FASB 115 definition
Examples of FASB 115 in a sentence
As of the Effective Date through December 31, 2006, it will not permit or suffer the consolidated shareholders’ equity of the Company and its Subsidiaries, determined on a consolidated basis in accordance with Generally Accepted Accounting Principles, but excluding the effects of FASB 115, at any time to be less than $120,000,000 (the “Minimum Shareholders’ Equity”).
As of the last day of the month immediately preceding the Effective Time (the "Determination Date"), Western shall prepare a consolidated balance sheet of Western in accordance with generally accepted accounting principles, but excluding the effects of any adjustments otherwise required by FASB 115 and excluding any footnotes that might be required to be included with such financial statements (the "Determination Date Financial Statements").
Consultant will cause WBC to be available at reasonable times to provide advice and counsel to FGC's officers and representatives in person or by telephone.
The Borrower and its Subsidiaries shall maintain at all times Consolidated Net Worth equal to at least $175,000,000 (before any adjustments in respect of FASB 115).
The PPS as of the first day of each subsequent year shall be the end of fiscal year book value (FYBV) determined as of the preceding December 31 divided by 3,481,672 Phantom Shares (PS) pursuant to the following formula: Where: FYBV shall be the Retained Income, exclusive of any FASB 115 effect, as reported in the Danvers Bancorp.
As of the "Determination Date" (as hereinafter defined), Guardian shall prepare a consolidated balance sheet of Guardian in accordance with generally accepted accounting principles, but excluding the effects of any adjustments otherwise required by FASB 115 and excluding any footnotes that might be required to be included with such financial statements (the "Determination Date Financial Statements").
Borrower shall not permit its Total Equity Capital at any time to be less than the sum of (i) $400,000,000 at all times prior to the purchase by Borrower of the capital stock of Homeland Bankshares Corporation, Waterloo, Iowa ("Homeland"), and (ii) $500,000,000 at all times from and after the purchase of the capital stock of Homeland, excluding in either case, the effects of any adjustment required by FASB 115, but in no event shall such adjustment exceed $75,000,000.
FASB Rulings will also be monitored and acted upon where appropriate (i.e. FASB 115).
Notwithstanding anything to the contrary above, however, the determination of the Estimated Shareholders' Equity and Shareholders' Equity amounts shall not take into account any adjustments otherwise required by FASB 115.
Mutual Risk shall maintain a -------------------- Stockholders' Equity which is not at any time less than the sum of (a) $350,000,000 (without giving effect to no more than $15.0 million of adjustments required by FASB 115) plus (b) 50% of cumulative positive consolidated net income (without deduction for any net loss for any period) of Mutual Risk and its Subsidiaries after March 31, 2001.