Going Concern Basis definition

Going Concern Basis means a basis for determining the value of the Pension Plan’s assets and liabilities that: (i) is adequate and appropriate; (ii) is in accordance with accepted actuarial practice, and (iii) applies to the Pension Plan if no decision has been made to terminate the Pension Plan.
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Examples of Going Concern Basis in a sentence

  • In preparing an actuarial valuation report for a going concern valuation as required by subsection 10.3(a) of the Agreement, the Plan Actuary shall value the Pension Plan’s assets and liabilities on a Going Concern Basis as at the Review Date.

  • In preparing an actuarial valuation report for a going concern valuation as required by subsection 10.2(a) of the Joint Trust Agreement, the Plan Actuary shall value the Pension Plan’s assets and liabilities on a Going Concern Basis as at the Review Date.

  • In preparing an actuarial valuation report for a going concern valuation as required by subsection 11.2(a) of the Joint Trust Agreement, the Plan Actuary shall value the Pension Plan’s assets and liabilities on a Going Concern Basis as at the Review Date.

Related to Going Concern Basis

  • Consolidated Tangible Net Assets means, on any date of determination and with respect to any Person at any time, the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the consolidated balance sheet of such Person and its Consolidated Subsidiaries most recently delivered to the Lenders pursuant to Section 5.01(i) as of such date of determination, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the consolidated current liabilities of such Person and its Consolidated Subsidiaries appearing on such balance sheet.

  • Consolidated Net Assets means the aggregate amount of assets (less applicable reserves and other properly deductible items) after deducting therefrom all current liabilities, as set forth on the Consolidated balance sheet of the Consolidated Group most recently furnished to the Lenders pursuant to Section 5.01(i)(ii) prior to the time as of which Consolidated Net Assets shall be determined.

  • Business concern or business means a business that has annual gross sales of less than $75,000,000 as evidenced by the federal income tax return of the business. A firm with gross sales in excess of this cap may apply to the Council for certification for a particular contract if the firm can demonstrate that the contract would have significant impact on businesses owned by minorities, women, or persons with disabilities as suppliers or subcontractors or in employment of minorities, women, or persons with disabilities.

  • Fair Valuation means the determination of the value of the consolidated assets of a Person on the basis of the amount which may be realized by a willing seller within a reasonable time through collection or sale of such assets at market value on a going concern basis to an interested buyer who is willing to purchase under ordinary selling conditions in an arm’s length transaction.

  • Business concern means any corporation, company, limited liability company, partnership, joint venture, trust, unincorporated association or any other form of association.