Minimum Net Assets definition
Examples of Minimum Net Assets in a sentence
The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a statement of said Net Assets and Minimum Net Assets (calculated within 10 Days of the Borrowing Date).
The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Business Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Lender with a statement of said Net Assets and Minimum Net Assets (calculated within 10 Business Days of the Borrowing Date).
The Net Assets of the Borrower most recently calculated prior to the Borrowing Date (but in any event within 10 Days of the Borrowing Date) shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a calculation demonstrating that said Net Assets are greater than or equal to Minimum Net Assets (calculated within 10 Days of the Borrowing Date).
Within thirty (30) days after delivery of the accountant's report to Purchaser, the undisputed amount, if any, by which the Actual Net Assets are greater than the Minimum Net Assets shall be paid to United by Purchaser, and the undisputed amount, if any, by which the Actual Net Assets are less than the Minimum Net Assets shall be paid to Purchaser by Sellers.
Minimum Net Assets as demonstrated by the calculations set forth on Schedule A $ 125,000,000 $ ____________ Yes No Minimum Bank Asset Coverage as demonstrated by the calculations set forth on Schedule A 225 % $ ____________ Yes No Minimum Asset Coverage as demonstrated by the calculations set forth on Schedule A 150 % Yes No BANK USE ONLY Comments Regarding Exceptions: See Attached.
Eureka covenants and agrees that it will maintain no less than $3,000,000 in Net Assets (the “Minimum Net Assets Threshold”) for the four year period following the Closing Date, provided, that the Minimum Net Assets Threshold shall be reduced by $750,000 on each anniversary of the Closing Date, less in each case, the amount of any outstanding and unresolved claims for indemnification made by Buyer against Eureka pursuant to Article IX.
The Net Assets of the Borrower immediately after giving effect to the transactions contemplated hereby to occur on or prior to the Effective Date shall be greater than or equal to the Minimum Net Assets, and the Borrower shall provide the Administrative Agent with a statement of said Net Assets and Minimum Net Assets, as of the Effective Date.
The Adjustment Amount, if any, shall be paid by Owners to Buyer pursuant to the terms of this Section 2.9. In the event the Actual Net Assets are greater than the Minimum Net Assets or the Actual Working Capital is greater than the Minimum Working Capital, neither the Company nor the Owners be entitled to the payment of an Adjustment Amount by the Buyer and the absolute value assigned to such difference for purposes of the calculation of the Adjustment Amount described above shall be zero.
Minimum Net Assets as demonstrated by the calculations set forth on Schedule A $65,000,000 $ Yes No Minimum Bank Asset Coverage as demonstrated by the calculations set forth on Schedule A 300% $ Yes No Minimum Asset Coverage as demonstrated by the calculations set forth on Schedule A 150% Yes No BANK USE ONLY Comments Regarding Exceptions: See Attached.
Minimum Net Assets as demonstrated by the calculations set forth on Schedule A $125,000,000 $ Yes No Minimum Bank Asset Coverage as demonstrated by the calculations set forth on Schedule A 225% $ Yes No Minimum Asset Coverage as demonstrated by the calculations set forth on Schedule A 150% Yes No BANK USE ONLY Comments Regarding Exceptions: See Attached.