Tangible Net Assets definition

Tangible Net Assets means (a) the consolidated net book value of all assets of the Borrower and its consolidated Restricted Subsidiaries minus (b) the consolidated net book value of all intangible assets of the Borrower and its consolidated Restricted Subsidiaries.

Tangible Net Assets means (a) the consolidated net book value of all assets of the Borrower and its consolidated Subsidiaries minus (b) the consolidated net book value of all intangible assets of the Borrower and its consolidated Subsidiaries.

Tangible Net Assets means the net assets of an investment adviser registered or required to be registered reduced by the following: (7-1-93)

Examples of Tangible Net Assets in a sentence

• Tangible Net Assets is calculated by taking Total Assets for GAAP purposes, and subtracting (i) intangible assets and goodwill, (ii) cash and short term investments, (iii) future income tax assets, (iv) all customer, trade and government liabilities that do not bear a coupon, excluding future income tax liabilities and acquisition holdbacks.

• Conexant will provide Alpha with reasonable access to the relevant work papers used to prepare the Special Purpose Statement of Tangible Net Assets and will consider in good faith any comments of Alpha thereon delivered to Conexant within 10 days after receipt of the Special Purpose Statement of Tangible Net Assets.

• Within 20 days after Deloitte & Touche LLP has delivered its report on the Audited Balance Sheet, Conexant will prepare and deliver to Alpha the Special Purpose Statement of Tangible Net Assets.

• The Borrower will not permit the Dollar Equivalent amount of the Buy-Back Obligations at any time to exceed an amount equal to 12.5% of Consolidated Tangible Net Assets, determined as of the most recent fiscal quarter end of the Borrower.

• Seller will provide to Purchaser within 30 days after Purchaser’s delivery of the Final Statement a notice to Purchaser disagreeing with any such calculation and setting forth Seller’s calculation of the Final Closing Tangible Net Assets (the “Seller’s Objection”), which shall describe in reasonable detail the specific nature and amount of each disagreement and shall state in reasonable detail all bases upon which Seller believes the Final Statement is not in conformity with Section 1.04.

More Definitions of Tangible Net Assets

Tangible Net Assets means net assets less intangibles in accoradance with GAAP.

Tangible Net Assets means, as of any date, the consolidated total ------------------- assets of a Person and its Subsidiaries minus all intangible assets of such Person and its Subsidiaries, as each would be shown on a consolidated balance sheet of such Person and its Subsidiaries prepared in accordance with GAAP as of that date.

Tangible Net Assets means, at any time the same is to be determined, the total assets that would appear at such time on the balance sheet of the Borrower and its Subsidiaries determined on a consolidated basis in accordance with GAAP, less the aggregate book value of all assets at such time that would be classified as intangible assets under GAAP, including goodwill, patents, trademarks, trade names, copyrights, franchises, and deferred charges (including unamortized debt discounts and expenses, organization costs, and deferred research and development expenses).

Tangible Net Assets means (i) the sum of “Cash,” “Cash – Restricted,” “Mortgage Loans Held for Sale, Net of Loss Reserves,” “Beneficial Interest in Trust,” “Residuals – Available for Sale,” “Residuals – Held for Trade,” “Mortgage Servicing Rights,” “Property, Plant and Equipment,” “Servicing and Related Assets”, “Mortgage Loans Held for Investment,” “Other Real Estate Owned,” “Pipeline Mortgage Loans,” and “Other Assets,” less (ii) the sum of “Repurchase Liability,” “Borrowings and Due to Warehouse,” and “Other Liabilities.” Each of the capitalized terms in clauses (i) and (ii) of the preceding sentence have meanings consistent with the meanings given to such terms in the Target Tangible Net Assets Statement. Notwithstanding anything to the contrary herein, the calculation of Tangible Net Assets will not include any Intercompany Indebtedness, Deferred Tax Asset, Deferred Tax Liability or any liabilities or assets related to Taxes or other matters which Seller has agreed to pay or provide indemnity hereunder.

Tangible Net Assets means, on a consolidated basis, (A) the consolidated assets of the Borrower determined in accordance with GAAP, reduced by the sum of (1) the net book value of all assets that would be classified as intangible under GAAP (including but not limited to, goodwill, organizational expenses, trademarks, trade names, copyrights, patents, licenses, any rights in any thereof, unamortized debt discount and expenses and other unamortized deferred charges and other intangible items), and (2) any minority interests in consolidated subsidiaries held by a Person other than the Borrower or a Guarantor minus (B) consolidated current liabilities of the Borrower determined in accordance with GAAP.

Tangible Net Assets has the meaning given to that term in Clause 21.1 (Financial definitions). Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same).

Tangible Net Assets of any Person, as at any date of determination, means (without duplication) such Person's cash, net Accounts, inventory, equipment, fixtures, real property and the refundable portion of any prepaid expense which, in accordance with generally accepted accounting principles, are treated as tangible assets of such Person, in each case (to the extent applicable), less the sum of (i) Current Liabilities, (ii) cash held in a sinking or other analogous fund established for the purpose of redemption, retirement or prepayment of Securities or Debt, and (iii) any write-up in the book value of such asset resulting from a revaluation (but not a valuation of an asset in connection with an acquisition subject to purchase accounting treatment under generally accepted accounting principles; provided that such valuation is accomplished in accordance with such principles).