Average Adjusted Shareholders’ Equity definition
Average Adjusted Shareholders’ Equity for any fiscal year shall mean the average of five (5) numbers consisting of the Adjusted Shareholders’ Equity as of the last day of the fiscal year and as of the last day of the four preceding fiscal quarters. “Adjusted Shareholders’ Equity” as of any date shall mean the total SSI shareholders’ equity as set forth in the consolidated balance sheet of the Company and its subsidiaries as of the applicable date, and as adjusted in accordance with Section 2.4 below.
Average Adjusted Shareholders’ Equity as of any Measurement Date means the quotient obtained by dividing (1) the sum of Adjusted Shareholders’ Equity as of the last day of each calendar month for the preceding twelve months by (2) twelve.