Non-income-producing Assets definition
means, assets, investments or holdings that are intended to increase in value and which do not generate regular income.
Based on 7 documents
means any assets, rights or properties that do not provide any material revenue (including, for the avoidance of doubt, those that provide no revenue) for the owner or licensor thereof.
Based on 5 documents
means any Real Property Asset which, at the time such definition is utilized pursuant to any provision of this Agreement is (i) comprised of vacant land or (ii) under construction and not, either wholly or partially, open for business and operational.
Based on 1 documents
Examples of Non-income-producing Assets in a sentence
- Maintain at all times a ratio of Unencumbered Aggregate Adjusted Assets (excluding assets located outside of Canada, construction assets and other Non-Income Producing Assets (other than Non-Income Producing Assets specified in Section 6.3(d)) to Consolidated Unsecured Indebtedness (excluding Subordinated Indebtedness) of not less than 1.50:1.00.
Related to Non-income-producing Assets
- Operating Assets means all merchandise inventories, furniture, fixtures and equipment (including all transportation and warehousing equipment but excluding office equipment and data processing equipment) owned or leased pursuant to Capital Leases by the Company or a Restricted Subsidiary.
- Consolidated Assets means all assets which should be listed on the consolidated balance sheet of the Borrower and its Subsidiaries, as determined on a consolidated basis in accordance with GAAP.
- Current Assets of any Person means all assets of such Person that would, in accordance with GAAP, be classified as current assets of a company conducting a business the same as or similar to that of such Person, after deducting adequate reserves in each case in which a reserve is proper in accordance with GAAP.
- Consolidated Total Assets means, as of the date of any determination thereof, total assets of the Borrower and its Subsidiaries calculated in accordance with GAAP on a consolidated basis as of such date.
