Examples of Consolidated Net Assets in a sentence
The term Consolidated Net Assets means the total assets appearing on the most recently prepared consolidated balance sheet of the Company and its Subsidiaries as at the end of the fiscal quarter of the Company, prepared in accordance with generally accepted accounting principles in the United States, less all current liabilities (due within one year) as shown on such balance sheet.
On a Consolidated basis, maintain at all times, Consolidated Net Assets at a level greater than or equal to Consolidated Funded Debt.
In any computation of Consolidated Funded Indebtedness or Consolidated Net Assets, there shall be excluded (a) all obligations with respect to which an amount sufficient to discharge the same in full shall have been deposited, in trust for the payment thereof, and (b) all moneys so deposited for the payment of such obligations or deposited, in trust, for the retirement of shares of stock.
Liens not otherwise permitted by the foregoing clauses of this subsection 6.1, securing Debt in an aggregate principal amount at any time outstanding not to exceed 10% of Consolidated Net Assets.
The obligation of previous planning is not applied in case of cash withdrawals resulted from credits granting made available to the borrower, owner of the Current Bank Account from which the drawing is performed.