Example ContractsClausesAdjusted Tangible Net Worth
Adjusted Tangible Net Worth
Adjusted Tangible Net Worth contract clause examples

Adjusted Tangible Net Worth. (A) PMC shall maintain an Adjusted Tangible Net Worth on a consolidated basis of at least $150,000,000; (B) POP shall maintain an Adjusted Tangible Net Worth on a consolidated basis of at least $700,000,000; and (C) Guarantor shall maintain an Adjusted Tangible Net Worth on a consolidated basis of at least $860,000,000.

Adjusted Tangible Net Worth” shall mean, with respect to any Person, the excess of total assets (net of goodwill and intangible assets), which shall include the value of mortgage servicing rights in an amount equal to the lesser of (i) an amount calculated in accordance with GAAP or (ii) the MSR Value Cap, of such Person, over total liabilities of such Person, determined in accordance with GAAP.

Adjusted Tangible Net Worth” has the meaning assigned to such term in the Pricing Side Letter.

Adjusted Tangible Net Worth” has the meaning set forth in the Pricing Side Letter.

Adjusted Tangible Net Worth. (A) PMC shall maintain an Adjusted Tangible Net Worth of at least $150,000,000, (B) Holdings shall maintain an Adjusted Tangible Net Worth of at least $250,000,000, and (C) Guarantor shall maintain an Adjusted Tangible Net Worth of at least $860,000,000.

Adjusted Tangible Net Worth” has the meaning assigned to such term in the Pricing Side Letter.

Adjusted Tangible Net Worth. On the Effective Date, Seller’s and Guarantor’s Adjusted Tangible Net Worth are not less than the amounts set forth in Section 14.dd(1) hereof.

Adjusted Tangible Net Worth. On the Closing Date, each Borrower Party’s Adjusted Tangible Net Worth are not less than the amounts set forth in Section 7.01(w)(i) hereof.

Adjusted Tangible Net Worth” shall mean, with respect to any Person, the excess of total assets (net of goodwill and intangible assets), which shall include the value of mortgage servicing rights in an amount equal to the lesser of (i) an amount calculated in accordance with GAAP or (ii) the MSR Value Cap, of such Person, over total liabilities of such Person, determined in accordance with GAAP.”

Adjusted Tangible Net Worth. (A) Seller shall maintain an Adjusted Tangible Net Worth of at least $700,000,000, and (B) Guarantor shall maintain an Adjusted Tangible Net Worth of at least $860,000,000.

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