Financial condition of the Group Sample Clauses

Financial condition of the Group. At all times, the consolidated financial condition of the Group, as evidenced by financial statements and supplemental further information prepared in accordance with the provisions of Clause 20.5 (Accounting policies), shall be such that: (a) the ratio of EBITDA to Consolidated Interest Expenses shall be not less than 5:1, in respect of any four consecutive quarters of the Company; (b) the ratio of Net Consolidated Financial Debt at the end of any financial quarter of the Company to EBITDA for the four consecutive quarters of the Company ending at the end of such first mentioned quarter shall be equal to or less than 3.0:1. For the purpose of testing the ratios referred to in this Clause 20.6, each Obligor will deliver to the Agent, at the time it delivers the quarterly statements requested under Clause 20.2 (Financial information), a certificate of any one of its Financial Officers: (i) setting out the ratios and a brief description of the method of computation, together with such information as is required to support such certificate and computation; and (ii) confirming that no Default is outstanding, or if a Default is outstanding specifying the Default and the steps, if any being taken to remedy it. The ratios referred to in this Clause 20.6 shall be tested on the basis of accounts produced using the accounting policies, practices, procedures and reference period upon which the Original Financial Statements were prepared.
Sample 1
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Financial condition of the Group. The Borrower shall ensure and procure that: (a) the Liquidity will not, at any time, be less than US$50,000,000 (or its equivalent in another currency or currencies); (b) the ratio of Total Borrowings on each Test Date to EBITDA for the Test Period ending on that Test Date will not, exceed 2 to 1; and (c) the ratio of EBITDA to Interest and Tax Charges for each Test Period ending on a Test Date will not be less than 2 to 1.
Sample 1
Financial condition of the Group. (i) For the period after September 30, 2020, there has not been any change in the issued equity of the Group or in paid-in capital of the Company or any Subsidiary or any increase in the total consolidated liabilities and shareholders equity of the Company and its Subsidiaries or decrease in the consolidated net assets of the Company and its Subsidiaries, except as would not exceed twenty percent (20%) in each case. (ii) For the period after September 30, 2020, (A) there were no material decreases (as compared with the corresponding periods in the preceding year) in the net sales, gross profit, and operating income of the Company and its Subsidiaries, (B) there were no decreases (as compared with the corresponding periods in the preceding year) in unconsolidated net sales, unconsolidated gross profit, unconsolidated operating income and unconsolidated income from continuing operations before tax or increase (as compared with the corresponding periods in the preceding year) in unconsolidated income tax expense.
Sample 1
Financial condition of the Group. The Borrower shall ensure and procure that the financial condition of the Group shall, so long as any amount is outstanding under the Finance Documents or the Commitment is in force, be such that: (a) Consolidated Net Worth for each Test Period specified in Column 1 below will not be less than the amount set out in Column 2 corresponding to that Test Period: Column 1 Column 2 Test Period Consolidated Net Worth (b) the ratio of Consolidated Total Net Liabilities to Consolidated Net Worth for each Test Period will not exceed 1.5 to 1; and (c) the ratio of Consolidated Current Assets to Consolidated Current Liabilities for each Test Period will not be less than 1 to 1.
Sample 1
Financial condition of the Group. The Borrower shall ensure and procure that the financial condition of the Group shall, so long as any amount is outstanding under the Finance Documents or any Commitment is in force, be such that: (a) the Consolidated Tangible Net Worth for each Test Period shall not at any time be less than US$450 million; Table of Contents (b) the ratio of Consolidated Total Net Debt to Consolidated Tangible Net Worth for each Test Period will not exceed 2 to 1; and (c) the Consolidated Coverage Ratio for each Test Period shall not at any time be less than 2 to 1.
Sample 1
Financial condition of the Group. At all times, the consolidated financial condition of the Group, as evidenced by financial statements prepared in accordance with the provisions of Clause 17.5, shall be such that: (i) the ratio of EBITDA to Consolidated Interest Expenses shall be not less than 5:1, in respect of any four consecutive quarters of the Company; (ii) the ratio of Net Consolidated Financial Debt at the end of any quarter of the Company to EBITDA for the four consecutive quarters of the Company ending at the end of such first mentioned quarter shall be equal to or less than 3.5:1 until 31st December, 2000 and equal to or less than 3:1 thereafter, provided that: (A) references to four consecutive quarters shall not apply until four consecutive quarters as from 31st December, 1999 shall have elapsed, up until which the actual number of such consecutive quarters shall be taken and the ratio in (ii) shall be adjusted accordingly to take account of the shorter period for which EBITDA is computed; and (B) the quarter during which the acquisition of Olsten takes place shall, for the purposes of calculating the ratios referred to above, be calculated as if the acquisition of Olsten had taken place on the first day of that quarter. For the purpose of testing the ratios referred to in this Clause 17.6, each Obligor will deliver to the Agent, at the time it delivers the quarterly statements requested under Clause 17.2, a certificate of any one of its Financial Officers : (a) setting out the ratios and a brief description of the method of computation, together with such information as is required to support such certificate and computation; and (b) confirming that no Default is outstanding, or if a Default is outstanding specifying the Default and the steps, if any being taken to remedy it
Sample 1
Financial condition of the Group 
Sample 1Sample 2
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Related to Financial condition of the Group

  • Financial Condition of the Borrower The Loans may be made to the Borrower without notice to or authorization from any Guarantor regardless of the financial or other condition of the Borrower at the time of such grant. Each Guarantor has adequate means to obtain information from the Borrower on a continuing basis concerning the financial condition of the Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations.

  • Financial Condition (a) The unaudited pro forma consolidated balance sheet of Holdings and its consolidated Subsidiaries as at September 30, 2012 (the “Pro Forma Balance Sheet”), copies of which have heretofore been furnished to each Lender, has been prepared giving effect (as if such events had occurred on such date) to (i) the consummation of the Transactions, (ii) the Loans to be made on the Closing Date and the use of proceeds permitted under Section 8.15 thereof and (iii) the payment of fees and expenses on the Closing Date in connection with the foregoing. The Pro Forma Balance Sheet has been prepared based on the best information available to the Borrower as of the date of delivery thereof, and presents fairly in all material respects on a pro forma basis the estimated financial position of Holdings and its consolidated Subsidiaries as at September 30, 2012 assuming that the events specified in the preceding sentence had actually occurred at such date. (b) The audited consolidated balance sheets of the Borrower and its Subsidiaries as at December 31, 2011, and the related consolidated statements of income, stockholders’ equity and cash flows for the fiscal years ended on December 31, 2011, reported on by and accompanied by an unqualified report as to going concern or scope of audit from Ernst & Young, LLP, present fairly in all material respects the consolidated financial condition of the Borrower and its Restricted Subsidiaries as at such date, and the consolidated results of its operations and its consolidated cash flows for the respective fiscal years then ended. All such financial statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). No Group Member has, as of the Closing Date after giving effect to the Transactions and excluding obligations under the Loan Documents, any material Guarantee Obligations, contingent liabilities, or any long term leases or unusual forward or long term commitments, including any interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives, which are required in conformity with GAAP to be disclosed therein and which are not reflected in the most recent financial statements referred to in this paragraph.

  • Financial Conditions (a) The Recipient shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Recipient responsible for carrying out the Project or any part thereof. (b) The Recipient shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Bank; (ii) furnish to the Bank as soon as available, but in any case not later than six months after the end of each such year, the report of such audit by said auditors, of such scope and in such detail as the Bank shall have reasonably requested; and (iii) furnish to the Bank such other information concerning said records and accounts and the audit thereof as the Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the GEF Trust Fund Grant Account were made on the basis of statements of expenditure, the Recipient shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Bank has received the audit report for the fiscal year in which the last withdrawal from the GEF Trust Fund Grant Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Bank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

  • Financial Condition of Company Any Credit Extension may be made to Company or continued from time to time, and any Hedge Agreements may be entered into from time to time, in each case without notice to or authorization from any Guarantor regardless of the financial or other condition of Company at the time of any such grant or continuation or at the time such Hedge Agreement is entered into, as the case may be. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor's assessment, of the financial condition of Company. Each Guarantor has adequate means to obtain information from Company on a continuing basis concerning the financial condition of Company and its ability to perform its obligations under the Credit Documents and the Hedge Agreements, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of Company and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of Company now known or hereafter known by any Beneficiary.

  • Solvent Financial Condition Each of Borrower and its Subsidiaries is now and, after giving effect to the Loans to be made hereunder, at all times will be, Solvent.

  • Financial Condition Covenants The Borrower shall not:

  • Financial Condition Covenant Permit the Asset Coverage Ratio to be less than the Minimum Permitted Ratio; or in each case allow Indebtedness of the Borrower to exceed the limits set forth in the Borrower’s Prospectus or registration statement or allow Indebtedness to exceed the requirements of the 1940 Act.

  • Financial Condition of Borrower Any Credit Extensions may be made to Borrower or continued from time to time without notice to or authorization from any Guarantor regardless of the financial or other condition of Borrower at the time of any such grant or continuation. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of Borrower. Each Guarantor has adequate means to obtain information from Borrower on a continuing basis concerning the financial condition of Borrower and its ability to perform its obligations under the Loan Documents, and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of Borrower now known or hereafter known by any Beneficiary.

  • Guarantor’s Financial Condition As of the date hereof, and after giving effect to this Guaranty and the contingent obligation evidenced hereby, Guarantor is, and will be, solvent, and has and will have assets which, fairly valued, exceed its obligations, liabilities (including contingent liabilities) and debts, and has and will have property and assets sufficient to satisfy and repay its obligations and liabilities.

  • Investigation of Financial Condition Without in any manner reducing or otherwise mitigating the representations contained herein, Company shall have the opportunity to meet with Buyer's accountants and attorneys to discuss the financial condition of Buyer. Buyer shall make available to Company all books and records of Buyer.

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