Net Operating Liabilities definition

Net Operating Liabilities means, as of any date of determination, the excess of Operating Liabilities over the Operating Assets, which shall be determined in accordance with GAAP, consistently applied and determined on a basis consistent with the determination of Base Value.
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Examples of Net Operating Liabilities in a sentence

  • The Statement of Net Operating Liabilities was prepared in accordance with GAAP consistently applied and presents fairly the amounts of the Company's Operating Liabilities and Operating Assets as of the date of the Balance Sheet.

  • The Operating Liabilities set forth in the Statement of Net Operating Liabilities were, and the Operating Liabilities to be set forth in the statement of Closing Date Value will have been, incurred in the ordinary course of business and represent the amounts payable in respect thereof as of the respective dates presented.

  • Attorneys' Fees..............................................49 EXHIBIT A --- Balance Sheet and Statement of Net Operating Liabilities EXHIBIT B --- List of Capital Leases EXHIBIT C --- Statement of Assets Held for Resale EXHIBIT D --- Territory EXHIBIT E --- Management Employees -iii- STOCK PURCHASE AGREEMENT STOCK PURCHASE AGREEMENT (the "Agreement"), dated as of February 18, 1998, among ADVANTICA RESTAURANT GROUP, INC., a Delaware corporation formerly known as Flagstar Companies, Inc.

Related to Net Operating Liabilities

  • Environmental Costs and Liabilities means any and all losses, liabilities, obligations, damages, fines, penalties, judgments, actions, claims, costs and expenses (including, without limitation, fees, disbursements and expenses of legal counsel, experts, engineers and consultants and the costs of investigation and feasibility studies and remedial activities) arising from or under any Environmental Law or order or contract with any Governmental Authority or any other Person.

  • Parent Liabilities shall have the meaning set forth in Section 2.3(b).

  • Assumed Servicing Liability means any Liabilities with respect to any Serviced Appointments (or Serviced Corporate Trust Contracts) that arise out of or relate to facts, circumstances, actions, omissions and/or events occurring from and after the Closing and prior to the applicable Succession Time for such Serviced Appointment; provided that Assumed Servicing Liability shall not include any Liabilities that arise out of or relate to facts, circumstances, actions, omissions and/or events with respect to any Retained Duties or any matters for which Seller or any of its Affiliates is responsible pursuant to Section 3.9.

  • Contingent Liabilities means, respectively, each obligation and liability of the Credit Parties and all such obligations and liabilities of the Credit Parties incurred pursuant to any agreement, undertaking or arrangement by which any Credit Party either: (i) guarantees, endorses or otherwise becomes or is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise to assure a creditor against loss) the indebtedness, dividend, obligation or other liability of any other Person in any manner (other than by endorsement of instruments in the course of collection), including without limitation, any indebtedness, dividend or other obligation which may be issued or incurred at some future time; (ii) guarantees the payment of dividends or other distributions upon the shares or ownership interest of any other Person; (iii) undertakes or agrees (whether contingently or otherwise): (A) to purchase, repurchase, or otherwise acquire any indebtedness, obligation or liability of any other Person or any property or assets constituting security therefor; (B) to advance or provide funds for the payment or discharge of any indebtedness, obligation or liability of any other Person (whether in the form of loans, advances, stock purchases, capital contributions or otherwise), or to maintain solvency, assets, level of income, working capital or other financial condition of any other Person; or (C) to make payment to any other Person other than for value received; (iv) agrees to lease property or to purchase securities, property or services from such other Person with the purpose or intent of assuring the owner of such indebtedness or obligation of the ability of such other Person to make payment of the indebtedness or obligation; (v) to induce the issuance of, or in connection with the issuance of, any letter of credit for the benefit of such other Person; or (vi) undertakes or agrees otherwise to assure or insure a creditor against loss. The amount of any Contingent Liability shall (subject to any limitation set forth herein) be deemed to be the outstanding principal amount (or maximum permitted principal amount, if larger) of the indebtedness, obligation or other liability guaranteed or supported thereby.

  • Hedging Liabilities means the Liabilities owed by any Debtor to the Hedge Counterparties under or in connection with the Hedging Agreements.