Related Party Receivables definition
Examples of Related Party Receivables in a sentence
As used herein “Debt to Tangible Net Worth Ratio” shall be defined as the consolidated: (1) (A) Total Liabilities of each Borrower, minus (B) Subordinated Debt, divided by (2) (A) Net Worth, plus (B) Subordinated Debt, plus (C) Intangibles, minus (D) Related Party Receivables.
All Related Party Receivables (including those receivables reflected on the Most Recent Balance Sheet that have not yet been collected and those receivables that have arisen since June 30, 2007 and have not yet been collected): (i) represent valid obligations arising from bona fide transactions entered into in the ordinary course of business; and (ii) are current and will be collected in full when due, without any counterclaim or set off.
As used herein "Debt to Tangible Net Worth Ratio" shall be defined as (1) (A) Total Liabilities of Borrower, minus (B) Subordinated Debt, divided by (2) (A) Net Worth, plus (B) Subordinated Debt, minus (C) Intangibles, minus (D) Related Party Receivables.
As used herein "Consolidated Debt to Tangible Net Worth Ratio" shall be defined as (1) (A) Total Liabilities, minus (B) Subordinated Debt, divided by (2) (A) Net Worth, plus (B) Subordinated Debt, minus (C) Intangibles, minus (D) Related Party Receivables (in each case, measured based upon the financial results of Borrower and Guarantor).
Tangible Net Worth shall mean: shareholders’ equity minus intangible assets (as categorized on the Debtor’s balance sheet (for the avoidance doubt, “intangible assets” do not include merchant contracts)) and Related Party Receivables.