Debt to Tangible Net Worth. A ratio of total liabilities to tangible net worth of not greater than 2:1. In the event that this ratio exceeds 1.6:1, then the interest rate shall increase by .40% as set forth in the Renewal and Additional Advance Promissory Note.
Appears in 2 contracts
Samples: Loan Agreement (Goldfield Corp), Loan Agreement (Goldfield Corp)
Debt to Tangible Net Worth. A ratio of total liabilities to tangible net worth of not greater than 2:12.25:1. In the event that this ratio exceeds 1.6:11.6:1 (tested on consolidated financial statements on a quarterly basis), then the interest rate shall increase by .40% as set forth in the Renewal and Additional Advance Promissory NoteNote(s).
Appears in 1 contract
Debt to Tangible Net Worth. A ratio of total liabilities to tangible net worth of not greater than 2:12.25:1. In the event that this ratio exceeds 1.6:11.6:1 (tested on consolidated audited financial statements), then the interest rate shall increase by .40% as set forth in the Renewal and Additional Advance Promissory Note.
Appears in 1 contract
Samples: Loan Agreement (Goldfield Corp)
Debt to Tangible Net Worth. A ratio of total liabilities to tangible net worth of not greater than 2:12.25:1. In the event that this ratio exceeds 1.6:1, then the interest rate shall increase by .40% as set forth in the Renewal and Additional Advance Promissory Note.
Appears in 1 contract
Samples: Loan Agreement (Goldfield Corp)
