defined below).


More Definitions of Net Worth Deficit

Net Worth Deficit shall have the meaning set forth in Section 2.02(a)(i)(A); "Nevada Articles" shall have the meaning set forth in Section 1.03; "NRS" shall have the meaning set forth in Section 1.01; "144A Notes" shall have the meaning set forth in Section 2.01(b); "Options" shall have the meaning set forth in Section 2.03(a); "Option Transaction Value" shall have the meaning set forth in Section 2.03(b)(i); "Orders" shall have the meaning set forth in Section 4.01(d)(i); "Pension Plan" shall have the meaning set forth in Section 4.01(n)(i); "Permitted Liens" shall have the meaning set forth in Section 4.01(f); "Players" shall have the meaning set forth in Section 3.02(d); "Players Merger" shall have the meaning set forth in Section 3.02(a); "Players Merger Agreement" shall have the meaning set forth in Section 3.02(a); "Pre-Closing Balance Sheet" shall have the meaning set forth in Section 2.02(c)(i); "Pre-Closing Income Statement" shall have the meaning set forth in Section 2.02(c)(i); "PWC" shall have the meaning set forth in Section 2.02(d)(i)(A); "PWC Report" shall have the meaning set forth in Section 2.02(d)(i)(D); "Registration Statement" shall have the meaning set forth in Section 3.03(a); "Release Time" shall have the meaning set forth in Section 3.01; "Reorganization Agreement" shall have the meaning set forth in the second "Whereas" clause. "SEC" shall have the meaning set forth in Section 3.03(a); "Section 16 Affiliate" shall have the meaning set forth in Section 2.06; "Securities Act" shall have the meaning set forth in Section 2.04; "Share Merger Consideration" shall have the meaning set forth in Section 2.01(a); "Spinco" shall have the meaning set forth in the second "Whereas" clause; "Spinco Businesses" shall have the meaning set forth in the second "Whereas" clause; "Spinco Interests" shall have the meaning set forth in Section 1.02; "Spinoff" shall have the meaning set forth in the second "Whereas" clause; "Spinoff Tax Liability" shall have the meaning set forth in Section 2.02(d)(i); "Stockholders' Meetings" shall have the meaning set forth in Section 3.04(b); "Stock Plan" shall have the meaning set forth in Section 2.03(a); "Stub Period Diverted Asset Amount" shall have the meaning set forth in Section 2.02(c)(i)(A); "Surviving Corporation" shall have the meaning set forth in the Preamble; "Tax" or "Taxes" shall have the meaning set forth in Section 4.01(l); "Tax Attributes" shall have the meaning set forth in Section 2.02(d)(ii)(B); "Tax Authority" sh...
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