Effective Tangible Net Worth definition

Effective Tangible Net Worth means the Borrower's stated net worth plus Subordinated Debt but less all intangible assets of the Borrower (i.e., goodwill, trademarks, patents, copyrights, organization expense, and similar intangible items including, but not limited to, investments in and all amounts due from affiliates, officers or employees).

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Effective Tangible Net Worth means the Borrower's stated net worth less all its intangible assets (i.e., goodwill, trademarks, patents, copyrights, organization expense and similar intangible items) but including leaseholds and leasehold improvements and plus indebtedness subordinated (by its terms or by written agreement) to indebtedness owed by the Borrower to the Bank and the term "debt" shall mean all of the Borrower's liabilities excluding indebtedness subordinated (by its terms or by written agreement) to indebtedness owed by the Borrower to the Bank.

Examples of Effective Tangible Net Worth in a sentence

Maintain a Debt to Effective Tangible Net Worth (defined as total debt divided by effective tangible net worth defined as total assets, less intangible assets, loans to shareholders/affiliates/officers/employees, less total liabilities plus subordinated debt) not to exceed 1.3 to 1.
CHR shall be entitled to rely upon all such information provided without independent verification, shall have no liability with respect to, and shall be indemnified and held harmless by Client from and against the inaccuracy or inadequacy of, such information.
A Debt to Effective Tangible Net Worth ratio of not more than 1.00 to 1.00.
Borrower shall maintain a minimum Effective Tangible Net Worth of (a) <$5,400,000> on December 31, 2013 and (b) on the last day of each fiscal quarter thereafter, the sum of <$5,400,000> plus 75% of Borrower’s cumulative positive net income commencing on January 1, 2014 and continuing through the date of calculation.
A Debt to Effective Tangible Net Worth ratio of not more than 2.80 to 1.00.

More Definitions of Effective Tangible Net Worth

Effective Tangible Net Worth means at any date as of which the amount thereof shall be determined, the sum of the shareholder’s equity, partnership interest or limited liability company interest of Borrowers and their Subsidiaries minus goodwill and other intangible assets, plus Subordinated Debt; all as determined in accordance with GAAP.

Effective Tangible Net Worth means as of any date of determination, stockholders’ equity of the Issuer and its Restricted Subsidiaries (excluding any amounts attributable to Disqualified Stock), less Intangible Assets.

Effective Tangible Net Worth means net worth as determined in accordance with GAAP consistently applied, increased by Subordinated Debt, if any, and decreased by the following: patents, licenses, goodwill, subscription lists, organization expenses, trade receivables converted to notes, money due from affiliates (including officers, directors, subsidiaries and commonly held companies).

Effective Tangible Net Worth means Borrower’s total assets excluding all intangible assets (i.

Effective Tangible Net Worth means Tangible Net Worth plus the principal amount of Subordinated Debt outstanding from time to time.

Effective Tangible Net Worth means for any Person at any date the sum of (a) Tangible Net Worth plus (b)

Effective Tangible Net Worth means stockholders’ equity, less Intangible Assets.

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