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

• Any other Lien not covered in clause (a) as long as immediately after the creation of such Lien the aggregate principal amount of Secured Debt does not exceed 10% of Consolidated Tangible Net Assets.

• Any other Lien not covered in clause (i) as long as immediately after the creation of such Lien the aggregate principal amount of Secured Debt does not exceed 10% of Consolidated Tangible Net Assets.

• As soon as practicable thereafter (but in any event within 20 Business Days), Purchaser and Seller will instruct the Accounting Firm to render a determination of Final Closing Tangible Net Assets, such determination to be based solely upon the presentations by Purchaser and Seller.

• In making such determination, the Accounting Firm will act as an expert and not as an arbitrator in conducting its analysis, and may not assign a value to Final Closing Tangible Net Assets greater than the greatest value claimed by either party or less than the smallest value for Final Closing Tangible Net Assets claimed by either party.

• If Purchaser and Seller, notwithstanding these good faith efforts, fail to agree on a Final Statement and calculation of the Final Closing Tangible Net Assets, then as promptly as practicable (but in any event within 10 Business Days after expiration of such 30-day period), Purchaser and Seller jointly will engage the firm of Crowe Chizek and Company LLP or such other nationally recognized accounting firm mutually selected by Purchaser and Seller (the “Accounting Firm”) to resolve any dispute.

More Definitions of Tangible Net Assets

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

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, as of any date, the consolidated total assets of the Company and its Subsidiaries minus all intangible assets of the Company and its Subsidiaries, as each would be shown on a consolidated balance sheet of the Company and its Subsidiaries prepared in accordance with GAAP as of that date.

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 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).

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 means tangible assets less total liabilities.