Effective Tangible Net Worth means the Borrower’s stated net worth plus Subordinated Debt but less all intangible assets of the Borrower (i.e., goodwill, trademarks, patents, copyrights, organization expense, and similar intangible items including, but not limited to, investments in and all amounts due from affiliates, officers or employees).

Effective Tangible Net Worth means the Borrower's stated net worth plus Subordinated Debt but less all intangible assets of the Borrower (i.e., goodwill, trademarks, patents, copyrights, organization expense and similar intangible items).

Effective Tangible Net Worth means the Borrower's stated net worth less all its intangible assets (i.e., goodwill, trademarks, patents, copyrights, organization expense and similar intangible items) but including leaseholds and leasehold improvements and plus indebtedness subordinated (by its terms or by written agreement) to indebtedness owed by the Borrower to the Bank and the term "debt" shall mean all of the Borrower's liabilities excluding indebtedness subordinated (by its terms or by written agreement) to indebtedness owed by the Borrower to the Bank.

Examples of Effective Tangible Net Worth in a sentence

Effective Tangible Net Worth not at any time less than $30,000,000, with compliance determined on a quarterly basis.
The Borrower promises and agrees, during the term of this Agreement and until payment in full of all of the Borrower’s Obligations, the Borrower will maintain at all times: (i) Liquid Assets of not less than $7,000,000.00 (ii) A minimum Effective Tangible Net Worth of at least $25,000,000.00.
As of September 30, 2021 the outstanding balance is $8,000,000 This loan is subject to certain financial covenants such as a Fixed Charge Coverage Ratio and Debt to Effective Tangible Net Worth.
As amended, interest is payable at one-month LIBOR plus 9.30% for any period during which the ratio of Indebtedness (as defined in the Term Loan Agreement) on a consolidated basis to Effective Tangible Net Worth (as defined in the Term Loan Agreement) is greater than 1.75:1.00 or the one-month LIBOR plus 6.30% for any other period, in each case reset on a periodic basis as provided in the Term Loan Agreement.
A minimum Effective Tangible Net Worth of at least $50,000,000.00.

More Definitions of Effective Tangible Net Worth

Effective Tangible Net Worth means at any date as of which the amount thereof shall be determined, the financial statement net worth of Borrower, plus, without duplication, (a) Subordinated Debt, and (b) any imputed dividend received from any Subsidiary, minus, without duplication, (i) intangible assets such as goodwill, and (ii) Investments in Subsidiaries, all as determined in accordance with GAAP.

Effective Tangible Net Worth means net worth as determined in accordance with GAAP consistently applied, increased by Subordinated Debt, if any, and decreased by the following: patents, licenses, goodwill, subscription lists, organization expenses, trade receivables converted to notes, money due from Affiliates (including officers, directors, subsidiaries and commonly held companies).

Effective Tangible Net Worth means, on a consolidated basis, the total assets (exclusive of goodwill, patents, trademarks, trade names, copyrights, organization expense, investments in and all amounts due from Affiliates, officers, or employees), less total liabilities (less Indebtedness subordinated to the Notes, if any) of the Company and its subsidiaries in accordance with GAAP.

Effective Tangible Net Worth means for any Person at any date the sum of (a) Tangible Net Worth plus (b)

Effective Tangible Net Worth means stockholders’ equity, less Intangible Assets.