FASB 142 definition

FASB 142 means the Financial Accounting Standards Board Statement No. 142, as in effect on the date of this Agreement, specifying applicable accounting principles with respect to goodwill adjustments.

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FASB 142 means Statement of Financial Accounting Standards No. 142, “[Goodwill and other Tangible Assets]”.

FASB 142 means Statement of Financial Accounting Standards No. 142 issued on June 29, 2001 by the Financial Standards Accounting Board.

Examples of FASB 142 in a sentence

• Permit Consolidated Net Worth as of the last day of each fiscal quarter to be less than an amount equal to the sum of (i) U.S.$375,000,000, plus (ii) 50% of cumulative Consolidated Net Income since June 30, 2005, minus (iii) any charges taken since the Closing Date for the impairment of goodwill taken pursuant to FASB 142.

• Except for the absence of footnotes to the Financial Statements and normal year-end adjustments to any interim Financial Statements, the Financial Statements have been prepared from the books and records of Seller in accordance with GAAP (except for the amortization of goodwill to the extent FASB 142 is applicable to the Financial Statements) and fairly present in all material respects the financial position of Seller at the respective dates thereof.

• Maintain, as of March 31, 2002, a minimum Net Worth of no less than $51,000,000, minus a one time write down in good-will caused by FASB 142 in an amount not in excess of $10,500,000.

• To the extent required to comply with FASB 142 or (b) following the occurrence of an Event of Default (if requested by the Agent), the Borrower and its Subsidiaries shall provide the Agent, at the expense of the Borrower, with asset appraisal reports with respect to the personal property of the Borrower and its Subsidiaries, including without limitation, brand values.

• For purposes of determining compliance with the Net Worth covenant set forth above, the base number of $50,000,000 set forth above shall be reduced by the amount of any write-down of goodwill required under FASB 142 occurring or incurred subsequent to November 30, 2001.

• Consolidated EBITDA - for any period, on a Consolidated basis, an amount equal to the sum for such period of (i) Consolidated Adjusted Net Earnings, plus (ii) provision for Taxes based on income, plus (iii) Consolidated Interest Expense, plus (iv) depreciation, amortization and other non-cash charges, including any non-cash write-down of assets relating to the consolidation of the Retail Borrowers and any write-down of Storehouse’s goodwill in accordance with FASB 142.

• Impairment charges relating to Private Partner Companies on a cumulative basis during the term of this Agreement, excluding mandatory FASB 142 charges, shall not exceed $50,000,000.

• The Borrower will not permit the Net Worth of the Borrower and its Subsidiaries at any time to be less than $550,000,000, provided that for purposes of calculating Net Worth the Borrower may exclude write-downs not in excess of $40,000,000 in the aggregate from the date of this Agreement taken in accordance with FASB 142 and GAAP.

• Impairment charges relating to Private Partner Companies on a cumulative basis during the term of this Agreement, excluding mandatory FASB 142 charges, shall not exceed $50,000,000 between May 9, 2003 and May 8, 2004.

• Any non-cash charges (pertaining to the impairment of goodwill) incurred as a result of the application of FASB 142.

More Definitions of FASB 142

FASB 142 means Financial Accounting Standards Board Statement No. 142, as in effect on the date of this Agreement, specifying, among other things, applicable accounting principles with respect to goodwill adjustments

FASB 142 means Financial Accounting Standards Board Statement No. 142, as in effect on March 28, 2003.