Tangible net equity definition

Tangible net equity means net equity reduced by the value assigned to intangible assets including goodwill; going-concern value; organizational expense; startup costs; long-term prepayments of deferred charges; nonreturnable deposits; and obligations of officers, directors, owners, or affiliates, except short-term obligations of affiliates for goods or services arising in the normal course of business which are payable on the same terms as equivalent transactions with nonaffiliates and which are not past-due.

Tangible net equity means net equity reduced by the value assigned to intangible assets, including, but not limited to, goodwill, going concern value, organizational expense, start-up costs, long-term prepayments of deferred charges, nonreturnable deposits, and obligations of officers, directors, owners, or affiliates, except short-term obligations of affiliates for goods or services arising in the normal course of business which are payable on the same terms as equivalent transactions with nonaffiliates and which are not past due.

Tangible net equity means, at any determination date, the total: (a) (i) (A) of the value materialized or considered as having been paid in the Issuer’s Capital Stock; and (B) of the value of the Issuer’s reserves (excluding asset revaluation reserves and including any share premium account, capital redemption reserve funds and any credit balance in the retained earnings account); and (ii) after deduction of the amounts of items (i) (A) and (i) (B) above: (x) any debt balance in the profit and loss account or impairment of the Issuer’s issued Capital Stock (except to the extent that the deduction in relation to such debtor balance or impairment has already been made); and (y) amounts attributable to capitalized items, such as goodwill, trademarks, deferred taxes, deferred tax assets, licenses, patents and other intangible assets; and (b) if applicable, apart from net income from operations and net assets of any Issuer’s Subsidiary attributable to interests that are not held, directly or indirectly, by the Issuer.

Tangible net equity means the tangible net equity of the Company on a consolidated basis, as defined in subdivision (e) of Section 1300.76 of Title 28 of the California Code of Regulations; provided that Tangible Net Equity shall be calculated using the Estimated IBNR Amount for the amount of the expenses of the Company and its Subsidiaries for IBNR.

Tangible net equity means the excess of the consolidated tangible Purchased Assets (including accounts receivable, net of allowance for doubtful accounts) of the Seller over the consolidated Assumed Liabilities of the Seller as of the Closing Date, as adjusted and calculated in accordance with the procedures established for determining the Closing Balance Sheet in Section 2.07. For purposes hereof, "NET WORKING CAPITAL" shall mean the sum of (A) all current Purchased Assets of the Seller as reflected on the Closing Balance Sheet, minus the sum of (B) all current Assumed Liabilities of the Seller as reflected on the Closing Balance Sheet. Attached to this Agreement as Schedule 2.06 is an audited Balance Sheet of the Seller dated as of December 31, 2002 (the "12/31/02 Balance Sheet"), together with an attached spreadsheet showing the calculation of Seller's Tangible Net Equity and Net Working Capital based thereon. The Seller's Tangible Net Equity and Net Working Capital shall be calculated and adjusted in accordance with the procedures established for determining the Closing Balance Sheet in Section 2.07 and shall reflect accounts and entries consistent with the accounting methodology and procedures used for establishing the 12/31/02 Balance Sheet.

Tangible net equity means all tangible assets less all liabilities of a Person as of a specific date, determined in accordance with GAAP.

Tangible net equity. The amount determined by (i) reducing the total book value of the tangible assets of the Company, by (ii) the total liabilities of the Company (including medical Claims, IBNR reserves and provider risk pools), as all such items are reflected on the Final Balance Sheet. THIRD PARTY: A Person other than the Company, Buyer or Seller. TNE DEFICIT AMOUNT: The amount by which Two Million Six Hundred Thousand Dollars ($2,600,000.00) exceeds the Tangible Net Equity. TNE EXCESS AMOUNT: The amount by which the Tangible Net Equity exceeds Two Million Six Hundred Thousand Dollars ($2,600,000.00). WARN ACT: The Worker Adjustment and Retraining Act and the rules and regulations promulgated thereunder, as from time to time may be amended.

Tangible net equity means the tangible net equity of the Company determined as of the Closing Date in accordance with the Principles and Procedures and as set forth on the Final Closing Statements.

Tangible net equity has the meaning set forth in Title 28, Article 9, Section 1300.76(c) of the California Code of Regulations, which as of the date of this Agreement means net equity reduced by the value assigned to intangible assets including, but not limited to, goodwill; going concern value; organizational expense; starting-up costs; obligations of officers, directors, owners, or affiliates which are not fully secured, except short-term obligations of affiliates for goods or services arising in the normal course of business which are payable on the same terms as equivalent transactions with nonaffiliates and which are not more than sixty (60) days past due; long term prepayments of deferred charges, and nonreturnable deposits. An obligation is fully secured for the purposes of the foregoing definition if it is secured by tangible collateral, other than by securities of the plan or an affiliate, with an equity of at least one-hundred and ten percent (110%) of the amount owing. Except as otherwise provided therein, the ▇▇▇▇- ▇▇▇▇▇ Act currently requires each Plan licensed pursuant to the ▇▇▇▇-▇▇▇▇▇ Act to have and maintain, at all times, a tangible net equity of the greater of: