Tangible Effective Net Worth definition

Tangible Effective Net Worth means, with respect to any Person and as of any applicable date of determination, Tangible Net Worth plus Subordinated Debt.

Tangible Effective Net Worth as used in this Agreement means net worth as determined in accordance with GAAP consistently applied, increased by Subordinated Debt, if any, and decreased by the following: patents, licenses, goodwill, subscription lists, organization expenses, trade receivables converted to notes, money due from affiliates (including officers, directors, subsidiaries and commonly held companies).

Tangible Effective Net Worth means as of any date of determination, Tangible Net Worth as of such date, plus the outstanding principal amount of the Subordinated Debt as of such date.

Examples of Tangible Effective Net Worth in a sentence

• On the Computation Date, Tangible Effective Net Worth, which is required to be not less than $ , was $ , as computed in the supporting documents attached hereto as Schedule 1.

• Tangible Effective Net Worth shall mean, with respect to any Person and as of any applicable date of determination, Tangible Net Worth plus Subordinated Debt.

• On the Computation Date, the Tangible Effective Net Worth, which is required to be not less than $ , was $ as computed in the supporting documents attached hereto as Schedule 1.

• Borrower shall not permit the ratio of Debt to Tangible Effective Net Worth to be greater than 3.50:1.00.

• Nothing in this section shall be construed to transfer to a person entitled to a copyright di- vested hereunder the right of the Attorney Gen- eral to sue for the infringement of such copy- right during the period between (1) the vesting thereof or the vesting of rights and interests in a contract entered into with respect thereto, and (2) the day of divestment.

More Definitions of Tangible Effective Net Worth

Tangible Effective Net Worth means net worth as determined in accordance with GAAP consistently applied, decreased by the following: patents, licenses, goodwill, subscription lists, organization expenses, trade receivables converted to notes, and money due from affiliates (including officers, directors, subsidiaries and commonly held companies).

Tangible Effective Net Worth means, as of any date of determination, (i) the net book value of the assets of Company at such date (excluding all amounts owing to Company by officers, directors, shareholders and other Affiliates (other than Included Affiliate Trade Receivables, which shall be included for purposes of calculating such book value) and all patents, patent rights, trademarks, trade names, franchises, copyrights, licenses, goodwill and all other intangible assets of Company at such date, after all appropriate deductions in accordance with GAAP (including, without limitation, reserves for doubtful receivables, obsolescence, depreciation and amortization), minus (ii) the sum of the total Debt as of such date minus all Subordinated Debt as of such date minus the amount of Company’s obligation under its guaranty of payment of the Intcomex Notes permitted under Section 7.3, all as determined in accordance with GAAP.

Tangible Effective Net Worth set forth in Section 1 of the Agreement is amended to read as follows:

Tangible Effective Net Worth means, as of any date of determination, the aggregate net book value of the assets of Borrowers as of such date (excluding all amounts owing to Borrowers, or either of them, by officers, directors, shareholders and other affiliates and all patents, patent rights, trademarks, trade names, franchises, copyrights, licenses, goodwill and all other intangible assets of Borrowers), after all appropriate deductions in accordance with GAAP (including, without limitation, reserves for doubtful receivables, obsolescence, depreciation and amortization), plus the aggregate amount of Subordinated Debt of Borrowers, all as determined on a consolidated basis for the Borrowers and in accordance with GAAP.

Tangible Effective Net Worth means, with respect to any person and as of any applicable date of determination, Tangible Net Worth plus Subordinated Debt.

Tangible Effective Net Worth means Tangible Net Worth plus ---------------------------- Subordinated Debt.

Tangible Effective Net Worth means, as of any date of determination for Guarantor and its consolidated Subsidiaries in accordance with GAAP, the amount determined as (i) the net book value of all assets (other than Intangible Assets) after all appropriate deductions which are either required or reflected by Guarantor in its consolidated balance sheet (including, without limitation, reserves for doubtful receivables, returns, obsolescence, depreciation and amortization), MINUS (ii) Consolidated Total Debt, PLUS (iii) Subordinated Debt.