Adjusted Consolidated Tangible Net Worth means, at any date, (a) Consolidated Tangible Net Worth, plus (b) the lesser of (i) fifty percent (50%) of the Subordinated Indebtedness of the Borrower and Guarantors (taken as a whole on a consolidated basis) and (ii) $100,000,000.
Adjusted Consolidated Tangible Net Worth of the Company means Consolidated Tangible Net Worth plus the amount of any Mandatory Convertible Notes and any other instrument that is mandatorily convertible into Capital Stock.
Adjusted Consolidated Tangible Net Worth of the Borrower means Consolidated Tangible Net Worth plus the amount of any Mandatory Convertible Notes.
Examples of Adjusted Consolidated Tangible Net Worth in a sentence
Notwithstanding the foregoing provisions of this Section 6.06, the Borrower shall be permitted to self-insure against all property and casualty risks associated with its construction of dwelling units up to a maximum aggregate construction exposure for any Project not to exceed at any time 10% of Adjusted Consolidated Tangible Net Worth.
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On the Agreement Date, Adjusted Consolidated Tangible Net Worth exceeds the amount required as of the Agreement Date under Section 7.01.
At any time, permit the Adjusted Consolidated Tangible Net Worth of the Borrower and the Subsidiaries to be less than the sum of (i) $120,000,000, plus (ii) the principal amount of Subordinated Debt incurred by the Borrower on and after June 27, 2002.
Adjusted Consolidated Tangible Net Worth will at no time be less than the sum of (i) $1,300,000,000 plus (ii) 50% of the consolidated net income of the Borrower and its Consolidated Subsidiaries for the period commencing on January 1, 1998 and ending at the end of the Borrower's then most recent fiscal quarter (treated for this purpose as a single accounting period).
More Definitions of Adjusted Consolidated Tangible Net Worth
Adjusted Consolidated Tangible Net Worth means, at any date, Consolidated Tangible Net Worth at such date less, to the extent not already deducted in the definition of Consolidated Tangible Net Worth, the consolidated stockholders’ equity of the Mortgage Banking Subsidiaries.
Adjusted Consolidated Tangible Net Worth means, as of any date, without duplication, (a) Consolidated Tangible Net Worth, minus (b) the amount of Borrower’s and its Subsidiaries’ Investments in Excluded Subsidiaries and their respective Subsidiaries determined in accordance with GAAP, minus (c) any non-cash gain (or plus any non-cash loss, as applicable) resulting from any xxxx-to-market adjustments made directly to Consolidated Tangible Net Worth as a result of fluctuations in the value of financial instruments owned by Borrower or any of its Subsidiaries as mandated under FAS 133 (or any successor thereto), all in accordance with GAAP.
Adjusted Consolidated Tangible Net Worth. A. The par value (or value stated on the books of the Borrower) of the capital stock of all classes of the Borrower............................................... $_________
Adjusted Consolidated Tangible Net Worth means, with respect to the Administrative Borrower and its Restricted Subsidiaries on a Consolidated basis, as of any date, the sum of (a) Tangible Net Worth, plus (b) the lowest of (i) fifty percent (50%) of the aggregate principal amount of all then outstanding Subordinated Indebtedness of the Administrative Borrower and its Restricted Subsidiaries having no amortization and a maturity date later than one year following the Scheduled Second Lien Term Loan Termination Date, (ii) twenty percent (20%) of Tangible Net Worth and (iii) $200,000,000.
Adjusted Consolidated Tangible Net Worth means, as of any date of determination thereof, the net worth of the Company and its consolidated Subsidiaries on a consolidated basis as determined in accordance with GAAP ("Net Worth"); less the sum (without duplication) of (a) any assets of the Company and its consolidated Subsidiaries which would be treated as intangibles under GAAP including, without limitation, any write-up of assets, good-will, research and development costs, trade-marks, trade names, copyrights, patents and unamortized debt discount and expenses, and (b) loans or other extensions of credit to officers of the Company or of any of its consolidated Subsidiaries other than Mortgage Loans made to such Persons in the ordinary course of business and (c) the amount of the Net Worth attributable to Capital Securities that have been contributed to the Company; plus one percent (1%) of the then-current aggregate outstanding principal balance of all Mortgage Loans then being serviced by the Company either for its own account with respect to Pledged Items or for others under Servicing Agreements (excluding Subservicing Agreements) to the extent the servicing rights relating to such Mortgage Loans have not been capitalized and are thus not accounted for in the Company's net worth as computed in accordance with GAAP.
Adjusted Consolidated Tangible Net Worth means, as of any date of determination, an amount equal to (a) the Consolidated Net Worth for KKR Financial and its consolidated Subsidiaries (as of such date of determination, and calculated without regard to any accumulated other comprehensive income or loss), less (b) the Intangible Assets for KKR Financial and its consolidated Subsidiaries (as of such date of determination), excluding accumulated other comprehensive income or loss (a component of shareholders’ equity) plus (c) Trust Preferred Indebtedness (as of such date of determination, but in no event greater than $440,000,000).
Adjusted Consolidated Tangible Net Worth means the sum of (i) Consolidated Tangible Net Worth, plus (ii) the cumulative amount of Special Subsidiary Discontinuation/Restructuring Charges incurred or taken by the Borrower for fiscal quarters ending on September 30, 1997 or thereafter (such amount to be adjusted quarterly upon delivery by the Borrower of its financial statements described in Section 6.1(ii)), provided that the cumulative amount of Special Subsidiary Discontinuation/Restructuring Charges included in Adjusted Consolidated Tangible Net Worth pursuant to this clause (ii) during the term of this Agreement shall not exceed $75,000,000 (which is an after-tax amount).