Financial Compliance. The financial statements of the Consolidated Group referenced in Section 3.4(a) and evidence that as at December 31, 2018 determined on a consolidated basis in accordance with GAAP on a pro forma basis to give effect to the Indebtedness repaid and the Indebtedness incurred on the Effective Date (i) the Leverage Ratio of the Consolidated Group shall not be greater than 6.0 to 1.0, (ii) the Consolidated Tangible Net Worth of the Consolidated Group shall not be less than $47,500,000 and (iii) the Consolidated Working Capital of the Consolidated Group shall not be less than $110,000,000. The Borrower shall also deliver a certificate signed by a Responsible Officer certifying to and showing the calculations of Consolidated Group’s compliance with the requirements of this Section 4.1(h).
Appears in 2 contracts
Samples: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.), Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)
Financial Compliance. The financial statements of the Consolidated Group referenced in Section 3.4(a) and evidence that as at December 31, 2018 2015 determined on a consolidated basis in accordance with GAAP on a pro forma basis to give effect to the Indebtedness repaid and the Indebtedness incurred on the Effective Date (i) the Leverage Ratio of the Consolidated Group shall not be greater than 6.0 to 1.0, (ii) the Consolidated Tangible Net Worth of the Consolidated Group shall not be less than $47,500,000 35,000,000 and (iii) the Consolidated Working Capital of the Consolidated Group shall not be less than $110,000,00035,000,000. The Borrower shall also deliver a certificate signed by a Responsible Officer certifying to and showing the calculations of Consolidated Group’s compliance with the requirements of this Section 4.1(h4.1(i).
Appears in 1 contract
Samples: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)
