Debt to Worth Ratio. Borrower shall maintain a ratio of Total Liabilities to Tangible Net Worth of no greater than 1.15:1.00. This covenant shall be monitored quarterly, and will commence with the fiscal quarter ending April 30, 2018. Sections 7.6.1 and 7.6.2 are not affected by this modification of Section 7.6. (c) Effective as of April 10, 2018, Section 7.7 of the Credit Agreement is replaced in its entirety by the following provision:
Appears in 2 contracts
Samples: Loan Modification Agreement, Loan Modification Agreement (Optical Cable Corp)
Debt to Worth Ratio. Borrower shall maintain a ratio of Total Liabilities to Tangible Net Worth of no greater than 1.15:1.000.95:1.00. This covenant shall be monitored quarterly, quarterly and will commence with the fiscal quarter ending April 30, 2018. Sections 7.6.1 and 7.6.2 are not affected by this modification of Section 7.62016.
(c) Effective as of April 10, 2018, Section 7.7 of the Credit Agreement is replaced in its entirety by the following provision:
Appears in 1 contract
Debt to Worth Ratio. Borrower shall maintain a ratio of Total Liabilities to Tangible Net Worth of no greater than 1.15:1.000.95:1.00. This covenant shall be monitored quarterly, and will commence with the fiscal quarter ending April 30October 31, 2018. Sections 7.6.1 and 7.6.2 are not affected by this modification of Section 7.6.
(cd) Effective as of April 10October 15, 2018, Section 7.7 of the Credit Agreement is replaced in its entirety by the following provision:
Appears in 1 contract
