Examples of Tangible Capital in a sentence
Tangible Capital Costs are such costs that are not intangible capital costs incurred for the purchase of any assets related to the Petroleum Operations that normally have a useful life of more than one (1) Year; such assets shall be subject to annual depreciation pursuant to the provisions set forth in this Accounting Procedure.
For clarity, a Construction Completion Certificate will not be issued by the Municipality if the Developer fails to deliver all required testing records, record drawings, and Tangible Capital Assets information to the Municipality’s satisfaction.
Maintain, as of the last day of each fiscal quarter, a ratio of (a) Consolidated Total Liabilities of the Borrower and its Consolidated Subsidiaries plus the Contingent Liabilities of Selas SAS which are guaranteed by the Borrower, to (b) Consolidated Tangible Capital Funds of the Borrower and its Consolidated Subsidiaries, of not more than 2.50 to 1.0.
The Borrower shall maintain a minimum Tangible Capital Base of $5,700,000.00, measured quarterly, commencing as of September 30, 2021.
Annually, commencing with the financial statements delivered for the fiscal year ending December 31, 2022, the minimum Tangible Capital Base requirement shall increase by an amount equal to fifty percent (50%) of the sum of Borrower’s net income minus distributions.