AFFIRMATIVE COVENANTS So Sample Clauses

AFFIRMATIVE COVENANTS So long as any Bank shall have any Commitment hereunder, or any Loan or other Obligation shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, unless the Required Banks waive compliance in writing:

AFFIRMATIVE COVENANTS So long as the Loan shall remain unpaid, Guarantor and Borrower, and each of them will:

AFFIRMATIVE COVENANTS So long as Borrower may borrow hereunder and until payment in full of the Note and performance of all other obligations of Borrower hereunder, Borrower will: A. Working Capital and Tangible Net Worth In accordance with generally accepted accounting principles: (1) Maintain working capital of not less than $10,000.00 (2) Maintain a ratio of current assets to current liabilities of not less than 1. to 1. (3) Maintain tangible net worth of not less than $125,000.00 (4) Not permit its ratio of total liabilities to tangible net worth to be more than 1.5 to 1. (5) Maintain fixed charge coverage ratio not less than 1.3 to 1.0. (6) Maintain ratio of funded debt to EBIDA of maximum 3.6x. B. Financial Recordkeeping Maintain a system of accounting in accordance with generally accepted accounting principles. Unless written notice of another location is given to Lender, Borrower's books and records will be located at the following location: 2500 CityWest Blvd, Suite 2200, Houston, TX 77042. ▇. ▇▇▇▇▇▇▇▇▇ and Other Reporting (1) Furnish to Lender, year end CPA audited financial statements to include a balance sheet, operating statement and surplus reconciliation, together with an officer's certificate of compliance with this Agreement including computations of all quantitative covenants, within 90 days after the end of each annual accounting period. N/A (2) Furnish to Lender, quarterly audited financial statements, to include a balance sheet and profit and loss statement, together with an officer's certificate of compliance with this Agreement including computations of all quantitative covenants, within 30 days of the end of each such accounting period. (3) Promptly provide Lender with such additional information, reports or statements respecting its business operations and financial condition as Lender may reasonably request from time to time. D. Insurance Maintain insurance with responsible insurance companies on such of its properties, in such amounts and against such risks as is customarily maintained by similar businesses operating in the same vicinity, specifically to include a policy of fire and extended coverage insurance covering all assets, business interruption insurance and liability insurance, all to be with such companies and in such amounts satisfactory to Lender and to contain a mortgage clause naming Lender as its interest may appear. Evidence of such insurance will be supplied to Lender. E. Existence and Compliance with Laws As appropriate, maintain its ex...

AFFIRMATIVE COVENANTS So long as any of the Loans shall remain available to the Borrower, and until the principal of and interest on the Note and all fees, if any, due hereunder, if any, shall have been paid in full, the Borrower agrees that: