Amendment to Tangible Net Worth Covenant. Section 19.1 of the Porcelain Products Co. Subsidiary Loan Agreement shall be amended and restated in its entirety to read as follows: Borrower shall cause its Tangible Net Worth, as measured at the end of each calendar month, to equal or exceed the following amounts during the term of this Agreement: Period Amount ------ ------ April 1, 1997 through June 30, 1997 $6,500,000 July 1, 1997 through September 30, 1997 $6,500,000 October 1, 1997 through December 31, 1997 $6,500,000 January 1, 1998 through March 31, 1998 $7,000,000 April 1, 1998 through June 30, 1998 $7,000,000 July 1, 1998 through September 30, 1998 $7,000,000 October 1, 1998 through December 31, 1998 $7,000,000 Every Month Thereafter $7,000,000 plus an increase of $250,000 each January 1, commencing January 1, 1999
Amendment to Tangible Net Worth Covenant. Section 19.1 of the Waterbury Companies, Inc. Subsidiary Loan Agreement shall be amended and restated in its entirety to read as follows: Borrower shall cause its Tangible Net Worth, as measured at the end of each calendar month, to equal or exceed the following amounts during the term of this Agreement: Period Amount ------ ------ April 1, 1997 through June 30, 1997 $13,500,000 July 1, 1997 through September 30, 1997 $13,500,000 October 1, 1997 through December 31, 1997 $13,500,000 January 1, 1998 through March 31, 1998 $14,000,000 April 1, 1998 through June 30, 1998 $14,000,000 July 1, 1998 through September 30, 1998 $14,000,000 October 1, 1998 through December 31, 1998 $14,000,000 Every Month Thereafter $14,000,000 plus an increase of $500,000 each January 1, commencing January 1, 1999
Amendment to Tangible Net Worth Covenant. Section 18.3 of the Loan Agreement shall be amended by deleting the columns titled "Period" and "Amount" therein and replacing them in their entirety with the following: Period Amount ------ ------ April 1, 1997 through June 30, 1997 $1,000,000 July 1, 1997 through September 30, 1997 $1,000,000 October 1, 1997 through December 31, 1997 $1,000,000 Period Amount ------ ------ January 1, 1998 through March 31, 1998 $2,000,000 April 1, 1998 through June 30, 1998 $2,000,000 July 1, 1998 through September 30, 1998 $2,000,000 October 1, 1998 through December 31, 1998 $2,000,000 Every Month Thereafter $2,000,000 plus an increase of $1,000,000 each January 1, commencing January 1, 1999
Amendment to Tangible Net Worth Covenant. Section 7.1 of the Credit Agreement (Tangible Net Worth) is hereby amended by changing the figure "$95,000,000" to read "$125,000,000."
Amendment to Tangible Net Worth Covenant. Each of the Credit Agreements require the Borrower to maintain an excess of consolidated total tangible assets over consolidated total liabilities of the Borrower and the Subsidiaries as specified therein (the "Tangible Net Worth Covenants"). Effective as of the date hereof, each Tangible Net Worth Covenant is hereby amended in its entirety to read as follows: Tangible Net Worth. Maintain an excess of consolidated total tangible assets over consolidated total liabilities of
Amendment to Tangible Net Worth Covenant. Each of the Credit Agreements require the Borrower to maintain an excess of consolidated total tangible assets over consolidated total liabilities of the Borrower and the Subsidiaries as specified therein (the "Tangible Net Worth Covenants"). Effective as of the date hereof, each Tangible Net Worth Covenant is hereby amended in its entirety to read as follows: Tangible Net Worth. Maintain an excess of consolidated total tangible assets over consolidated total liabilities of the Borrower and the Subsidiaries in an amount not less than the amount set forth below for the applicable period set forth below:
Amendment to Tangible Net Worth Covenant. Effective as of ---------------------------------------- the date hereof, Section 11.2 of the Agreement is hereby amended to read in its entirety as follows:
Amendment to Tangible Net Worth Covenant. (a) Section 6.13 of the Loan Agreement is hereby amended and restated to read in full as follows:
Amendment to Tangible Net Worth Covenant. Section 8.8 is amended by (a) deleting the amount "$19,000,000" therein and substituting the amount "$30,000,000" therefor and (b) deleting the date "October 3, 1993" therein and substituting the date "October 4, 1998" therefor.
Amendment to Tangible Net Worth Covenant. Section 8.8 is amended and restated in its entirety to read as follows:
