GAAP Value definition

GAAP Value means, with respect to any property or asset, the book value for such property or asset determined in accordance with Generally Accepted Accounting Principles consistently applied.

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GAAP Value means, with respect each property constituting part ---------- of the Company's Real Estate Inventory, the GAAP basis asset value for such property or asset.

GAAP Value means, with respect to each property constituting part of Borrower’s and its Eligible Subsidiaries’ Real Estate Inventory, the asset value for such property or asset determined in accordance with GAAP minus an amount equal to all obligations accrued or otherwise payable by Borrower or such Eligible Subsidiary to third parties pursuant to the terms of any Profit and Participation Agreements executed in connection with such property or asset.

Examples of GAAP Value in a sentence

• At any time of determination ------------------------- thereof, the value of any component of Real Estate Inventory used to calculate the Borrowing Base does not exceed the GAAP Value of such component of Real Estate Inventory.

• The Borrower shall maintain at all times a ratio of (a) the GAAP Value of Unimproved Land of the Borrower and its Subsidiaries to (b) Consolidated Tangible Net Worth of not more than 0.15 to 1.

• At any time of determination thereof, the value of any component of Real Estate Inventory used to calculate the Borrowing Base does not exceed the GAAP Value of such component of Real Estate Inventory.

• The Borrower shall maintain at all times a ratio of (a) the GAAP Value of Unsold Land of the Borrower and its Subsidiaries to (b) Consolidated Tangible Net Worth of not more than 1.25 to 1.

• The Company shall not permit the aggregate GAAP Value of all Undeveloped Land of the Company and all Subsidiaries (together with the GAAP Value of any Undeveloped Land within the Kunia Property or the ▇▇▇▇▇'▇ Pointe Property) to exceed, in the aggregate, $250,000,000 at any time.

More Definitions of GAAP Value

GAAP Value means, with respect to each Borrowing Base Asset, the GAAP basis asset value for such property or asset (but in no event greater than cost minus accumulated depreciation). In determining GAAP Value, costs for Land/Lots Under Development and Unimproved Land shall include land costs and costs associated with obtaining requisite zoning requirements and governmental approvals, capitalized expenses associated with pulling permits and the commencement of physical site improvement and soft and hard costs incurred, and costs for Finished Lots, Unsold Units and Sold Homes shall include the proportional costs of (a) the land per lot/unit, and (b) the site improvements and soft and hard costs incurred; and the cost of any land which is subject to a purchase option shall be excluded until the Borrower has acquired title.

GAAP Value means the value of Inventory carried on the books of the Borrowers in accordance with GAAP requirements for market value adjustments to the book value of Inventory.

GAAP Value means, with respect each Asset, the GAAP basis asset value for such property or asset (but in no event greater than cost minus accumulated depreciation). In determining GAAP Value, costs for Land/Lots Under Development and Unimproved Land shall include land costs and costs associated with obtaining requisite zoning requirements and governmental approvals, capitalized expenses associated with pulling permits and the commencement of physical site improvement; and costs for Finished Lots and Unsold Units shall include the proportional costs of (a) the land per lot/unit, and (b) the site improvements and soft and hard costs incurred; and the cost of any land which is subject to a purchase option shall be excluded until the Company or the Restricted Subsidiary has acquired title.

GAAP Value means the book value of such item prepared in accordance with Israeli GAAP and calculated using a consistent methodology as noted in the Financial Statements and including the effects, if any, of adjustments for the changes in the general purchasing power of the New Israeli Shekel ("NIS") as measured by the Israeli consumer price index.

GAAP Value means, with respect to any property or asset, the book value for such property or asset determined in accordance with Generally Accepted Accounting Principles consistently applied. 120 “Generally Accepted Accounting Principles” (or “GAAP”) means generally accepted accounting principles in the United States as in effect from time to time, unless otherwise specified herein; provided, that any change in GAAP after the Restatement Date shall not cause any lease that was not or would not have been a Capital Lease prior to such change to be deemed a Capital Lease. The term “consistently applied,” as used in connection therewith, means that the accounting principles applied to financial statements of a Person as of any date or for any period are consistent in all material respects (subject to Section 1.2) to those applied to financial statements of that Person as of recent prior dates and for recent prior periods.

GAAP Value means the value of an Award on the date it is made for purposes of determining compensation expense in accordance with U.S. generally accepted accounting principles, assuming that the Award would vest in full.

GAAP Value means the value of an asset or liability as reported on Maker’s GAAP Financial Statements.