Debt to Tangible Net Worth. The ratio of Debt (including, without limitation, Debt represented by the Note) to Tangible Net Worth of Holdings and its Subsidiaries on a consolidated basis will not exceed 5.5:1 as at the end of any Fiscal Quarter. For the purposes of calculating this ratio, the term "Debt" shall not include any debts with respect to which the creditor does not have recourse to any Borrower or any of its respective assets. Calculation:
Appears in 2 contracts
Samples: Credit Agreement (MLC Holdings Inc), Credit Agreement (Eplus Inc)
Debt to Tangible Net Worth. The ratio of Debt (including, without limitation, Debt represented by the Note) to Tangible Net Worth of Holdings and its Subsidiaries on a consolidated basis will not exceed 5.5:1 as at the end of any Fiscal Quarter. For the purposes of calculating this ratio, the term "Debt" shall not include any debts with respect to which the creditor does not have recourse to any Borrower or any of its respective assets. Calculation:.
Appears in 1 contract
Samples: Credit Agreement (MLC Holdings Inc)
Debt to Tangible Net Worth. The ratio of Debt (including, without ---------------------------------- limitation, Debt represented by the Note) to Tangible Net Worth of Holdings and its Subsidiaries on a consolidated basis will not exceed 5.5:1 as at the end of any Fiscal Quarter. For the purposes of calculating this ratio, the term "Debt" shall not include any debts with respect to which the creditor does not have recourse to any Borrower or any of its respective assets. Calculation:.
Appears in 1 contract
Samples: Credit Agreement (Eplus Inc)
