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 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).
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.
Borrower shall not permit Tangible Effective Net Worth to be less than the sum of Two Million Nine Hundred Thousand and 00/100 Dollars ($2,900,000.00).
Borrower shall not permit the ratio of Debt to Tangible Effective Net Worth to be greater than 3.50:1.00.
Borrower shall not permit Tangible Effective Net Worth to be less than the sum of Twelve Million and 00/100 Dollars ($12,000,000.00).
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.
More Definitions of Tangible Effective Net Worth
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 set forth in Section 1 of the Agreement is amended to read as follows:
Tangible Effective Net Worth means, with respect to any Person and as of any applicable date of determination, Tangible Wet Worth plus Subordinated Debt, plus (or minus) the negative (or positive) change in deferred tax assets of such Person.
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
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, all as determined in accordance with GAAP.”
Tangible Effective Net Worth means Tangible Net Worth plus ---------------------------- Subordinated Debt.
Tangible Effective Net Worth means, as of any date of determination thereof and with respect to any Person, the total assets of such Person as of such date determined in accordance with GAAP, consistently applied, minus Intangible Assets of such Person as of such date and minus Total Liabilities of such Person as of such date.