Tangible Net Worth

Tangible Net Worth. Is, on any date, the consolidated total assets of Borrower and its Subsidiaries minus, (i) all notes, accounts receivable and other obligations owing to Borrower from its officers or other Affiliates; (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 (iii) Total Liabilities.

Tangible Net Worth. Means, at any time, Net Worth at such time, minus intangible assets (in accordance with GAAP) included in determining Net Worth.

Tangible Net Worth. Tangible Net Worth: As of any date of determination, an amount equal to the excess of: (a) the total stockholders' equity of The Cronos Group and its consolidated Subsidiaries, over (b) all intangible assets included in the amount set forth in clause (a), in each case as determined in accordance with GAAP and as reported on the most recently available financial statements of The Cronos Group delivered to the Agent in accordance with the terms of the Transaction Documents; provided,... however, that for purposes of this definition, any adjustments, both positive and negative, to either or both of the amounts set forth in either clause (a) or clause (b) arising from the implementation of Statement of Financial Accounting Standards No. 133 issued by the Financial Accounting Standards Board shall be disregarded for purposes of this calculation. View More

Tangible Net Worth. Shall have the meaning specified in subsection 14(a) hereof.

Tangible Net Worth. Means as of any applicable date, the consolidated total assets of Borrower and its Subsidiaries plus (A) Subordinated Debt, minus (B), without duplication: (i) the sum of 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) all reserves not already deducted from assets, and (ii) Total Liabilities; and (iii)... Other Assets, and (iv) tax assets, and (v) security deposits. View More

Tangible Net Worth. Tangible Net Worth measured on a fiscal quarter–end basis of not less than the required amount set forth in the following table for the applicable period set forth opposite thereto; Applicable Covenant Amount (Old) Applicable Covenant Amount (New) Applicable Period $ 17,000,000 $ 15,000,000 For the 2nd quarter ending March 31, 2003 $ ... 17,000,000 $ 14,250,000 For the 3rd quarter ending June 30, 2003 $ 17,000,000 $ 14,250,000 For the fiscal year ending September 30, 2003 $ 17,000,000 $ 14,500,000 For the 1st quarter ending December 31, 2003 $ 17,000,000 $ 14,600,000 For the 2nd quarter ending March 31, 2004, and each fiscal quarter thereafter. View More

Tangible Net Worth. Means total assets less the sum of Intangible Assets and total liabilities.

Tangible Net Worth. Means, as of a particular date, (i) all amounts that would be included under stockholder's equity on a balance sheet of Guarantor and its consolidated Subsidiaries at such date, determined in accordance with GAAP, less (ii) the sum of (A) amounts owing to Guarantor and its consolidated Subsidiaries from Affiliates and (B) Intangible Assets of Guarantor and its consolidated Subsidiaries.

Tangible Net Worth. Shall mean, as of a particular date, (i) all amounts that would be included under stockholder's equity on a balance sheet of Anthracite and its consolidated Subsidiaries at such date, determined in accordance with GAAP, less (ii) the sum of (A) amounts owing to Anthracite and its consolidated Subsidiaries from Affiliates and (B) Intangible Assets of Anthracite and its consolidated Subsidiaries.

Tangible Net Worth. Maintain Tangible Net Worth plus Subordinated Debt at all times during the periods indicated of at least: • $122,000,000 from 2/24/03 to 5/31/03 • 6/1/03 to 2/27/04—$125,000,000 plus 75% of fiscal year 2003 net income ("‘03 Base") • 2/28/04 and thereafter—‘03 Base plus 75% of fiscal year 2004 net income. In addition, 75% of the net proceeds received by the Borrower or its Subsidiaries in any fiscal year from any equity offering will be added to the applicable base Tangible... Net Worth amount required as set forth above for the next succeeding fiscal year and in each fiscal year thereafter. Net losses, if any, will not be deducted from the applicable base. View More