Common use of Closing Book Value Clause in Contracts

Closing Book Value. Closing Book Value" (whether or not positive) means (a) the net book value, on a combined basis, of the Assets, excluding the Excluded Assets, minus the Continuing Liabilities at the Closing, as determined in accordance with generally accepted accounting principles, applied on a consistent basis ("GAAP"), MINUS (b) the recorded value of any goodwill or (except as noted above in this Section 1.4.

Closing Book Value. Closing Book Value" (whether or not positive) means (a) the net book value, value on a combined basis, basis of the Assets, excluding the Excluded Assets, minus the Continuing Assumed Liabilities at the ClosingClosing (whether or not positive), as determined in accordance with generally accepted accounting principles, applied on a consistent basis ("GAAP"), MINUS (b) the recorded value of any goodwill or (except as noted above in this Section 1.4.