IC Adjustment definition
IC Adjustment means the adjustment to the Tangible Net Worth floor required to be maintained under Section 7.4 hereof determined (in accordance with GAAP) as of the last day of the fiscal quarter in which the IC Transfer shall occur in the amount of the change in Tangible Net Worth (whether positive or negative) which results from such sale, such that if, as a result of the IC Transfer, the Tangible Net Worth shall increase, the amount of said increase shall be added to the Tangible Net Worth required to be maintained hereunder and if the Tangible Net Worth shall decrease as a result of such transfer, the amount of Tangible Net Worth required to be maintained hereunder shall be decreased by such amount.