Tangible Net Worth Requirement means, (a) with respect to any date on or after the date hereof, but on or prior to December 31, 1998, negative $1,300,000, (b) with respect to any date on or after January 1, 1999, but on or prior to September 30, 1999, negative $1,900,000, (c) with respect to any date on or after October 1, 1999 but on or prior to March 31, 2000, negative $2,300,000, and (d) for any date on or after April 1, 2000, the Tangible Net Worth Requirement as of the last day of the preceding calendar month plus $20,000.
Tangible Net Worth Requirement means (a) with respect to YMC and QMS combined, negative $300,000 until June 30, 1999 and for each calendar month thereafter means the Tangible Net Worth Requirement of YMC and QMS combined as of the last day of the preceding calendar month plus $8,333, and (b) with respect to CEM, means $2,500,000 until December 30, 1998 and for each calendar month thereafter means the Tangible Net Worth Requirement of CEM as of the last day of the preceding calendar month plus $50,000 per month until June 30, 1999 and thereafter $150,000 per month.
Tangible Net Worth Requirement means, as of any date of determination, a Tangible Net Worth of at least the sum of (a) $175,000,000 and (b) the product of 2/3 (67%) the proceeds from any issuance of equity; provided, however, that such Tangible Net Worth Requirement may be amended by BANA from time to time, in a written notice to Client. “Total Liabilities” shall mean, as of any date of determination, the sum of (a) the total liabilities of Client on any given date of determination, to be determined in accordance with GAAP consistent with those applied in the preparation of Client’s financial statements, plus (b) to the extent not already included under GAAP, the total aggregate outstanding amount owed by Client under any repurchase, refinance or other similar credit arrangements, plus (c) to the extent not already included under GAAP, any “off balance sheet” repurchase, refinance or other similar credit arrangements, less (d) the amount of any nonspecific consolidated balance sheet reserves maintained in accordance with GAAP and less (e) the amount of any nonrecourse debt, including any securitization debt. “Total Liabilities and Warehouse Credit” means, as of any date of determination, a maximum ratio of Total Liabilities and Warehouse Credit to Tangible Net Worth of 9:1; provided, however, that such Total Liabilities and Warehouse Credit to Tangible Net Worth Requirement may be amended by BANA from time to time, in a written notice to the Client, to be the same as the corresponding financial covenant as included in a master repurchase agreement entered into by BANA and Client after the date hereof. “Term” has the meaning set forth in Section 1.02. “Transfer Instructions” means the reasonable transfer instructions mutually agreed to by BANA and Client or its subservicer detailing the procedures pursuant to which BANA shall effectuate the actual servicing transfer from BANA to Client or its designee. “Transition Services Team” has the meaning set forth in Section 8.01. “Unscheduled Payment” means a payment to a Mortgagor under the terms of the related Mortgage Documents other than a Scheduled Payment.
Examples of Tangible Net Worth Requirement in a sentence
Minimum Tangible Net Worth Requirement Is Too Low Comment: The minimum tangible net worth requirement is inadequate forfirms with multiple facilities.Response: The concern that the net worth minimum is inadequate for firms with multiple facilities overlooks theinterrelationships between the net worth requirement and the othercomponents of the test.
The Tangible Net Worth Requirement Is AppropriateIn addition to comments objecting to the proposed tangible net worthrequirement, EPA also received comments supporting it.
Properties Held in Common by Parallel and Serial Systems SP1 The physical properties of the objects can influence processing.SP2 The order in which previously completed processes finished can influence the processing of unfinished objects.SP3 The processing times can influence system completion times.SP4 The order in which the processes finish can influence system completion times.
More Definitions of Tangible Net Worth Requirement
Tangible Net Worth Requirement means the respective Tangible Net Worth Requirement set
Tangible Net Worth Requirement shall be defined in the Trust and Security Agreement as: The requirement that with respect to the Reported Company:
Tangible Net Worth Requirement means the requirement as to Tangible Net Worth, for Borrower as set forth in Section 6.2(j)(I)(i) of this Agreement, and for Guarantor as set forth in Section 6.2(j)(II)(i) of this Agreement.
Tangible Net Worth Requirement means the requirement that with respect to Servicer:
Tangible Net Worth Requirement means (a) during the period from the Closing Date through December 30, 2020, -$1,325,000, (b) during the period from December 31, 2020 through December 30, 2021, the 2021 TNW Amount, and (c) during the period beginning on December 31, 2021 and thereafter, the 2021 TNW Amount; provided, however, the Tangible Net Worth Requirement shall be increased (but not decreased) on each Determination Date by an amount equal to 50% of positive Net Income for the fiscal year immediately preceding such Determination Date, provided that the increase to the Tangible Net Worth Requirement determined on each Determination Date will be updated and adjusted as needed based on the audited financial statements required by Section 8.1(a) with respect to the fiscal year ending prior to such Determination Date.
Tangible Net Worth Requirement means negative $6,200,000 plus the net proceeds received by the Company from any such sale of its equity securities after the date hereof.
Tangible Net Worth Requirement means negative $150,000 until May 31, 1998, $50,000 from June 1, 1998 until December 31, 1998 and for each calendar year thereafter the Tangible Net Worth Requirement as of the last day of the preceding calendar year plus the greater of $100,000 and 100% of the Company's Net Profit for the previous calendar year.