Unsubordinated Liabilities definition

Unsubordinated Liabilities means, with respect to any Person, all Indebtedness as defined in clause (i) of the definition of "Indebtedness" but excluding any Subordinated Debt.

Unsubordinated Liabilities means the unconsolidated gross liabilities of the Bank (other than liabilities to persons who are not, or are trustees for persons who are not, Unsubordinated Creditors) all

Unsubordinated Liabilities means the unconsolidated gross liabilities of the Bank (other than liabilities to persons who are not, or are trustees for persons who are not, Unsubordinated Creditors) all as shown by the latest published audited balance sheet of the Bank, but adjusted for contingent liabilities and for subsequent events, all in such manner as the board of directors of the Bank, the Auditors (as defined in the Trust Deed) or the liquidator of the Bank (as the case may be) may determine.

Examples of Unsubordinated Liabilities in a sentence

• For the purpose of this Condition 3(b), the Bank shall be solvent if (i) it is able to pay its debts as they fall due and (ii) its Assets exceed its Unsubordinated Liabilities.

• Maintain at all times during the Commitment Period a ratio of Consolidated Unsubordinated Liabilities to the sum of Consolidated Tangible Net Worth and Subordinated Indebtedness not in excess of 2.0 to 1.0.

• 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.

More Definitions of Unsubordinated Liabilities

Unsubordinated Liabilities means all amounts which would be treated as liabilities on a balance sheet prepared in accordance with generally accepted accounting principles, excluding, however, Subordinated Debt.

Unsubordinated Liabilities means the unconsolidated gross liabilities of the relevant Issuer (other than liabilities to persons who are not, or are trustees for persons who are not, Unsubordinated Creditors) all as shown by the latest published audited balance sheet of the relevant Issuer, but adjusted for contingent liabilities and for subsequent events, all in such manner as the board of directors of the relevant Issuer, the Auditors (as defined in the Trust Deed) of the relevant Issuer or the liquidator of the relevant Issuer (as the case may be) may determine.

Unsubordinated Liabilities means all Liabilities of Borrower and its Subsidiaries less Subordinated Debt.

Unsubordinated Liabilities means all of ADESA's consolidated total liabilities and the outstanding balance of all indebtedness of AHC (excluding liabilities of AFC) less the Subordinated Debt less the balance in the Sinking Fund Reserve, and less the restricted cash equivalents of AHC.

Unsubordinated Liabilities means, with respect to any Person, all Indebtedness as defined in clause (i) of the definition of "Indebtedness" but excluding any Subordinated Debt. Any accounting terms used in this Agreement that are not specifically defined herein shall have the meanings customarily given to them in accordance with generally accepted accounting principles as in effect on the date of this Agreement, except that references in Article 5 to such principles shall be deemed to refer to such principles as in effect on the date of the financial statements delivered pursuant thereto. Any reference to "Griffon and its Subsidiaries" shall mean Griffon and its Subsidiaries on a consolidated basis.

Unsubordinated Liabilities shall be defined as Debt less Subordinated Debt.

Unsubordinated Liabilities means Total Liabilities less Subordinated Debt, and (ii) “Capital Base” means Tangible Net Worth plus Subordinated Debt, each as determined in accordance with GAAP.”