Principally Engaged definition

Principally Engaged means, as of any date, which respect to any particular business in which a Person may be engaged, that the value of the assets of such business on such date, calculated in accordance with GAAP, is at least 51% of the value on such date of all of the business assets of such Person on such date.

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Principally Engaged will mean engaged on a function or task for more than 50% of their total ordinary hours.

Principally Engaged means, as of any specified date, with respect to any business in which a Person may be engaged, that the value of the assets of such business, calculated in accordance with GAAP, is at least 51% of the value of all of the business assets of the businesses in which the Person is engaged.

Examples of Principally Engaged in a sentence

• On the Initial Closing Date, it is not Principally Engaged in any businesses other than the acquisition, ownership, development, construction, leasing, financing or management of Multifamily Residential Properties, and the conduct of these businesses does not violate the Organizational Documents pursuant to which it is formed.

• It shall not be Principally Engaged in any businesses other than the acquisition, ownership, development, construction, leasing, financing or management, directly or through Affiliates, of Multifamily Residential Properties, and the conduct of these businesses shall not violate the Organizational Documents pursuant to which it is formed.

• On the date hereof, it is ----------------- not Principally Engaged in any businesses other than the acquisition, ownership, development, construction, leasing, financing or management of Multifamily Residential Properties, and the conduct of these businesses does not violate the Organizational Documents pursuant to which it is formed.

• It shall not be ----------------- Principally Engaged in any businesses other than the acquisition, ownership, development, construction, leasing, financing or management, directly or through Affiliates, of Multifamily Residential Properties, and the conduct of these businesses shall not violate the Organizational Documents pursuant to which it is formed.

More Definitions of Principally Engaged

Principally Engaged means at least 51% of the purchaser’s business must involve manufacturing or smelting operations.

Principally Engaged means that premiums from the business reinsured by Buyer under the Reinsurance Agreements in the United States account for at least twenty-five percent (25%) of aggregate annual revenue of the subject business.

Principally Engaged means, for purposes of this subsection, that premiums from the North American life reinsurance business account for at least thirty-five percent (35%) of aggregate annual revenue of the subject business.

Principally Engaged means any Person (i) that derives at least 75% of its total income from the Restricted Business in the Restricted Territory or (ii) whose total assets employed in the Restricted Business in the Restricted Territory are 25% or more of such Person’s total consolidated assets.