Capital Impairment has the meaning set forth in Section 11.10(c).
Capital Impairment shall have the meaning specified in Annex A.
Capital Impairment as defined in Section 13.9.2(a). Capital Lease: any lease that is required to be capitalized for financial reporting purposes in accordance with GAAP.
Examples of Capital Impairment in a sentence
The relevant German Guarantor shall provide a written substantiated confirmation to the Agent within 15 (fifteen) Business Days following a Lender’s demand under the Guarantee to what extent the demanded payment would lead to the occurrence of a Capital Impairment (the Management Determination).
More Definitions of Capital Impairment
Capital Impairment. See §7.1(g).
Capital Impairment has the meaning assigned to such term in Section 2.04.
Capital Impairment occurs if the payment or enforcement causes (A) the German Note Guarantor’s net assets to be (determined in accordance with the provisions of the German Commercial Code (Handelsgesetzbuch, “HGB”) consistently applied by the German Note Guarantor in preparing its unconsolidated balance sheets (Jahresabschluss) according to section 42 of the German Limited Liabilities Companies Act (Gesetz betreffend die Gesellschaften mit beschränkter Haftung, “GmbHG”) and in accordance with sections 30, 31 GmbHG (as applicable at the time of enforcement) and by only taking into account the sum of the values of the assets of the German Note Guarantor which correspond to those items listed in section 266 subsection (2) A, B, C, D and E HGB less the German Note Guarantor’s liabilities, consisting of all liabilities and liability reserves which correspond to those items listed in accordance with section 266 subsection (3) B (but disregarding, for the avoidance of doubt, any provisions (Rückstellungen) in respect of this Note Guaranty), C, D and E HGB and any amounts not available for distribution according to section 253 paragraph 6 or section 268 subsection (8) HGB but, for the avoidance of doubt, excluding any liabilities under or relating to the Guaranteed Obligations) and in each case subject to the adjustments under in sub-paragraph (2) below (the “Net Assets”) to be less than its registered share capital (Stammkapital) (Begründung einer Unterbilanz); or (B) if the German Note Guarantor’s Net Assets are already less than its registered share capital, the German Note Guarantor’s Net Assets to be further reduced (Vertiefung einer Unterbilanz).
Capital Impairment means a capital deficiency to the extent of potential insolvency or endangering the funds of depositors or other creditors;
Capital Impairment shall have the meaning set forth in Section 15.6(a) hereof.
Capital Impairment shall have the meaning set forth in Section 6.11(d).
Capital Impairment has the meaning ascribed to that term in Section 13.12(a).