Tangible Net Worth

Tangible Net Worth. Is, on any date, the consolidated total assets of Borrower and its Subsidiaries minus, (i) any amounts attributable to (a) goodwill, (b) intangible items such as unamortized debt discount and expense, Patents, trade and service marks and names, copyrights and research and development expenses except prepaid expenses, and (c) reserves not already deducted from assets, and (ii) Total Liabilities.

Tangible Net Worth. All amounts that would be included under capital or shareholder's equity (or any like caption) on the balance sheet of any Person, minus (a) amounts owing to that Person from any Affiliate thereof, or from officers, employees, partners, members, directors, shareholders or other Persons similarly affiliated with such Person or any Affiliate thereof, (b) intangible assets, and (c) prepaid taxes and/or expenses, plus deferred origination fees, net of deferred origination costs, all on or as of... such date View More

Tangible Net Worth. The sum of (x) $86,000,000, plus (y) one hundred percent (100%) of the net proceeds of any equity offering by the Collection Agent (whether public or private) which occurs subsequent to the Closing Date, plus (z) eighty percent (80%) of Net Income for the period from April 1, 2000 through the date of determination; provided that for purposes of calculating... the Collection Agent's Tangible Net Worth, in no event shall the Collection Agent's Net Income be less than zero. View More

Tangible Net Worth. Means the total of all assets appearing on a balance sheet prepared in accordance with GAAP for Borrower and the Subsidiaries on a consolidated basis, minus (a) all intangible assets, including, without limitation, unamortized debt discount, Affiliate, employee, officer and stockholder receivables or advances, goodwill, research and development costs, patents, trademarks, the excess of purchase price over underlying values of acquired companies, any covenants not to compete, deferred... charges, copyrights, franchises and appraisal surplus; minus (b) all obligations which are required by GAAP to be classified as a liability on the consolidated balance sheet of Borrower and the Subsidiaries; minus (c) the amount, if any, at which shares of stock of a non-wholly owned Subsidiary appear on the asset side of Borrower's consolidated balance sheet, as determined in accordance with GAAP; plus (d) with the amount of minority interest as reflected on the balance sheet, minus (e) deferred income and reserves not otherwise classified as a liability on the consolidated balance sheet of Borrower and the Subsidiaries. View More

Tangible Net Worth. Borrower's total assets excluding all intangible assets (i.e., goodwill, trademarks, patents, copyrights, organizational expenses, and similar intangible items, but including leaseholds and leasehold improvements) less Total Debt

Tangible Net Worth. Is, on any date, the book value of Borrower minus the aggregate amounts attributable to intangible items plus Subordinated Debt.

Tangible Net Worth. Shall mean the tangible assets of the Company and the Subsidiaries, less the liabilities of the Company and its Subsidiaries, as calculated under GAAP and consistent with past practices.

Tangible Net Worth. Shall mean, as of the time of any determination thereof, the excess of (i) the sum of (A) the par value (or value stated on the books of any Co-Borrower) of the capital stock of all classes of each Co-Borrower, 23 plus (or minus in the case of a deficit) (B) the amount of the surplus, whether capital or earned, of each Co-Borrower, plus (C) the prepaid franchise rights and trademarks under the Piggly Wiggly Master... Franchise Agreement, over (ii) the sum of treasury stock, unamortized debt discount and expense, goodwill, trademarks, trade names, patents, deferred charges, and other intangible assets and any write-up of the value of any assets; all determined on a consolidated basis in accordance with GAAP consistent with those followed in the preparation of the financial statements referred to in subsection 4(a); provided, however, that assets held under Capitalized Leases and leasehold improvements shall not be classified as intangible assets in determining the amount of Tangible Net Worth. View More

Tangible Net Worth. Shall have the meaning specified in subsection 12 hereof.

Tangible Net Worth. Shall mean the excess of total assets over total liabilities, determined in accordance with GAAP, with the following adjustments: (A) there shall be excluded from assets: (i) notes, accounts receivable and other obligations owing to Borrower from its officers or other Affiliates, and (ii) all assets which would be classified as intangible assets under GAAP, including without limitation goodwill, licenses, patents,... trademarks, trade names, copyrights, capitalized software and organizational costs, licenses and franchises; and (B) there shall be excluded from liabilities all 50% of all consideration received after the effective date of this Agreement for equity securities and indebtedness which is subordinated to the Obligations under a subordination agreement in form specified by Bank or by language in the instrument evidencing the indebtedness which Bank agrees in writing is acceptable to Bank in its good faith business judgment. View More