Adjusted Consolidated Net Worth Clause Samples
The Adjusted Consolidated Net Worth clause defines how a company's net worth is calculated for the purposes of a contract, typically by specifying adjustments to standard accounting figures. This may involve excluding certain liabilities, revaluing assets, or making other modifications to the balance sheet to reflect a more accurate or agreed-upon financial position. By clearly outlining these adjustments, the clause ensures that all parties have a consistent and transparent basis for assessing the company's financial health, which is often critical for compliance with covenants or triggering specific contractual rights.
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Adjusted Consolidated Net Worth. The Guarantor will maintain at all times Adjusted Consolidated Net Worth equal to not less than the sum of (i) $1,400,000,000 plus (ii) 25% of the Guarantor’s cumulative Consolidated Net Income, if positive, earned after December 31, 2003, through the last day of the most recent fiscal quarter or year, as applicable, for which statements were delivered or required to have been delivered to the Lessor pursuant to Section 8.01(a) or (b), taken as one accounting period, minus (iii) the Guarantor’s consolidated allowance for potential future losses on investments at the end of such fiscal quarter.
Adjusted Consolidated Net Worth. PLC will maintain at all times Adjusted Consolidated Net Worth equal to not less than the sum of (i) 70% of PLC’s Adjusted Consolidated Net Worth as of September 30, 2021 (but in no event less than $4,500,000,000) plus (ii) 25% of its Consolidated Net Income (if positive) earned after September 30, 2021 minus (iii) PLC’s consolidated allowance for potential future losses on investments at the end of such fiscal quarter not otherwise included for unrealized net gains and losses on assets held for sale pursuant to FASB ASC 320 and accumulated other comprehensive income pursuant to FASB ASC 220 at the end of such fiscal quarter.
Adjusted Consolidated Net Worth. Permit Adjusted Consolidated Net Worth at any time to be less than $2,186,551,975.
Adjusted Consolidated Net Worth. The Borrower will at no time permit Adjusted Consolidated Net Worth to be less than $2,600,000,000.
Adjusted Consolidated Net Worth. The Borrower will at ------------------------------- all times maintain Adjusted Consolidated Net Worth (as defined below) in an amount not less than $300,000,000. As used in this Agreement, "Adjusted Consolidated Net Worth" means, at any particular time, all amounts which, in conformity with GAAP, would be included as stockholders' equity on a consolidated balance sheet of the Borrower, adjusted to exclude (a) the effects of common stock of the Borrower being repurchased or being subject to repurchase under employment arrangements accounted for as variable plans under APB Opinion No. 25 (provided that any new arrangements entered into after the Effective Date as well as any amendments to arrangements existing on the Effective Date, shall not be excluded from consideration to the extent that such arrangements materially increase the Borrower's obligations), and (b) the after tax effects of the following post-Effective Date events (i) write-downs after June 30, 2000 under FASB Statement No. 19, (ii) non-cash write-ups or write-downs of assets after June 30, 2000 under FASB Statement No. 121, (iii) non-cash gains, losses or adjustments under FASB Statement No. 133, (iv) non-cash charges to earnings for options or stock issued and accounted for under APB Opinion No. 25 or FASB Statement 123, and (v) post-Effective Date changes in GAAP.
Adjusted Consolidated Net Worth. The Company will not permit the sum of Adjusted Consolidated Net Worth as of the last day of any fiscal quarter noted in the table below plus the aggregate amount of any impairment of long-lived assets, goodwill, intangibles or any of the shares of the stock of the ▇▇▇▇ Entities taken year-to-date through such fiscal quarter and reflected in such Adjusted Consolidated Net Worth, to be less than the amount set forth for such day in such table: July 5, 2009 $ 55,000,000 October 4, 2009 $ 50,000,000 December 31, 2009 $ 45,000,000
Adjusted Consolidated Net Worth. Permit Adjusted Consolidated Net Worth to be less than $175,000,000.
Adjusted Consolidated Net Worth. The Company will not permit its Adjusted Consolidated Net Worth (calculated on the last day of each fiscal quarter) to be less than the Applicable Base plus the cumulative sum of 40% of Consolidated Net Income (but only if a positive number) for (i) each completed fiscal year of the Company ending after December 31, 2001, and (ii) the period from the beginning of the then current fiscal year through the end of the then most recently ended fiscal quarter which shall have been completed (if any shall have been completed) in such then current fiscal year; provided, that at any time the Company or any Subsidiary incurs additional Indebtedness, immediately following and after giving effect to the incurrence of such additional Indebtedness, the Adjusted Consolidated Net Worth shall not be less than the minimum Adjusted Consolidated Net Worth that would have been permitted as of the last day of the then most recently ended fiscal quarter."
Adjusted Consolidated Net Worth. The Borrower will maintain at all times Adjusted Consolidated Net Worth equal to not less than the sum of (i) $1,000,000,000 plus (ii) 25% of the Borrower’s cumulative Consolidated Net Income, if positive, earned after December 31, 2000, through the last day of the most recent fiscal quarter for which statements were delivered or required to have been delivered to the Lenders pursuant to Section 5.1, taken as one accounting period, minus (iii) the Borrower’s consolidated allowance for potential future losses on investments at the end of such fiscal quarter.
Adjusted Consolidated Net Worth. Permit Adjusted Consolidated Net Worth at any time to be less than (i) $2,000,000,000 plus (ii) an amount equal to 50% of Consolidated Net Income for each fiscal quarter ending after the Closing Date but before the date of determination, in each case, for which Consolidated Net Income is positive (but with no deduction on account of negative Consolidated Net Income for any fiscal quarter) plus (iii) 75% of the aggregate net proceeds, including the fair market value of property other than cash (as determined in good faith by the Borrower’s board of directors), received by the Borrower from the issuance and sale after the date hereof of any capital stock of the Borrower (other than the proceeds of any issuance and sale of any capital stock (x) to a Subsidiary or (y) which is required to be redeemed, or is redeemable at the option of the holder, if certain events or conditions occur or exist or otherwise) or in connection with the conversion or exchange of any Indebtedness of the Borrower into capital stock of the Borrower after the Closing Date.