NET CURRENT ASSETS Sample Clauses

NET CURRENT ASSETS. HOLDINGS will not permit the ratio of its consolidated current assets to its consolidated current liabilities as of the last day of each fiscal quarter of HOLDINGS to be less than 1.2 to 1 and will not permit its net current assets as of the last day of each fiscal quarter of HOLDINGS to be less than $17,000,000; provided , that in the event HOLDINGS fails to maintain either of these levels it shall immediately notify TRAVELERS and shall have thirty (30) days in which to restore its position. In the determination of current assets, pipe inventory shall be classified as a current asset; and provided further , that for purposes of calculating consolidated current liabilities, current maturities of DEBT will be excluded from the calculation thereof to the extent HOLDINGS or any of its SUBSIDIARIES is able to repay such current maturities through the incurrence of other non-current DEBT (including, without limitation, through borrowings under the BANK LOAN FACILITY).
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NET CURRENT ASSETS. As at 30 June 2020, the Group’s net current assets, defined as total current assets less total current liabilities, amounted to RMB362 million (31 December 2019: RMB3,272 million).
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NET CURRENT ASSETS. As soon as practicable but within thirty (30) days after the Closing Date, the Shareholders, at their expense, shall cause Xxxxx & Associates, an independent accounting firm, to prepare a balance sheet of the Company immediately prior to the Effective Time (the "Effective Time Balance Sheet") setting forth the net current assets of the Company using accrual accounting and in conformance with generally accepted accounting principles (the "Net Current Assets"). A copy of the Effective Time Balance Sheet shall be promptly furnished to Parent. If Parent disagrees with the Net Current Assets, Parent shall engage Coopers & Xxxxxxx, an independent public accounting firm, at its expense, to audit the Effective Time Balance Sheet and deliver a certified written report to the Shareholders confirming the Net Current Assets ("Audited Net Current Assets"). If the Shareholders fail to notify Parent within fifteen (15) days after receiving the Coopers & Xxxxxxx report, such report shall be deemed accepted for purposes of calculating Net Current Assets. If the Shareholders should so notify Parent of a dispute concerning Audited Net Current Assets, Parent shall then engage another big-six independent accounting firm that is mutually acceptable to Parent and the Shareholders to resolve such dispute and such firm shall notify Parent and the Shareholders of its resolution of such dispute within two weeks of its engagement by Parent. The cost of services provided by such big-six accounting firm shall be borne equally by Parent on one hand and the Shareholders on the other. Any such resolution shall be final and binding on all parties hereto for the purposes of calculating Net Current Assets. In the event the amount of Net Current Assets is less than $670,000 the Shareholders shall pay such deficit amount to Parent on a dollar-for-dollar basis within thirty (30) days following the later of its determination of the Net Current Assets, Parent's audit or the resolution of any dispute by such big-six accounting firm. In the event the amount of the Net Current Assets is greater than $670,000 Parent shall pay such excess amount on a dollar-for-dollar basis to the Shareholders within thirty (30) days following the later of either Xxxxx & Associates' determination of the Net Current Assets or the determination of Audited Net Current Assets. For purposes of this Section 3.7, "Net Current Assets" shall mean the current assets of the Company at the Effective Time determined in accordance ...
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NET CURRENT ASSETS. 6.19(a) Notices.........................................................................................3.25(a)(i) Patent Rights..........................................................................3.20(c) and 4.20(c) Permitted Lien.....................................................................................9.12(e) person ............................................................................................9.12(f) Post-Merger Board..................................................................................6.19(a)
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NET CURRENT ASSETS. (i) If the Net Current Assets exceed the Estimated Net Current Assets, the Purchaser shall pay to the Principal Seller an additional amount equal to the excess of the Net Current Assets over the Estimated Net Current Assets as an increase in the consideration for the Shares.
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NET CURRENT ASSETS. 1. The Adjusted Net Current Assets of the Group shall be the aggregate of all the current assets as shown in the Completion Accounts less the aggregate of all liabilities (including amounts falling due to creditors not only within but also outside of one year) and charges (including provision for vessels survey and maintenance but excluding deferred Taxation except for Taxation arising on the sale or disposal of an asset when proceeds reinvested in a wasting asset) adjusted as follows to the extent not already taken into account in the Completion Accounts:-
Sample 1
NET CURRENT ASSETS. As soon as practicable but within thirty (30) days after the Closing Date, the Seller, at its expense, shall cause Connor Ash P.C., an independent accounting firm, to prepare a balance sheet of the Seller immediately prior to the Effective Time (the "Effective Time Balance Sheet") setting forth the net current assets of the Seller using accrual accounting and in conformance with generally accepted accounting principles (the "Net Current Assets"). A copy of the Effective Time Balance Sheet shall be promptly furnished to the Buyer. If the Buyer disagrees with the Net Current Assets, the Buyer shall engage Coopers & Xxxxxxx, an independent public accounting firm, at its expense, to audit the Effective Time Balance Sheet and deliver a certified written report to the Seller confirming the Net Current Assets ("Audited Net Current Assets"). If the Seller fails to notify the Buyer within fifteen (15) days after receiving the Coopers & Xxxxxxx report, such report shall be deemed accepted for purposes of calculating Net Current Assets. If the Seller should so notify the Buyer of a dispute concerning Audited Net Current Assets, the Buyer shall then engage another big-six independent accounting firm that is mutually acceptable to the Buyer and the Seller to resolve such dispute and such firm shall notify the Buyer and the Seller of its resolution of such dispute within two weeks of its engagement by
Sample 1
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NET CURRENT ASSETS. LCCR's net current assets (current assets minus current liabilities), as calculated under Section 2.7 of this Agreement, shall be at least $1.8 million.
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Related to NET CURRENT ASSETS

  • Current Liabilities 20 12.07 Damages.................................................................................................21 12.08

  • Aggregate Net Assets For each Lifecycle Portfolio, Aggregate Net Assets include the net assets of all the JHF II Lifecycle Portfolios and the net assets of all the JHT Lifecycle Trusts. The JHT Lifecycle Trusts are: the Lifecycle 2010 Trust, Lifecycle 2015 Trust, Lifecycle 2020 Trust, Lifecycle 2025 Trust, Lifecycle 2030 Trust, Lifecycle 2035 Trust, Lifecycle 2040 Trust, Lifecycle 2045 Trust and Lifecycle 2050 Trust. Lifestyle Portfolios Rates Applied to Aggregate Net Assets of the Fund of Funds (1) Fund of Funds Affiliated Fund Assets Other Assets First $7.5 billion Excess Over $7.5 billion First $7.5 billion Excess Over $7.5 billion Each Lifestyle Portfolio 0.050% 0.040% 0.500% 0.490%

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Consolidated Net Worth Borrower will at the end of each fiscal quarter maintain Consolidated Net Worth in an amount of not less than the sum of (i) $625,000,000 plus (ii) fifty percent (50%) of the aggregate Consolidated Net Income, if positive, for the period beginning January 1, 2005 and ending on the last day of such fiscal quarter.

  • Minimum Consolidated Net Worth The Company will not permit its Consolidated Net Worth at any time to be less than the sum of (a) $800,000,000 plus (b) an aggregate amount equal to 50% of its Consolidated Net Earnings (but, in each case, only if a positive number) for each completed fiscal year beginning with the fiscal year ending September 30, 2013.”

  • Net Asset Value The net asset value of each outstanding Share of the Trust shall be determined at such time or times on such days as the Trustees may determine, in accordance with the 1940 Act. The method of determination of net asset value shall be determined by the Trustees and shall be as set forth in the Prospectus or as may otherwise be determined by the Trustees. The power and duty to make the net asset value calculations may be delegated by the Trustees and shall be as generally set forth in the Prospectus or as may otherwise be determined by the Trustees.

  • Consolidated Capital Expenditures (i) Company will not, and will not permit any of its Subsidiaries to, make or commit to make Consolidated Capital Expenditures in any Fiscal Year, beginning with the Fiscal Year ending December 31, 2003, except Consolidated Capital Expenditures which do not aggregate in excess of the corresponding amount set forth below opposite such Fiscal Year: Fiscal Year Consolidated Capital Expenditures Fiscal Year ending December 31, 2003 $ 5,000,000 Fiscal Year ending December 31, 2004 $ 5,000,000 Fiscal Year ending December 31, 2005 and each Fiscal Year thereafter $ 7,000,000 provided that (a) if the aggregate amount of Consolidated Capital Expenditures actually made in any such Fiscal Year shall be less than the limit with respect thereto set forth above (before giving effect to any increase therein pursuant to this proviso) (the “Base Amount”), then the amount of such shortfall (up to an amount equal to 50% of the Base Amount for such Fiscal Year, without giving effect to this proviso) may be added to the amount of such Consolidated Capital Expenditures permitted for the immediately succeeding Fiscal Year and any such amount carried forward to a succeeding Fiscal Year shall be deemed to be used prior to Company and its Subsidiaries using the amount of capital expenditures permitted by this section in such succeeding Fiscal Year, without giving effect to such carryforward and (b) for any Fiscal Year (or portion thereof) following any acquisition of a business (whether through the purchase of assets or of shares of capital stock) permitted under subsection 6.7, the Base Amount for such Fiscal Year (or portion) shall be increased, for each such acquisition, by an amount equal to the product of (A) the lesser of (x) $5,000,000 and (y) 4% of revenues of the business acquired in such acquisition for the period of four Fiscal Quarters most recently ended on or prior to the date of such business acquisition multiplied by (B) (x) in the case of any partial Fiscal Year, a fraction, the numerator of which is the number of days remaining in such Fiscal Year after the date of such business acquisition and the denominator of which is 365 (or 366 in a leap year), and (y) in the case of any full Fiscal Year, 1.

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

  • Adjusted Tangible Net Worth On the Effective Date, Seller’s Adjusted Tangible Net Worth is not less than the amount set forth in Section 2.1 of the Pricing Side Letter.

  • Consolidated Tangible Net Worth (i) The net worth of Seller and its consolidated subsidiaries, on a combined basis, determined in accordance with GAAP, minus (ii) all intangibles determined in accordance with GAAP (including goodwill, capitalized financing costs and capitalized administration costs but excluding originated and purchased mortgage servicing rights or retained residual securities) and any and all advances to, investments in and receivables held from affiliates; provided, however, that the non-cash effect (gain or loss) of any xxxx-to-market adjustments made directly to stockholders’ equity for fluctuation of the value of financial instruments as mandated under the Statement of Financial Accounting Standards No. 133 (or any successor statement) shall be excluded from the calculation of Consolidated Tangible Net Worth.

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