TNW Merger Adjustment definition

TNW Merger Adjustment means the lesser of (a) an amount equal to the reduction in Tangible Net Worth resulting solely from the repurchase of outstanding common stock of the Servicer (or its successor in interest) for cash pursuant to that certain merger agreement, dated November 14, 2012, by and between the Servicer, BFC Financial Corporation, Woodbridge Holdings LLC and BXG Florida Corporation, and (b) $90,000,000.00.

Related to TNW Merger Adjustment