Debt to Worth Ratio. Borrower will maintain, at all times, to be tested quarterly on the last day of each fiscal quarter of Borrower, a ratio of (a) total liabilities (excluding any Subordinated Debt), to (b) Tangible Net Worth of not greater than 1.75 to 1.0.
Appears in 3 contracts
Samples: Loan Agreement (Pioneer Drilling Co), Loan Agreement (Pioneer Drilling Co), Loan Agreement (Pioneer Drilling Co)
Debt to Worth Ratio. Borrower will maintain, at all times, to be tested quarterly on the last day of each fiscal quarter of Borrower, a ratio of (a) total liabilities (excluding any Subordinated Debt), Debt to (b) Tangible Net Worth of not greater than 1.75 1.00 to 1.0.
Appears in 1 contract
Samples: Loan Agreement (Pioneer Drilling Co)
