Effective Tangible Net Worth means the Borrower's stated net worth plus Subordinated Debt but less all intangible assets of the Borrower (i.e., goodwill, trademarks, patents, copyrights, organization expense and similar intangible items).

Effective Tangible Net Worth means the Borrower’s stated net worth plus Subordinated Debt but less all intangible assets of the Borrower (i.e., goodwill, trademarks, patents, copyrights, organization expense, and similar intangible items including, but not limited to, investments in and all amounts due from affiliates, officers or employees).

Effective Tangible Net Worth means the Borrower's stated net worth less all its intangible assets (i.e., goodwill, trademarks, patents, copyrights, organization expense and similar intangible items) but including leaseholds and leasehold improvements and plus indebtedness subordinated (by its terms or by written agreement) to indebtedness owed by the Borrower to the Bank and the term "debt" shall mean all of the Borrower's liabilities excluding indebtedness subordinated (by its terms or by written agreement) to indebtedness owed by the Borrower to the Bank.

Examples of Effective Tangible Net Worth in a sentence

Borrower shall maintain a minimum Effective Tangible Net Worth of (a) <$5,400,000> on December 31, 2013 and (b) on the last day of each fiscal quarter thereafter, the sum of <$5,400,000> plus 75% of Borrower’s cumulative positive net income commencing on January 1, 2014 and continuing through the date of calculation.
Maintain a Debt to Effective Tangible Net Worth (defined as total debt divided by effective tangible net worth defined as total assets, less intangible assets, loans to shareholders/affiliates/officers/employees, less total liabilities plus subordinated debt) not to exceed 1.3 to 1.
Maintain an Effective Tangible Net Worth (defined as total assets, less intangible assets, loans to shareholders/affiliates/officers/employees, minus total liabilities, plus subordinated debt) of not less than $20,000,000.00, on a quarterly basis.
Effective Tangible Net Worth not at any time less than $30,000,000, with compliance determined on a quarterly basis.
The facts of this case are to be distinguished from the situation where the codicil makes an ambiguous reference to the decedent's "last will" or in which changes made in the codicil could be equally applicable to the intervening will as well as the prior will.

More Definitions of Effective Tangible Net Worth

Effective Tangible Net Worth means at any date as of which the amount thereof shall be determined, the financial statement net worth of Borrower, plus, without duplication, (a) Subordinated Debt, and (b) any imputed dividend received from any Subsidiary, minus, without duplication, (i) intangible assets such as goodwill, and (ii) Investments in Subsidiaries, all as determined in accordance with GAAP.

Effective Tangible Net Worth means net worth as determined in accordance with GAAP consistently applied, increased by Subordinated Debt, if any, and decreased by the following: patents, licenses, goodwill, subscription lists, organization expenses, trade receivables converted to notes, money due from Affiliates (including officers, directors, subsidiaries and commonly held companies).

Effective Tangible Net Worth means, on a consolidated basis, the total assets (exclusive of goodwill, patents, trademarks, trade names, copyrights, organization expense, investments in and all amounts due from Affiliates, officers, or employees), less total liabilities (less Indebtedness subordinated to the Notes, if any) of the Company and its subsidiaries in accordance with GAAP.

Effective Tangible Net Worth means for any Person at any date the sum of (a) Tangible Net Worth plus (b)

Effective Tangible Net Worth means stockholders’ equity, less Intangible Assets.