Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter of the Borrower (commencing with December 31, 1997) on a consolidated basis a Leverage Ratio of not more than 0.75 to 1. As used herein, 'Leverage Ratio' means, as at any date when same is to be determined, the ratio of (x) the outstanding consolidated Adjusted Senior Debt of the Borrower and its Subsidiaries to (y) the Borrower's consolidated Capital Base at such date.
Debt to Worth. At Year End, the ratio of Borrower's Indebtedness to its Tangible Net Worth was ________ to __________.
Debt to Worth. The ratio of Customer's total debt to Customer's tangible net worth, determined as aforesaid, shall not at any time exceed 3.75 to 1.00.
Debt to Worth. A ratio of total liabilities to tangible net worth of not greater than 1.5 to 1.0.
Debt to Worth. Borrower to maintain a maximum Debt to Tangible Net Worth Ratio of 4.0X, measured quarterly on year to date basis. Debt to Tangible Net Worth is defined as Net Worth less Intangible Assets divided by Total Liabilities. Except as provided above, all computations made to determine compliance with the requirements contained in this paragraph shall be made in accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct. Loan No: 310036 BUSINESS LOAN AGREEMENT (Continued) Page 4 Insurance. Maintain fire and other risk insurance, public liability insurance, and such other insurance as Lender may require with respect to Borrower's properties and operations, in form, amounts, and coverages reasonably acceptable to Lender and by insurance companies authorized to transact business in Texas. BORROWER MAY FURNISH THE INSURANCE REQUIRED BY THIS AGREEMENT WHETHER THROUGH EXISTING POLICIES OWNED OR CONTROLLED BY BORROWER OR THROUGH EQUIVALENT COVERAGE FROM ANY INSURANCE COMPANY AUTHORIZED TO TRANSACT BUSINESS IN TEXAS. Borrower, upon request of Xxxxxx, will deliver to Lender from time to time the policies or certificates of insurance in form satisfactory to Lender, including stipulations that coverages will not be canceled or diminished without at least fifteen (5) days prior written notice to Lender. Each insurance policy also shall include an endorsement providing that coverage in favor of Lender will not be impaired in any way by any act, omission or default of Borrower or any other person. In connection with all policies covering assets in which Lender holds or is offered a security interest for the Loans, Borrower will provide Lender with such lender's loss payable or other endorsements as Lender may require.
Debt to Worth. The Borrower will maintain as at the last day of each fiscal quarter of the Borrower (each, a "Determination Date") (commencing with December 31, 1998) on a consolidated basis a Leverage Ratio which is equal to or less than 1.0 to 1. As used herein, "Leverage Ratio" means, as at any Determination Date, the ratio of (x) the total consolidated Senior Liabilities of the Borrower and/or its Subsidiaries then outstanding to (y) the Borrower's then consolidated Capital Base.
Debt to Worth. The Borrower shall maintain at all times ratio of consolidated Debt to consolidated tangible net worth of not less than 1.25:1.0.
Debt to Worth. A ratio of Consolidated Liabilities to Consolidated Tangible Net Worth of not greater than 1.8 to 1.
Debt to Worth. The Borrower will maintain as at the end of each fiscal quarter (commencing with its results as at June 30, 1994) on a consolidated basis a Leverage Ratio of not more than the following: not more than 2.5 to 1 as at each of June 30, 1994 and September 30, 1994; and not more than 1.25 to 1 as at December 31, 1994 and as at the end of each fiscal quarter thereafter. As used herein, "Leverage Ratio" means, as at any date when same is to be determined, the ratio of (x) the outstanding Senior Liabilities of the Borrower and/or its Subsidiaries to (y) the Borrower's consolidated Capital Base.
Debt to Worth. At Year End, the ratio of Borrower's Indebtedness to its Tangible Net Worth was ________ to 1.00.
