Base Tangible Net Worth shall initially mean ($1,000,000). On the last day of each fiscal quarter of Company (commencing June 30, 2002), Base Tangible Net Worth shall increase by $250,000.
Base Tangible Net Worth means, as of the last day of any fiscal quarter, an amount equal to the sum of $200,000,000 plus fifty percent (50%) of Consolidated Net Income (not reduced by losses) for each fiscal quarter, commencing with the quarter ending on September 30, 2008.
Base Tangible Net Worth means $160,545,000, which number is calculated as follows (with all numbers being as set forth on the Balance Sheet): (i) consolidated stockholder's equity of $242,619,000, plus (ii) intercompany debt of the Strategix Business of $98,874,000, plus (iii) the notes payable, long-term portion, of $24,410,000, plus (iv) the notes payable, short-term portion, of $2,217,000, plus (v) an agreed adjustment of $4,000,000 in respect of payments under certain Earnout Agreements, minus (vi) the aggregate amount of goodwill of $193,655,000, minus (vii) the net deferred income tax assets of $5,924,000, minus (viii) cash and cash equivalents of $11,996,000. "Final Tangible Net Worth" means the Closing Tangible Net Worth a. as shown in Seller's calculation delivered pursuant to Section 2.03(a), if no notice of disagreement with respect thereto is duly delivered pursuant to Section 2.03(b); or b. if such a notice of disagreement is delivered, (1) as agreed by Buyer and Seller pursuant to Section 2.03(c) or (2) in the absence of such agreement, as shown in the independent accountant's calculation delivered pursuant to Section 2.03(c); provided that in no event shall Final Tangible Net Worth be more than Seller's calculation of Closing Tangible Net Worth delivered pursuant to Section 2.03(a) or less than Buyer's calculation of Closing Tangible Net Worth delivered pursuant to Section 2.03(b).
Examples of Base Tangible Net Worth in a sentence
Beginning December 31, 2005, maintain at all times Tangible Net Worth of not less than the Base Tangible Net Worth.
More Definitions of Base Tangible Net Worth
Base Tangible Net Worth shall initially mean $36,500,000, minus the Aggregate Redemption Amount. On June 30, 2011, the Base Tangible Net Worth shall decrease to $35,500,000, minus the Aggregate Redemption Amount.
Base Tangible Net Worth shall initially mean $8,000,000. Beginning March 31, 2004 and on the last day of each fiscal quarter thereafter, Base Tangible Net Worth shall increase by an amount equal to the greater of either (i) fifty percent (50%) of the Net Income of Company and its Consolidated Subsidiaries for the fiscal quarter then ended or (ii) $500,000. If Net Income is less than zero for any fiscal quarter, it shall be deemed to be zero for purposes of this calculation.
Base Tangible Net Worth means that as set forth in Section 5.16 hereof.
Base Tangible Net Worth means Twenty Nine Million Dollars ($29,000,000).
Base Tangible Net Worth means (a) with respect to the Borrower, the sum of (i) 10% of the Acquisition Cost of any Tier One Railcars acquired by the Borrower on or prior to September, 30, 2004, and (ii) 20% of the Acquisition Cost of any Tier Two Railcars acquired by the Borrower on or prior to September 30, 2004, and (b) with respect to PLM Equipment Growth Fund, the Tangible Net Worth of PLM Equipment Growth Fund as of June 30, 2004.
Base Tangible Net Worth means the Tangible Net Worth of Borrower as of the Closing Date, after (i) giving effect to the transactions contemplated by the Merger Documents, including the addition to Borrower's equity capital of the $35,000,000 investment to be made in Borrower pursuant to the Merger Documents, (ii) deducting all adjustments necessary to pay all claims under the Reorganization Plan and to redeem all shares of capital stock of Borrower held on the Closing Date by non-employee shareholders (other than former employees and other than the interest of former employees in Borrower's pension, profit sharing and stock plan), and (iii) subtracting $2,000,000.
Base Tangible Net Worth means the Tangible Net Worth of the Borrower as of March 31, 2005.