How is Gross Assets defined in a legal contract?
- Gross Assets means the total of fixed assets and current assets. Seen in 47 SEC filings
- Gross Assets means, when associated with a specified [party], the fair market value of the [party]'s assets that are free from any liabilities. Seen in 13 SEC filings
- Gross Assets means the total assets and properties of a [party] and its subsidiaries, less accumulated depreciation, as shown on the audited balance sheets. This is noted for the fiscal year-end immediately prior to the date of any determination. Seen in 10 SEC filings
- Gross Assets means the total value of the assets of the [party] as determined in accordance with a given [clause]. Seen in 7 SEC filings
- Gross Assets means the total value of the [party]'s assets, with those assets being revalued when the board has established a net asset value for the [party]’s assets. For clarity, this includes the value of the [party]'s real estate assets and liabilities, but disregards GAAP consolidation or equity method accounting principles. The value of Gross Assets is determined on a quarterly basis. Seen in 7 SEC filings
- Gross Assets means at any given date the sum of the consolidated Real Property Value of the Issuer and its Consolidated Subsidiaries, cash and all other assets, excluding intangible assets (like goodwill, patents, trademarks, trade names, copyrights, and franchises). Seen in 5 SEC filings
- Gross Assets means the sum of fixed assets and current assets according to the most recent audited annual accounts. Seen in 5 SEC filings
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Gross Assets means the complete aggregate of fixed and current assets.
Relevant Contract Types
Relevant Circumstances
- Establishing the value of a company for investment or purchase
- Calculation of net worth for loan approvals
- Dispute resolution involving assets
Relevant Sectors
Genie Definition 2
Gross Assets means the overall fair market value of a [party]'s assets without any liabilities.
Relevant Contract Types
Relevant Circumstances
- Financial health assessment
- Management of risk
Relevant Sectors
Genie Definition 3
Gross Assets means the total value of the assets minus the accumulated depreciation as per the audited annual accounts.
Relevant Contract Types
Relevant Circumstances
- Selling a business
- Auditing of assets for transparency
Relevant Sectors
Genie Definition 4
Gross Assets means sum of consolidated real property value, and all other assets excluding any intangible assets.
Relevant Contract Types
Relevant Circumstances
- Real estate transactions and investments
- Property mergers and acquisitions
Relevant Sectors
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Gross Assets means the complete aggregate of fixed and current assets.
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