Combined Ratio. Borrower shall not permit the Combined Ratio, determined as at the last day of any fiscal quarter of Borrower, to be greater than 103%.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Hallmark Financial Services Inc), Credit Agreement (Hallmark Financial Services Inc)
Combined Ratio. Borrower shall not permit the Combined Ratio, determined Ratio to be greater than 100% as at the last day of any fiscal quarter of Borrower, to be greater than 103%.
Appears in 1 contract
Samples: Credit Agreement (Gainsco Inc)
Combined Ratio. Borrower shall not permit the Combined Ratio, determined as at the last day of any fiscal quarter of Borrower, to be greater than 103(a) 102%, with respect to any fiscal quarter of Borrower ended on or before September 30, 2011, or (b) 100%, with respect to any fiscal quarter of Borrower beginning on or after October 1, 2011.
Appears in 1 contract
