Additional Duties of Borrower. Borrower will at all times comply with all of the following covenants throughout the term of this Agreement:
Additional Duties of Borrower. Each Obligor will at all times comply with all of the following covenants throughout the term of this Agreement:
Additional Duties of Borrower. Borrower will, and will procure that each other Obligor, at all times complies with all of the following covenants throughout the term of this Agreement on an “as if applicable to Obligor” basis:
Additional Duties of Borrower. Section 8.1 Other Provisions:
Additional Duties of Borrower. SECTION 8.1 OTHER PROVISIONS 1. Tangible net Worth Covenant: Borrowers shall have, measured as of the Closing Date and monthly thereafter, a Tangible Net Worth of no less than Ten Million Five Hundred Thousand Dollars ($10,500,000). Thereafter, Borrowers shall maintain a Tangible net Worth adjusted quarterly, of not less than the sum of (i) the prior period's minimum Tangible Net Worth, and (ii) eighty percent (80%) of Borrowers after tax net profits.
Additional Duties of Borrower. Section 8.1 - Other 1. Borrower shall at all times have a Tangible Net Worth of not less than Provisions and $6,250,000 from the Closing Date through and including September 29, 2000, Covenants: $6,500,000 from September 30, 2000 through and including December 30, 2000, $6,800,000 beginning December 31, 2000 and thereafter, increasing quarterly by 70% of Borrower's net income based on a trailing six months. In no event shall such increase exceed 70% of Borrower's net income on an annualized basis during any fiscal year of Borrower;
Additional Duties of Borrower. OTHER PROVISIONS: Borrowers shall maintain availability at times following the initial funding of not less than $150,000 until such time as Borrowers have demonstrated to the satisfaction of Coast that they have achieved a consolidated after tax quarterly net income of not less than $150,000, calculated in accordance with GAAP.
Additional Duties of Borrower. Insurance: Subject to the limitations set forth in Section 8.2 of the Agreement, Lender shall release to Borrower insurance proceeds with respect to Equipment totaling less than One Hundred Thousand Dollars ($100,000) in a single transaction subject to a yearly limitation of Two Hundred and Fifty Thousand Dollars ($250,000).
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Additional Duties of Borrower. SECTION 8.1 - OTHER PROVISIONS 1. All taxes shall be current at all AND COVENANTS: times.
