Economic Basis definition
Economic Basis means GAAP adjusted to include, as applicable and to the extent not already included in the calculation of GAAP at such time, (a) the positive Market Value of inventory and exchanges in respect of transactions that do not qualify for hedging treatment under GAAP; (b) the positive or negative Marked-to-Market Value of Forward Contracts, including, but not limited to, forward physical purchase and sales contracts, that do not qualify as derivatives under GAAP, such as storage and transportation; provided that the preceding clause (b), with respect to storage and transportation contracts, shall be limited to the intrinsic value of the underlying contracts, net of any demand charges; and (c) other Marked-to-Market changes or adjustment as determined by the U.S. Borrower with agreement from the Administrative Agent; provided, that in its reasonable discretion the Administrative Agent may require the vote of the Required Lenders.
Economic Basis means the calculation of financial accounting terms using mark to market of certain assets and liabilities as if the accounting standards of the Emerging Issues Task Force (EITF) under EITF-98-10 (accounting for contracts involved in energy trading and risk management activities) still applied.
Economic Basis means the calculation of financial accounting terms using ▇▇▇▇ to market of certain assets and liabilities as if the accounting standards of the Emerging Issues Task Force (EITF) under EITF-98-10 (accounting for contracts involved in energy trading and risk management activities) applied.”
Examples of Economic Basis in a sentence
For purposes of this Section 7.16, Net Cumulative Loss shall mean the consolidated net loss of the Borrower and its Subsidiaries computed on an Economic Basis.
All such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and in accordance with GAAP or Economic Basis, as applicable, applied consistently throughout the periods reflected therein and with prior periods (except with respect to statements delivered pursuant to Section 7.1(c) of this Agreement, lack of footnote disclosure required by GAAP).
The Administrative Agent shall have received copies of management-prepared unaudited consolidated financial statements of the Borrower (together with the related Economic Basis adjustments) for the fiscal month ended July 31, 2010.
Permit, at any time, Texadian’s consolidated Leverage Ratio (as calculated on an Economic Basis) to be greater than 5.00 to 1.00.
Permit Texadian’s consolidated Tangible Net Worth (as calculated on an Economic Basis) at any time (i) to be less than $10,000,000 if, as of such date of determination, the Elected Facility Amount is equal to or less than $30,000,000, and (ii) to be less than $15,000,000 if, as of such date of determination, the Elected Facility Amount is equal to or less than $50,000,000.
More Definitions of Economic Basis
Economic Basis means GAAP adjusted to include (a) the forward value of both hedged and unhedged physical transportation capacity for up to four (4) years, net of associated transportation costs for such period, (b) the forward value of both hedged and unhedged physical storage capacity for up to four (4) years net of associated storage costs for such period, and (c) the lower of cost or market adjustment to bring the value of Product inventory to market for inventory transactions that do not classify for “hedge accounting treatment.”
Economic Basis means the calculation of financial accounting terms in accordance with GAAP or IFRS, as the case may be, with after-tax ▇▇▇▇ to market adjustments to certain assets and liabilities, including without limitation marked-to-market gains on inventory, marked-to-market gains or losses on forward contracts not already included in financial statements prepared in accordance with GAAP or IFRS, as the case may be, and marked-to-market gains or losses on storage assets, but in each case pursuant to a methodology acceptable to the Administrative Agent and the Borrower; provided, however, that marked-to-market gains or losses on storage assets shall include marked-to-market gains or losses of all hedged storage assets and shall exclude marked-to-market gains or losses of unhedged storage assets to the extent that the demand charge in connection with such unhedged storage assets for the current and subsequent month is either prepaid or otherwise deducted from such calculation.
Economic Basis means the calculation of net outstanding claims provision using an interest rate equal to 2% above the assumed inflation rate, claims handling expenses without any additional contract loadings, and a risk margin which increases the probability of sufficiency of the liabilities from 75% to 90%.
Economic Basis. GAAP adjusted to include, as applicable and to the extent not already included in the calculation of GAAP at such time, (a) the positive Market Value of inventory and exchanges in respect of transactions that do not qualify for hedging treatment under GAAP; (b) the positive or negative Marked-to-Market Value of Forward Contracts, including, but not limited to, forward physical purchase and sales contracts, that do not qualify as derivatives under GAAP, such as storage and transportation; provided that the preceding clause (b), with respect to storage and transportation contracts, shall be limited to the intrinsic value of the underlying contracts, net of any demand charges; and (c) other marked-to-market changes or adjustment as determined by the U.S. Borrower with agreement from the Administrative Agent; provided, that in its reasonable discretion the Administrative Agent may require the vote of the Required Lenders. “EEA Financial Institution”: (a) any credit institution or investment firm established in any EEA Member Country that is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country that is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country that is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. “EEA Member Country”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway. “EEA Resolution Authority”: any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. “Eligible Account Receivable”: with respect to any Loan Party, as of any date, an Account Receivable as to which the following requirements have been fulfilled: (a) such Account Receivable relates to a Materials Handling Contract, rail car lease or sublease, transportation services agreement, Commodity Contract or Financial Hedging Agreement;
Economic Basis. GAAP adjusted to include, as applicable and to the extent not already included in the calculation of GAAP at such time, (a) the positive market value of inventory in respect of transactions that do not qualify for hedging treatment under GAAP; (b) the positive or negative marked-to-market value of forward contracts, including, but not limited to, forward physical purchases and sales contracts that do not qualify as derivatives under GAAP, such as storage and transportation; provided, however, that the preceding clause (b), with respect to storage and transportation contacts, shall be limited to the intrinsic value of the underlying contracts, net of demand charges; and (c) other ▇▇▇▇-to-market changes, tenor limitations or adjustments as determined by any Borrower with agreement from the Administrative Agent; provided, further, that the Administrative Agent may, in its sole discretion, require the affirmative vote of Required Lenders as a condition to its agreement thereto.
Economic Basis means GAAP adjusted to include (a) the forward value of both hedged and unhedged physical transportation capacity for up to the ▇▇▇▇ to market valuation period (such marks to be in accordance with GAAP), net of associated transportation costs for such period, (b) the forward value of both hedged and unhedged physical storage capacity for up to the ▇▇▇▇ to market valuation period (such marks to be in accordance with GAAP), net of associated storage costs for such period, and (c) the lower of cost or market adjustment to bring the value of Product inventory to market for inventory transactions that do 3rd Amendment to 3rd A&R Credit Agreement - Enserco 2 011038.0122\561069.09 not classify for ‘hedge accounting treatment.’ At no time shall the ▇▇▇▇ to market valuation period be less than three and one-half (3.5) years.” “‘Eurodollar Rate’ means, for any Interest Period pertaining to any Eurodollar Rate Loan, the rate per annum determined on the basis of the rate for deposits in Dollars for a period equal to such Interest Period commencing on the first day of such Interest Period appearing on Reuters Reference LIBOR 01 (or otherwise on such screen) at approximately, with respect to any Notice of Borrowing or Notice of Conversion/Continuation (as applicable), 11:00 am (London time) two (2) Business Days prior to the first day of such Interest Period. In the event that such rate does not appear or shall cease to be available from Reuters Reference LIBOR 01, the Eurodollar Rate shall be determined from such financial reporting service or other information as shall be mutually acceptable to the Agent and the Borrower.”
Economic Basis means GAAP adjusted to include (a) the forward value of both hedged and unhedged physical transportation capacity for up to the mark to market valuation period (such marks to be in accordance with GAAP), net of associated transportation costs for such period, (b) the forward value of both hedged and unhedged physical storage capacity for up to the mark to market valuation period (such marks to be in accordance with GAAP), net of associated storage costs for such period, and (c) the lower of cost or market adjustment to bring the value of Product inventory to market for inventory transactions that do