Net Deficit definition

Net Deficit means the debit balance which would be obtained by combining the commodity margin balance of any person with the net profit or loss, if any, accruing on the open trades or contracts or commodity option transactions of such person;

Net Deficit means, as applicable, either (i) if the Closing Net Working Capital Surplus is less than the Closing Cash Deficiency, the amount, if any, by which (1) the Closing Cash Deficiency exceeds (2) the Closing Net Working Capital Surplus or (ii) if there is a Closing Net Working Capital Deficit, an amount, if any, equal to the greater of (1) the Closing Net Working Capital Deficit or (2) the Closing Cash Deficiency.

Net Deficit means a negative shareholder's equity, as calculated in accordance with generally accepted accounting principles and consistently applied using the accounting treatment historically used by XLI.

Examples of Net Deficit in a sentence

• Permit a Consolidated Net Deficit for any fiscal quarter to be equal to or greater than $8,000,000.

• Permit a Consolidated Net Deficit as of the end of any fiscal year.

• Compliance shall be determined as of the end of each month, except as otherwise specifically provided below: MAXIMUM TANGIBLE NET DEFICIT: Borrower shall maintain a Tangible Net Deficit of not more than $22,000,000.

• If the reconciliation results in a Net Deficit in excess of the Reserve Fund available to offset such Net Deficit, Provider shall have thirty (30) days from the receipt of the reconciliation to pay Plan the portion of such Net Deficit not covered by the Reserve Fund.

• If the audit performed pursuant to Section 9.1 (Post-Closing Audit) establishes that the Net Deficit of XLI as of the date of the Closing Balance Sheet is greater than Eight Hundred Twenty-Five Thousand Dollars ($825,000) then the amounts otherwise payable under Section 2.6 above (Payment of Contingent Cash) shall be reduced by the amount of such shortfall (a "CONTINGENT CASH ADJUSTMENT").

More Definitions of Net Deficit

Net Deficit if any, shall mean the excess of the Consolidated Closing Debt over the Consolidated Closing Cash.

Net Deficit means the total assets of the Acquired Corporations minus the total liabilities of the Acquired Corporations, in each case on a consolidated basis, which total liabilities will include, without limitation, any current liabilities, long term liabilities, redeemable preferred stock, and any other commitments and contingencies requiring accrual in accordance with generally accepted accounting principles.

Net Deficit means the quarterly sum of the

Net Deficit. A Net Deficit shall arise when the funds of the Partnership are insufficient to pay (i) all expenses relating to the development and construction of the Project, (ii) all expenses relating to the sale, operation, marketing and management of the Project actually incurred and currently due by the Partnership, including, without limitation, insurance, real estate taxes, utilities, salaries, costs of maintenance, cleaning, and costs of repairs, (iii) current debt service payments and similar obligations of the Partnership in respect of the Project or the Partnership and (iv) satisfying any current indebtedness of the Partnership (whether secured or unsecured).

Net Deficit means the excess, if any, of CSI's Consolidated Closing Debt over CSI's Consolidated Closing Cash, in each case as set forth in the Estimated Closing Statement described in Section 4.13 of the Acquisition Agreement.

Net Deficit means the excess, if any, of (x) the sum of the amounts described in Section 3.9(b)(II) and Section 3.9(b)(IV) through (IX) over (y) the total current assets (i.e., cash, cash equivalents and accounts receivable) of the Companies, the amount of such current assets and the current liabilities described in subclause (VI) being calculated in accordance with GAAP (provided that the only accounts receivable of the Companies includable therein shall be Creditable Accounts Receivable, which shall be valued at their net realizable value in accordance with GAAP, but with no reserve or other offset in respect of possible

Net Deficit means the amount by which the liabilities of the Company exceed its assets.