Debt/equity ratios Sample Clauses

Debt/equity ratios. (i) The Company and its Affiliates controlled by it, on a consolidated basis, will be financed and managed so that, for the Company, at the operational start-up date of the Alliance the consolidated debt of the Company will not exceed forty percent (40%) of the sum of the Company's consolidated debt and the Company's consolidated shareholders' equity (the "debt to debt plus equity ratio"). (ii) Subject to Article 6.2 paragraph (iii), following the operational start-up date of the Alliance the debt to debt plus equity ratio will not exceed forty percent (40%), save that temporary fluctuations above this level will be permitted provided that the Company has a plan to reduce its debt to debt plus equity ratio to forty percent (40%) or below within nine (9) months. If the debt to debt plus equity ratio exceeds forty percent (40%) for a continuous period in excess of nine (9) months, then the Parties will proceed to issue Equity Capital as provided in Article 6.3(i)(C). (iii) For a five year period commencing on the date of the Amendment No. 3 to this Shareholders Agreement (the "AMENDMENT NO. 3") and ending on the day immediately prior the fifth anniversary of the date of the Amendment No. 3, the debt to debt plus equity ratio may exceed forty percent (40%) but may not exceed fifty percent (50%), save that temporary fluctuations above fifty percent (50%) will be permitted provided that the Company has a plan to reduce its debt to debt plus equity ratio to fifty percent (50%) or below within nine (9) months or, if earlier, prior to the end of such five year period. If the debt to debt plus equity ratio exceeds fifty percent (50%) for a continuous period in excess of nine (9) months, then the Parties will proceed to issue Equity Capital as provided in Article 6.3(i)(C).
Sample 1
AutoNDA by SimpleDocs
Debt/equity ratios. The Company and its Affiliates controlled by it, on a consolidated basis, will be financed and managed so that, for the Company, at the operational start-up date of the Alliance, the consolidated debt of the Company will not exceed forty percent (40%) of the sum of the Company's consolidated debt and the Company's consolidated shareholders' equity ("debt to debt plus equity ratio"); thereafter the threshold debt to debt plus equity ratio level will be forty percent (40%), above which temporary fluctuations will be permitted, provided, however, that the Company has a plan to reduce its debt to debt plus equity ratio to forty percent (40%) or below within nine (9) months. If the debt to debt plus equity ratio set out above is exceeded for a continuous period in excess of nine (9) months, then the Parties will proceed to issue Equity Capital as provided in Article 6.3(i)(C). For the purpose of Articles 6.2 and 6.3, the term "debt" shall mean borrowing from banks and shareholders and long-term financial lease obligations.
Sample 1

Related to Debt/equity ratios

  • Debt to Capitalization Ratio As of the last day of each fiscal quarter of the Borrower, the Debt to Capitalization Ratio shall be less than or equal to 0.70 to 1.0.

  • Liquidity Ratio A Liquidity Ratio of at least 1.50 to 1.00.

  • Equity Capitalization As of the date hereof, the authorized capital stock of the Company consists of (x) 30,000,000 shares of Common Stock, of which as of the date hereof, 10,964,602 shares are issued and outstanding, 2,529,378 shares are reserved for issuance pursuant to the Company’s employee incentive plan and other options and warrants outstanding and no shares are reserved for issuance pursuant to securities (other than the Warrants) exercisable or exchangeable for, or convertible into, shares of Common Stock, and (y) 10,000,000 shares of preferred stock, of which as of the date hereof, none are issued and outstanding. All of such outstanding shares have been, or upon issuance will be, validly issued and are fully paid and nonassessable. Except as set forth above in this Section 3(p): (i) none of the Company’s capital stock is subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company; and (ii) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company, or contracts, commitments, understandings or arrangements by which the Company is or may become bound to issue additional capital stock of the Company or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company; (iii) there are no outstanding debt securities, notes, credit agreements, credit facilities or other agreements, documents or instruments evidencing Indebtedness of the Company or by which the Company is or may become bound; (iv) there are no financing statements securing obligations in any material amounts, either singly or in the aggregate, filed in connection with the Company; (v) there are no agreements or arrangements under which the Company is obligated to register the sale of any of its securities under the 1933 Act (except pursuant to the Registration Rights Agreement); (vi) there are no outstanding securities or instruments of the Company which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company is or may become bound to redeem a security of the Company; (vii) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Securities; (viii) the Company does not have any stock appreciation rights or “phantom stock” plans or agreements or any similar plan or agreement; and (ix) the Company has no liabilities or obligations required to be disclosed in the SEC Documents but not so disclosed in the SEC Documents, other than those incurred in the ordinary course of the Company’s business and which, individually or in the aggregate, do not or would not have a Material Adverse Effect. The Company has furnished or made available to the Buyers true, correct and complete copies of the Company’s Certificate of Incorporation, as amended and as in effect on the date hereof (the “Certificate of Incorporation”), and the Company’s Bylaws, as amended and as in effect on the date hereof (the “Bylaws”), and the terms of all securities convertible into, or exercisable or exchangeable for, shares of Common Stock and the material rights of the holders thereof in respect thereto.

  • Funded Debt to EBITDA Ratio To maintain on a consolidated basis a ratio of Funded Debt to EBITDA not exceeding 2.0:1.0.

  • Debt to EBITDA Ratio Maintain, as of the end of each fiscal quarter, a ratio of (i) Debt, excluding Debt in respect of Hedge Agreements, as of such date to (ii) Consolidated EBITDA of the Company and its Consolidated Subsidiaries for the period of four fiscal quarters most recently ended, of not greater than 4.0 to 1.0.

  • Debt Ratio Permit the Debt Ratio at the last day of any fiscal quarter to be greater than the ratio set forth below opposite the fiscal quarter during which such fiscal quarter occurs: Fiscal Quarter Ending Ratio --------------------- ----- December 31, 1999 4.75 March 31, 2000 4.75 June 30, 2000 4.75 September 30, 2000 4.50 December 31, 2000 4.50 March 31, 2001 4.50 June 30, 2001 4.50 September 30, 2001 3.75 December 31, 2001 3.75 March 31, 2002 3.75 June 30, 2002 3.75 September 30, 2002 3.25 and thereafter

  • Cash Flow Leverage Ratio The Borrower will not permit the Cash Flow Leverage Ratio on the last day of any fiscal quarter to exceed 3.50 to 1.00.

  • Funded Debt Ratio Permit the Funded Debt Ratio, as of the last day of any Fiscal Quarter, to be greater than the ratio set forth below opposite such Fiscal Quarter or the period during which such Fiscal Quarter ends: Period/Fiscal Quarter Maximum Ratio December 31, 2002 3.50:1.00 March 31, 2003 2.60:1.00 June 30, 2003 2.50:1.00 September 30, 2003 2.00:1.00 December 31, 2003 through March 31, 2004 1.75:1.00 April 1, 2004 through December 31, 2004 1.50:1.00

  • Funded Debt to EBITDA Section 10.2 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

  • Debt Coverage Ratio Borrower shall not permit, as of the last day of any fiscal quarter of Borrower, the Debt Coverage Ratio to be less than 1.75 to 1.00.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!