Tangible Net Worth

Tangible Net Worth. Means consolidated Owner's equity, plus subordinated debt otherwise permitted hereunder, less, goodwill, patents, trademarks, copyrights, franchises, formulas, leasehold interests, leasehold improvements, non-compete agreements, engineering plans, deferred tax benefits, organization costs, prepaid items, and any other assets of Borrower that would be treated as intangible assets on Borrower's balance sheet prepared in accordance with GAAP.

Tangible Net Worth. Shall mean, for any Person as of a particular date, (a) all amounts which would be included under capital on a balance sheet of such Person at such date, determined in accordance with GAAP, less (b) (i) amounts owing to such Person from Affiliates, or from officers, employees, shareholders or other Persons similarly affiliated with such Person, and (ii) intangible assets, plus (c) Qualified Subordinated Debt.

Tangible Net Worth. Stockholders' equity minus the aggregate of any ------------------- treasury stock, any intangible assets and any obligations due from stockholders, employees and/or affiliates.

Tangible Net Worth. Means the excess of the Company's total Consolidated assets over its total Consolidated liabilities computed in accordance with GAAP less all amounts due from Affiliates, officers and shareholders, intangible assets and deferred charges, including without limitation, goodwill, debt discount, organization expenses, trademarks and tradenames, patents, deferred product development costs and similar items. To the extent not defined in this Paragraph l, unless the context otherwise requires,... accounting and financial terms used in this Agreement shall have the meanings attributed to them by GAAP, and all other terms contained in this Agreement shall have the meanings attributed to them by Article 9 of the Uniform Commercial Code in force in the State of Rhode Island, as of the date hereof to the extent the same are used or defined therein. View More

Tangible Net Worth. Shall be defined as Borrower's net worth minus all intangibles, including without limitation goodwill, all calculated in accordance with GAAP.

Tangible Net Worth. Means total assets (exclusive of goodwill, patents, trademarks, trade names, organization expense, treasury stock, unamortized debt discount and premium, deferred charges and other like intangibles) less all liabilities (including accrued and deferred income taxes and subordinated liabilities).

Tangible Net Worth. Shall mean, for any Person, the Net Worth of such Person determined in accordance with GAAP minus all intangible assets, including goodwill, patents, tradenames, trademarks, copyrights, franchises, any organizational expenses, deferred expenses, receivables from shareholders, Affiliates or employees, and any other asset as shown as an intangible asset on the balance sheet of such Person on a consolidated basis as determined at a particular date in accordance with GAAP plus all subordinated debt... that matures more than six (6) months after the Termination Date. View More

Tangible Net Worth. Means, at any date, the amount of the membership equity of the Borrower on a consolidated basis (but excluding the effect of intercompany transactions) minus, to the extent not otherwise excluded (i) the cost of membership units purchased or redeemed by the Borrower; (ii) the amount equal to the value shown on its books of Intangible Assets, including the excess paid for assets acquired over their respective book values on the books of the ... corporation from which acquired; and (iii) investments in and loans to members, directors, officers, employees, Subsidiaries and affiliated entities. View More

Tangible Net Worth. Shall mean with respect to any Person and as of any date of determination, (a) all amounts that would be included under capital, preferred equity or preferred stock, or shareholders' equity (or any like caption) of such Person and its consolidated Subsidiaries, if any, on a balance sheet of such Person and its consolidated Subsidiaries at such date and not paid as a dividend or otherwise deployed, determined in accordance with GAAP less (b) the sum of (i) amounts owing to such Person from... Affiliates (other than intercompany Indebtedness of Guarantor's consolidated Subsidiaries, determined in accordance with GAAP) or from officers, employees, partners, members, directors, shareholders or other Persons similarly affiliated with such Person or any Affiliate thereof (other than intercompany Indebtedness of Guarantor's consolidated Subsidiaries, determined in accordance with GAAP), (ii) intangible assets of such Person and its consolidated Subsidiaries, if any (excluding any intangible assets associated with real estate), and (iii) prepaid Taxes and/or expenses, all on or as of such date. 3 View More

Tangible Net Worth. Means, as to any Person, the excess (as determined in accordance with GAAP) of the net book value (after deducting all applicable valuation reserves and without any consideration to any re-appraisal or write-up of assets) of that Person's tangible assets (i.e., all assets other than intangibles such as patents, costs of businesses over net assets acquired, good will, and treasury shares) over that Person's Debt