Fail to maintain. Current Ratio. A ratio of Consolidated Current Assets divided by Consolidated Current Liabilities of at least 1.0:1.0, measured on a fiscal quarter-end basis; and
Fail to maintain. Net Worth. Net Worth of at least the applicable amount set forth below as of each date set forth below: Date Net Worth The last day of the 1997 (-$14,000,000) fiscal year The last day of the first (-$14,000,000) quarter of the 1998 fiscal year The last day of the second (-$14,000,000) quarter of the 1998 fiscal year The last day of the third (-$13,800,000) quarter of the 1998 fiscal year The last day of the fourth (-$13,500,000) quarter of the 1998 fiscal year The last day of the first (-$13,200,000) quarter of the 1999 fiscal year The last day of the second (-$12,900,000) quarter of the 1999 fiscal year The last day of the third (-$12,500,000) quarter of the 1999 fiscal year The last day of the fourth (-$12,000,000) quarter of the 1999 fiscal year and the last day of each fiscal quarter thereafter
Fail to maintain. Current Ratio. A ratio of Consolidated Current Assets divided by Consolidated Current Liabilities of at least .25: 1.0, measured on a fiscal quarter-end basis; Tangible Net Worth. Tangible Net Worth of at least ($9,000,000), measured on a fiscal quarter-end basis;
Fail to maintain. For the prior three (3) months for the period ending June 30, 2000, EBITDA equal to or greater than negative One Million Three Hundred Thousand Dollars (-$1,300,000);
Fail to maintain. Tangible Net Worth. Tangible Net Worth of at least (i) negative $3,200,000 as of the last day of the fiscal quarter ending on the Sunday closest to December 31, 1998, (ii) negative $3,200,000 as of the last day of the fiscal quarter ending on the Sunday closest to March 31, 1999, (iii) negative $350,000 as of the last day of the fixxxx xxxxxxx xxxxxx on the Sunday closest to June 30, 1999, and (iv) $700,000 as of the last day of the fiscal quarter ending on the Sunday closest to September 30, 1999. For each fiscal quarter ending after the Sunday closest to September 30, 1999, Companies shall maintain Tangible Net Worth at a level to be determined by Foothill, which level will be based on Companies' projections (but in no event will Tangible Net Worth as of the last day of any such fiscal quarter be less than $700,000);
Fail to maintain. Tangible Net Worth. Tangible Net Worth of at least $13,000,000 measured on a fiscal quarter-end basis commencing with Borrower's fiscal quarter ending November ___, 2001.
Fail to maintain. Minimum EBITDA. EBITDA, measured on a fiscal month-end basis, of not less than the required amount set forth in the following table for the applicable period set forth opposite thereto; Tangible Net Worth. Tangible Net Worth of at least the required amount set forth in the following table as of the applicable date set forth opposite thereto: Excess Availability. Excess Availability of not less than the amount set forth in the following table for the applicable period set forth opposite thereto: Equipment. Appraised value that is estimated to be recoverable in an orderly liquidation of Borrowers' Equipment of not less than the amount set forth in the following table for the applicable period set forth opposite thereto: Make: Capital Expenditures. Capital expenditures in any fiscal year or other applicable period in excess of the amount set forth in the following table for the applicable period: Fiscal Year 2002 Fiscal Year 2003 6 Month Period Ending June 30, 2004 $3,200,000 $4,200,000 $2,100,000
Fail to maintain. Tangible Net Worth of at least the following amounts as of the dates specified below: Quarter Ending Minimum Tangible Net Worth -------------- -------------------------- March 31, 2001 $ 57,944.000 June 30, 2001 $ 58,031,000 September 30, 2001 $ 61,066,000 December 31, 2001 $ 66,563,000 March 31, 2002 $ 69,580,000 June 30, 2002 $ 73,067,000 September 30, 2002 $ 77,604,000 December 31, 2002 $ 83,546,000 March 31, 2003 $ 87,913,000 47 June 30, 2003 $ 92,635,000 September 30, 2003 $ 97,211,000 December 31, 2003 $102,714,000
Fail to maintain. Operating Income. Operating Income of at least the following amounts, measured on a cumulative basis for the period from the beginning of a calendar year to each calendar quarter end set forth below: 3/31/98 ($5,500,000) 6/30/98 ($7,375,000) 9/30/98 ($7,425,000) 12/31/98 ($5,090,000) provided that, thereafter, upon receipt of the financial projections required to be delivered to Foothill pursuant to Section 6.3 (fourth paragraph) hereof for each fiscal year, the Borrower and Foothill shall negotiate in good faith to determine the minimum Operating Income as of the end of each fiscal quarter covered by such financial projections and, in the event that the Borrower and Foothill are unable to agree upon the amounts of such Operating Income on or before the date that is 30 days after the date that Foothill has received such projections, the Operating Income at the end of each fiscal quarter of the fiscal year covered by such financial projections shall not be less than the amount set forth for the corresponding fiscal quarter end set forth above plus 10% of such amount.
Fail to maintain. (i) as of the end of each fiscal quarter during the period commencing on the Closing Date and ending November 30, 2001, trailing twelve month Borrowing Base EBITDA of at least $7,500,000; and (ii) as of the end of each fiscal quarter during the period beginning with February 28, 2002 and each fiscal quarter thereafter, trailing twelve month Borrowing Base EBITDA of at least $8,500,000.
