Common use of Determination of Net Assets Clause in Contracts

Determination of Net Assets. (a) The term “Net Assets” means (i) the book value (net of appropriate reserves) of the assets of the Company that would be required to be included on a balance sheet prepared in accordance with past practices and consistent with the Financial Statements (as defined herein) less (ii) the book value of the liabilities of the Company that would be required to be included on a balance sheet prepared in accordance with past practices and consistent with the Financial Statements, in each case as of the close of business on the Closing Date. The computation of Net Assets will be done in a manner consistent with the methods used in the preparation of the statement of net assets of the Company as of September 30, 2004, set forth in Section 2.4(a) of the Disclosure Schedule. Notwithstanding anything to the contrary in this Article 2, Net Assets shall not include any Excluded Assets or Excluded Liabilities.

Determination of Net Assets. (a) The term “Net Assets” means (i) the book value (net of appropriate reserves) of the assets of the Company and its subsidiaries that would be required to be included on a consolidated balance sheet prepared in accordance with past practices and consistent with the Financial Statements United States generally accepted accounting principles (as defined herein) “GAAP”), less (ii) the book value of the liabilities of the Company and its subsidiaries that would be required to be included on a consolidated balance sheet prepared in accordance with past practices and consistent with the Financial StatementsGAAP, in each case as of the close of business on the Closing Date. The computation of Net Assets will be done in a manner consistent with the methods used in the preparation of the consolidated statement of net assets of the Company as of September 30, 2004, 2004 set forth in Section 2.4(a) of the Disclosure Schedule. Notwithstanding anything to the contrary in this Article 2, Net Assets shall not include any Excluded Assets or Excluded Liabilities.