Worthless definition

Worthless means a fixed asset that has no value or its value is de minimis and the cost of disposing by means of sale, trade, or other process would be more than the revenue received for the item.

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Worthless means the business has been deemed insolvent as determined by WEDC and by evidence of identifiable events, such as a cessation of business, dissolution, distribution or a sale of substantially all of the company's assets to repay outstanding debts, pay bankruptcy or receivership filings, or to make minimal equity distributions.

Worthless is “hebel” and means “wind” and “emptiness.”

Examples of Worthless in a sentence

• Worthless, invalid or non-transferable securities subject to removal may include, but are not limited to, securities with revoked registration, or those issued by an entity that is bankrupt, dissolved or has had its charter revoked.

• For federal income tax purposes, after the Effective Date Xcel or its Affiliates shall claim the Worthless Stock Deduction for the Loss Year.

• Neither Xcel nor any of its Affiliates shall claim the Worthless Stock Deduction for any year before the Loss Year.

• Neither Xcel nor any Xcel Affiliated Company shall claim the Worthless Stock Deduction for any tax year prior to the tax year in which the Effective Date occurs.

• Worthless, invalid or non­transferable securities subject to removal may include, but are not limited to, securities with revoked registration, or those issued by an entity that is bankrupt, dissolved or has had its charter revoked.

• Defense Worthless Stock Loss Issue defended by a SRA stockholder representative using counsel/advisers of its choice.

• The deduction arising from the Worthless Stock Deduction shall be a post-unitary item (as between Xcel and NRG).

• Any returned check, not paid in full within 48 hours of notice, will be turned over to the Solicitor's Worthless Check program for collection.

• To the extent that the displaced Tax credits produce a Tax Benefit for Xcel in a Tax year or years after the year with respect to which Xcel claims the Worthless Stock Deduction, Xcel shall pay NRG an amount equal to the Tax Benefit within ten business days of realization thereof.

• NRG and its affiliates shall take all reasonable actions (and permit and assist GenOn and its subsidiaries in taking any reasonable actions) requested by the GenOn Steering Committee to implement and effectuate any Exit Transaction in a manner that minimizes any adverse tax consequences to Reorganized GenOn, its affiliates (and successors and owners) or any GenOn Acquiring Entity (including any potential adverse tax consequences of claiming the Worthless Stock Deduction), and the Plan shall so provide.

More Definitions of Worthless

Worthless as used in this policy means a fixed asset that has no value or such little value that the cost of disposing by means of sale, trade, or other process would be more than the revenue received for the item.

Worthless in this context means no profitable uses exist after the regula - tion. A significant reduction in value may not entitle the landowner to

Worthless means lacking value.