Tangible Net Worth

Tangible Net Worth. The Borrowers' total assets, excluding all intangible assets (including, without limitation, goodwill, trademarks, patents, copyrights, organization expenses, and similar intangible items) less total liabilities, all determined on a consolidated basis

Tangible Net Worth. As of any date of determination and with respect to any Seller Party, the excess of total assets (net of goodwill and intangible assets) over total liabilities on such date, calculated in accordance with GAAP, as reported on such party's most recently delivered financial statements.

Tangible Net Worth. Means, at any particular time, all amounts which, in conformity with GAAP, would be included as equity on a balance sheet of a Person; provided, however, there shall be excluded therefrom: (i) any amount of which the equity of such Person appears as an asset on such Person's balance sheet, (ii) goodwill, including any amounts, however designated, that represent the excess of the purchase price paid for assets or stock over the value assigned thereto, (iii) patents, trademarks, trade names, and... copyrights, (iv) deferred expenses, (v) loans and advances to any equity holder, director, officer, or employee of the Person or any affiliate of such Person, and (vi) all other assets which are properly classified as intangible assets. View More

Tangible Net Worth. With respect to any Person and its consolidated Subsidiaries on any date, the Net Worth of such Person and its consolidated Subsidiaries, minus (a) to the extent already included in the calculation of Tangible Net Worth, amounts owing to such Person or any of its consolidated Subsidiaries from any affiliate thereof, or from officers, employees, partners, members, directors, shareholders or other Persons similarly affiliated with such Person or any Subsidiary or Affiliate thereof, (b) intangible... assets as determined in accordance with GAAP, and (c) prepaid taxes and/or expenses, all on or as of such date and all determined, in each case, on a consolidated basis without duplication. View More

Tangible Net Worth. Shall mean, with respect to any Person and its Consolidated Subsidiaries on a consolidated basis, as of any date of determination, the sum of (a) all amounts that would be included under capital or shareholders' equity (or like caption) on the balance sheet of such Person on such date, determined in accordance with GAAP as of such date, plus (b) the aggregate amount of all qualified capital commitments of such Person, less (c) (i) amounts owing to such Person or Consolidated Subsidiary from... Affiliates or from officers, employees, partners, members, director, shareholders or other Persons similarly affiliated with such Person or any Affiliate thereof, (ii) intangible assets of such Person (other than hedging transactions specifically related to the Purchased Assets) and (iii) prepaid taxes and/or expenses, all on or as of such date, plus (d)(i) the aggregate amount of accumulated depreciation and amortization related to properties, and (ii) the aggregate credit loss allowance related to "current expected credit loss" model prescribed by AC 326, all on as of such date and determined in accordance with GAAP. View More

Tangible Net Worth. With respect to any Person, on a consolidated basis, an amount equal to the difference of (a) Stockholders' Equity minus (b) the sum of (i) advances to shareholders, officers and Affiliates, (ii) investments in Affiliates (other than investments in Seller or wholly owned subsidiaries of such Person to originate loans directly or through joint ventures, partnerships, trusts or other vehicles that invest in loans and investments in or acquisitions of other mortgage REITs) and (iii) goodwill,... patents, trademarks, trade names, copyrights, franchises and any other intangibles. View More