Tangible Capital mean Tangible Net Worth plus Subordinated Debt. The words "Tangible Net Worth" mean Borrower's total assets excluding all intangible assets (i.e., goodwill, trademarks, patents, copyright, organizational expenses, and similar intangible items, but including leaseholds and leasehold improvements) less Total Debt. The words "Total Debt" mean all of Borrower's liabilities including Subordinated Debt. The words "Subordinated Debt" mean indebtedness and liabilities of Borrower which have been subordinated by written agreement to indebtedness owned by Borrower to Lender in form and substance acceptable to Lender.

Tangible Capital means, at any time the same is to be determined, for any Banking Subsidiary, Net Worth of such Banking Subsidiary minus intangible assets of such Banking Subsidiary (excluding, however, from the determination of intangible assets investments of such Banking Subsidiary in any of its real estate subsidiaries to the extent characterized as an intangible asset).

Tangible Capital has the meaning ascribed to such term in Section 7.3.

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.

More Definitions of Tangible Capital

Tangible Capital means the amount equal to total shareholders’ equity, plus Funded Debt, less the value of intangible assets, all of the foregoing to be determined in accordance with the financial statements and reports provided to Lender, which are to be prepared in accordance with GAAP.

Tangible Capital means Tangible Net Worth plus Subordinated Debt. "Tangible Net Worth" means Borrower's total assets excluding all intangible assets (i.e., goodwill, trademarks, patents, copyrights, organizational expenses, and similar intangible items, but including leaseholds and leasehold improvements) less Total Debt. "Total Debt" means all of Borrower's liabilities including Subordinated Debt. "Subordinated Debt" means indebtedness and liabilities of Borrower which have been subordinated by written agreement to indebtedness owed by Borrower to Lender in form and substance acceptable to Lender.

Tangible Capital shall be determined in accordance with GAAP and shall mean the (i) total capital of the Target Companies (excluding accumulated comprehensive income) on a consolidated basis minus (ii) (A) goodwill and core deposit intangible balances of Target Companies on a consolidated basis and (B) all Target expenses related to the Merger, including legal fees, accounting fees, investment banking fees, printing charges, costs incurred in terminating existing data processing contracts and success fee, change of control or similar payments required to be made to employees as a result of the consummation of the Merger.

Tangible Capital has the meaning defined in Section 5.13.