Total Unsubordinated Liabilities means, as to any Person, the excess of (i) such Person's Total Liabilities over (ii) such Person's Subordinated Debt.
Total Unsubordinated Liabilities means, with respect to Chock and its subsidiaries, the total of all items which would properly be included as liabilities on a balance sheet, determined in accordance with generally accepted accounting principles consistently applied, excluding Subordinated Indebtedness, capital stock, additional paid in capital, capital surplus, retained earnings, minority interests, contingency reserves and deferred income taxes.
Total Unsubordinated Liabilities means, as of any date of determination thereof, the sum of (a) all liabilities that should be reflected as a liability in a consolidated balance sheet of Borrowers and its Subsidiaries on such date prepared in accordance with generally accepted accounting principles, consistently applied, minus (b) subordinated debt as to which a subordination agreement acceptable to Agent has been executed and all deferred membership revenues, plus (c) the aggregate face amount of all outstanding Standby Letters of Credit and other letters of credit issued at the request of Borrowers; provided, however, that any amount described in clause (c) shall be added only to the extent that the Standby Letter of Credit or other letter of credit covers liabilities that would not be reflected in a consolidated balance sheet of Borrowers and its Subsidiaries on such date.
Examples of Total Unsubordinated Liabilities in a sentence
Total Unsubordinated Liabilities -- means, with respect to the Company and determined on a consolidated basis, the aggregate outstanding balance of all liabilities as shown on the Company’s balance sheet minus the aggregate outstanding balance of all Subordinated Debt and minus the aggregate outstanding balance of all Investment Note Debt.
The Co-Borrowers shall maintain, on a consolidated basis, a ratio of (i) Total Unsubordinated Liabilities to (ii) Capital Base of not more than 1.70:1.00.
The Borrower will maintain at all times a ratio of Total Unsubordinated Liabilities to Capital Base of not greater than 0.75 to 1.0, to be tested quarterly as of the last day of each fiscal quarter.
Permit the ratio of Total Unsubordinated Liabilities to Tangible Net Worth, as of the last day of any fiscal quarter of Borrowers and their Subsidiaries to be greater than 1.25:1.00.
Consolidated Total Unsubordinated Liabilities to Consolidated Tangible Net Worth plus Consolidated Subordinated Debt.
More Definitions of Total Unsubordinated Liabilities
Total Unsubordinated Liabilities appearing in Article 1 of the Credit Agreement are each hereby amended by adding the parenthetical "(other than US-SEARCH)" after the word "Subsidiaries" appearing each time therein.
Total Unsubordinated Liabilities means all Debt of the Co-Borrowers and the Corporate Guarantor, on a consolidated basis, that is not Subordinated Debt excluding all Debt which is contingent indebtedness..
Total Unsubordinated Liabilities means, as of any date of determination thereof, the sum of (a) all liabilities that should be reflected as a liability in a consolidated balance sheet of Borrowers and its Subsidiaries on such date prepared in accordance with generally accepted accounting principles, consistently applied, minus (b) subordinated debt as to which a subordination agreement acceptable to Agent has been executed, plus (c) the aggregate face amount of all outstanding Standby Letters of Credit and other letters of credit issued at the request of Borrowers; provided, however, that any amount described in clause (c) shall be added only to the extent that the Standby Letter of Credit or other letter of credit covers liabilities that would not be reflected in a consolidated balance sheet of Borrowers and its Subsidiaries on such date.
Total Unsubordinated Liabilities means, with respect to -------------------------------- any person, the total of all items which would properly be included as liabilities on a Consolidated balance sheet, determined in accordance with generally accepted accounting principles consistently applied, excluding Subordinated Indebtedness, capital stock, additional paid in capital, capital surplus, retained earnings, minority interests and contingency reserves.
Total Unsubordinated Liabilities means Total Liabilities less Subordinated Debt.
Total Unsubordinated Liabilities means total liabilities less any debt subordinated to the Mortgagee. “Tangible Net Worth” means total assets less the sum of (1) total liabilities net of any debt subordinated to the Mortgagee, (2) net intangible assets and (3) all amounts due from shareholders/officers/ employees/affiliates.
Total Unsubordinated Liabilities means total liabilities less any debt subordinated to Lender, and “Tangible Net Worth” means total assets less the sum of (1) total liabilities net of any debt subordinated to Lender, (2) net intangible assets, and (3) all amounts due from shareholders, officers, employees, and affiliates. This leverage ratio should be maintained at all times and may be evaluated at any time. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.