Examples of Net Asset Test in a sentence
Provided that the Net Asset Test is satisfied, upon any such election by a Conduit Investor or any such request by the Transferor to such Conduit Investor, such Conduit Investor shall make such assignment and the Bank Investors in its Related Group shall accept such assignment and shall assume all of such Conduit Investor's obligations hereunder.
Provided that (i) the Net Asset Test is satisfied and (ii) the Transferor shall 77 have paid to the Company all amounts due as described in Section 9.7(d) (which amount may be deemed paid by the Transferor through an increase in the Net Investment), upon any such election by the Company or any such request by the Transferor, the Company shall make such assignment and the Bank Investors shall accept such assignment and shall assume all of the Company's obligations hereunder.
Provided that the Net Asset Test is satisfied, upon any such election by the Company or any such request by the Transferor, the Company shall make such assignment and the Bank Investors shall accept such assignment and shall assume all of the Company's obligations hereunder.
There are no Liabilities of the Partnership or any Subsidiary, other than Liabilities (i) reflected or reserved against on the Net Asset Test Reference Balance Sheet, (ii) incurred since March 31, 1997 in the ordinary course of the business, consistent with the past practice, or (iii) disclosed in this Agreement or in the Sellers' Disclosure Schedule, of the Partnership and the Subsidiaries and which do not and could not have a Material Adverse Effect.
In our submission, that is not a well-reasoned planning approach.