Target Net Worth definition

Target Net Worth. As of the end of any fiscal quarter, the lesser of (1) $20,000,000 or (ii) the applicable Base Net Worth plus 75% of all cumulative after tax net income earned by the Master Servicer from the later of ______ ___, 19___ or the date such Base Net Worth was established, through the end of such quarter.

Target Net Worth is equal to the sum of (i) $489,861,833, which is based on the unaudited financials for the Schlumberger Equity Interests, excluding (except as set forth in Schedule 1.3(i) and Schedule 1.3(j)) the --------------- --------------- Excluded Assets and the Excluded Liabilities, as of May 31, 2001 and (ii) any gain in excess of $100,000 realized after May 31, 2001 by the POC Entities in connection with the termination or cancellation of any customer contracts.

Target Net Worth means $12,007,593 (i.e., the excess of the consolidated assets set forth on the March 31, 2002 Balance Sheet over the consolidated liabilities (excluding for purposes of this calculation the Indebtedness of the Company and its Subsidiaries) set forth on the March 31, 2002 Balance Sheet), as such $12,007,593 amount may be increased from time to time pursuant to, and in accordance with, the procedures set forth in Section 6.08.

Examples of Target Net Worth in a sentence

• Alternatively, if Buyer delivers to Sellers the Objection Notice referred to in Section 2.2(c), within two (2) business days after such delivery, (y) Sellers shall pay to Buyer the amount, if any, by which the undisputed portion of the Final Net Worth is less than the Target Net Worth, or (z) Buyer shall pay to Sellers the amount, if any, by which the undisputed portion of the Final Net Worth is greater than the Target Net Worth.

• If upon reconciliation, the Target Net Worth has been exceeded, Purchaser shall promptly (within fifteen (15) days) deposit into escrowan amount equal to the amount of the excess.

• Notwithstanding GAAP or the Company's accounting policies, there shall be no increases or decreases to goodwill and other intangible assets from those used in preparation of the March 31, 2002 Balance Sheet and included in the Target Net Worth.

• If Final Net Worth exceeds Target Net Worth in an amount in excess of $2.0 million (such amount in excess of $2.0 million shall be referred to as the "Excess Amount"), Buyer shall pay to US Seller, who shall receive funds on behalf of Sellers, in the manner and with interest as provided in Section 2.04(b), the Excess Amount, if any.

• If the relevant Estimated Net Worth with respect to the POC Companies, the Harwat Interest or the WilPro Interest is greater than the relevant Target Net Worth, then Purchaser shall remit to the applicable Seller on the Closing Date an amount equal to such difference.

More Definitions of Target Net Worth

Target Net Worth means $22,961,000.

Target Net Worth means U.S.$641,278,000, which represents the adjusted net book value of the Business as of December 31, 1997 of $576,278,000 as shown on Exhibit F, plus U.S. $65 million.

Target Net Worth means, on any date of determination, the sum of (i) $106,000,000 plus (ii) an amount determined on a cumulative basis equal to the sum of 50% of any positive consolidated net income of Alon USA and its Consolidated Subsidiaries for each Fiscal Year ending after December 31, 2004.

Target Net Worth shall be defined as set forth in Section 4.3.

Target Net Worth means the greater of (i) $235,125,000 or (ii) the combined assets of the Transferred Companies, less the combined liabilities of the Transferred Companies, as set forth on the Target Balance Sheet. "Target Balance Sheet" means the combined balance sheet of the Transferred Companies as of March 30, 2002 prepared in accordance with GAAP as described and supplemented by the Accounting Principles applied on a basis consistent with the Preliminary Balance Sheet (with the exception of the notes and interest payable to affiliates line item) and shall fairly present the combined financial position of the Transferred Companies as of the close of business on March 30, 2002; provided, that the Target Balance Sheet shall include (i) a reserve for self-insured retentions for general liability, automobile and worker's compensation insurance in an amount equal to $3.6 million (which amount shall be identical to the amount set forth on the Closing Balance Sheet), (ii) goodwill (net) in an amount equal to $45.2 million (which amount shall be identical to the amount set forth on the Closing Balance Sheet), (iii) assets and liabilities relating to pension plans in amounts equal to $0.6 and $12.5 million, respectively (which amounts shall be identical to the amounts set forth on the Closing Balance Sheet) and (iv) net assets and liabilities relating to deferred income taxes equal to $0.0 (which amount shall be identical to the amount set forth on the Closing Balance Sheet). The parties acknowledge that the calculation of Pension Plan Liability for purposes of Section 8.01(d) shall be determined solely in accordance with that Section and the definition of Pension Plan Liability. "Final Net Worth" means the Closing Net Worth (i) as shown in Buyer's calculation delivered pursuant to Section 2.03(a), if no Objection Notice is duly delivered pursuant to Section 2.03(b); or (ii) if such Objection Notice is delivered,

Target Net Worth means Two Hundred Twenty Million Twenty Five Thousand ---------------- Dollars ($220,025,000) plus the amount, if any, by which Final Future Tax Benefits exceeds Preliminary Future Tax Benefits, but in any event not less than $220,025,000.

Target Net Worth means $750,150,000. 3. 2.3(a) of the Acquisition Agreement shall be deleted and replaced with the following: Payment of Purchase Price