TANGIBLE NET. WORTH shall mean the excess of Affiliate's total consolidated assets over Affiliate's total consolidated liabilities, excluding, however, from the determination of total assets (a) all assets which should be classified as intangible assets (such as goodwill, patents, trademarks, copyrights, franchises, and deferred charges, including unamortized debt discount and research and development costs), (b) cash held in a sinking or other similar fund established for the purpose of redemption or other retirement of capital stock, (c) to the extent not already deducted from total assets, reserves for depreciation, depletion, obsolescence, or amortization of properties and other reserves or appropriations of retained earnings which have been or should be established in connection with Affiliate's business under GAAP, and (d) any revaluation or other write-up in book value of assets subsequent to the fiscal year of Affiliate last ended at the date Tangible Net Worth is being measured.
TANGIBLE NET worth" means net worth minus intangibles such as goodwill, patents or royalties.
TANGIBLE NET. WORTH shall mean, as of any date, (a) the total of all amounts which would, in accordance with GAAP, be included on a consolidated balance sheet of the Borrower and its Consolidated Subsidiaries as of such date as (i) the par or stated value of all outstanding Capital Stock of the Borrower, (ii) paid-in capital or capital surplus relating to such Capital Stock and (iii) any retained earnings or earned surplus, less (1) any accumulated deficit and (2) any amounts attributable to Disqualified Stock MINUS (b)
Examples of TANGIBLE NET in a sentence
Tangible net worth greater than $10 million, or at least 10 times the total current decommissioning cost estimate (or the current amount required if certification is used), whichever is greater, for all decommissioning activities for which the company is responsible as self-guaranteeing licensee and as parent-guarantor.
Tangible net worth means the tangible assets that remain after deducting liabilities; such assets do not include intangibles such as goodwill and rights to patents or royalties.
Tangible net assets are corrected for net goodwill in the assets and goodwill under the equity method.
Tangible net worth of at least ten million dollars ($10,000,000).
Tangible net worth of at least six (6) times the amount of liability coverage to be demonstrated by this test.
More Definitions of TANGIBLE NET
TANGIBLE NET. WORTH as used in this Agreement means, as of any applicable date of determination, the excess of:
TANGIBLE NET. WORTH shall mean, as of the date of determination, Landair Corporation's total consolidated net worth minus any goodwill or other intangibles as determined in accordance with generally accepted accounting principles.
TANGIBLE NET worth shall mean joint venturers' equity in Borrower plus subordinated debt less the aggregate of any intangible assets and any obligations due from joint venturers, employees and/or affiliates.
TANGIBLE NET. Worth shall mean, at any date of determination, and calculated separately for each of Parent to Pharmaceutical Formulations, Inc. and Konsyl Pharmaceuticals, Inc., an amount equal to the Net Worth of Pharmaceutical Formulations, Inc. or Konsyl Pharmaceuticals, Inc. plus Subordinated Debt owed by such entity. Taxes shall mean all federal, state, municipal and other governmental taxes, levies, charges, claims and assessments which are or may be due by the Company with respect to its business, operations, Collateral or otherwise.
TANGIBLE NET. Worth shall mean total assets (valued at lower of market value or cost less normal depreciation), less (a) all intangibles and (b) all liabilities (including contingent and indirect liabilities), all determined in accordance with GAAP. The term "intangibles" shall include, without limitation, (1) deferred charges, including without limitation, any deferred tax assets of Borrower; (2) the amount of any write-up in the book value of any assets contained in any balance sheet resulting from revaluation thereof or any write-up in excess of the cost of such assets acquired; and (3) the aggregate of all amounts appearing on the assets side of any such balance sheet for franchises, licenses, permits, patents, patent applications, copyrights, trademarks, trade names, goodwill, treasury stock, experimental or organizational expenses and other like intangibles. Tangible Net Worth shall be determined on a consolidated basis.
TANGIBLE NET. Worth shall mean, at any time:
TANGIBLE NET. WORTH shall mean, at any date of determination, an amount equal to (a) Total Assets minus (b) (i) Total Liabilities, and (ii) all goodwill, Patents, Trademarks, Copyrights, franchises, formulas, leasehold interests, leasehold improvements, non-compete agreements, engineering plans, deferred tax benefits, organization costs, prepaid items and any other assets of the Company that would be treated as intangible assets on the Company's balance sheet, and shall be determined in accordance with GAAP, on a consistent basis with the latest audited financial statements of the Company. TAXES shall mean all federal, state, municipal and other governmental taxes, levies, charges, claims and assessments which are or may be due by the Company with respect to its business, operations, Collateral or otherwise.