Common use of Consolidated Current Assets Clause in Contracts

Consolidated Current Assets. (1) All assets of the Borrowers and their Subsidiaries on a Consolidated basis that, in accordance with GAAP, are properly classified as current assets, including (without duplication) all crude oil, refined petroleum products or natural gas liquids in pipeline or storage assets owned by a Borrower at the time of determination, valued in accordance with GAAP............................. $__________ (2) All the fixed assets of the Designated Assets during the first three months following the Closing Date......................... $__________ (3) Permitted Adjustments

Consolidated Current Assets. (1) All assets of the Borrowers and their Subsidiaries on a Consolidated basis that, in accordance with GAAP, are properly classified as current assets, including (without duplication) all crude oil, refined petroleum products or natural gas liquids in pipeline or storage assets owned by a Borrower at the time of determination, valued in accordance with GAAP............................. ............................... $__________ (2) All the fixed assets of the Designated Assets during the first three months following the Closing Date......................... ........................... $__________ (3) Permitted Adjustments....................................................... $__________