Common use of ACCOUNTS PAYABLE TO INVENTORY RATIO Clause in Contracts

ACCOUNTS PAYABLE TO INVENTORY RATIO. Permit the ratio of the amount of Accounts Payable to the value of Inventory of the Borrower (valued on a first in - first out basis at the lower of cost or market calculated on the retail method in accordance with GAAP and shown on the Borrower's financial statements), expressed as a percentage, at the end of each month in any year set forth below to be less than the percentage specified opposite such month: Month Minimum Percentage ----- ------------------ January 32.5% February 37.5% March 37.5% April 37.5% May 37.5% June 37.5% July 37.5% August 42.5% September 42.5% October 42.5% November 42.5% December 37.5%

ACCOUNTS PAYABLE TO INVENTORY RATIO. Permit the ratio of the ----------------------------------- amount of Accounts Payable to the value of Inventory of the Borrower (valued on a first in - first out basis at the lower of cost or market calculated on the retail method in accordance with GAAP and shown on the Borrower's financial statements), expressed as a percentage, at the end of each month in any year set forth below to be less than the percentage specified opposite such month: Month Minimum Percentage ----- ------------------ January 32.537.0% February 37.540.0% March 37.540.0% April 37.540.0% May 37.540.0% June 37.540.0% July 37.540.0% August 42.5% September 42.5% October 42.5% November 42.5% December 37.540.0%

ACCOUNTS PAYABLE TO INVENTORY RATIO. Permit the ratio of the amount of Accounts Payable to the value of Inventory of the Borrower (valued on a first in - first out basis at the lower of cost or market calculated on the retail method in accordance with GAAP and shown on the Borrower's financial statements), expressed as a percentage, at the end of each month in any year set forth below to be less than the percentage specified opposite such month: Month Minimum Percentage ----- ------------------ MONTH MINIMUM PERCENTAGE January 32.537.0% February 37.540.0% March 37.540.0% April 37.540.0% May 37.540.0% June 37.540.0% July 37.540.0% August 42.5% September 42.5% October 42.5% November 42.5% December 37.540.0%