Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is greater than or equal to $750,000,000; (B) the combined amount of unrestricted cash of Guarantor and its Subsidiaries is greater than or equal to $40,000,000; (C) the ratio of Guarantor’s Total Indebtedness to Adjusted Tangible Net Worth is not greater than 5:1; and (D) Guarantor’s consolidated net income has been equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last fiscal quarter.”
Appears in 2 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is shall at all times be greater than or equal to $750,000,000; (B) the combined amount of combined unrestricted cash of Guarantor and its Subsidiaries is shall at all times be greater than or equal to $40,000,00030,000,000; and (C) the ratio of Guarantor’s Total total Indebtedness to Adjusted Tangible Net Worth is not greater shall at all times be less than 5:1; 3:1, and (D) Guarantor’s consolidated net income has been shall be equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last each fiscal quarter.”
Appears in 2 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is shall at all times be greater than or equal to $750,000,000300,000,000; (B) the combined amount of combined unrestricted cash of Guarantor and its Subsidiaries is shall at all times be greater than or equal to $40,000,00010,000,000; and (C) the ratio of Guarantor’s Total total Indebtedness to Adjusted Tangible Net Worth is not greater shall at all times be less than 5:1; 3:1, and (D) Guarantor’s consolidated net income has been shall be equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last each fiscal quarter.”
Appears in 2 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is greater than or equal to $750,000,000830,000,000; (B) the combined amount of unrestricted cash of Guarantor and its Subsidiaries is greater than or equal to $40,000,000; (C) the ratio of Guarantor’s Total Indebtedness to Adjusted Tangible Net Worth is not greater less than 5:1; and (D) Guarantor’s consolidated net income has been equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last fiscal quarter.”"
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is shall at all times be greater than or equal to $750,000,000830,000,000; (B) the combined amount of combined unrestricted cash of Guarantor and its Subsidiaries is shall at all times be greater than or equal to $40,000,000; and (C) the ratio of Guarantor’s Total Indebtedness to Adjusted Tangible Net Worth is not greater shall at all times be less than 5:1; 7:1, and (D) Guarantor’s consolidated net income has been Net Income shall be equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last each fiscal quarter.”
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is shall at all times be greater than or equal to $750,000,000; (B) the combined amount of combined unrestricted cash of Guarantor and its Subsidiaries is shall at all times be greater than or equal to $40,000,00030,000,000; (C) the ratio of Guarantor’s Total Indebtedness to Adjusted Tangible Net Worth is not greater shall at all times be less than 5:1; and (D) Guarantor’s consolidated net income has been shall be equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last each fiscal quarter.”
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is shall at all times be greater than or equal to $750,000,000830,000,000; (B) the combined amount of combined unrestricted cash of Guarantor and its Subsidiaries is shall at all times be greater than or equal to $40,000,000; and (C) the ratio of Guarantor’s Total total Indebtedness to Adjusted Tangible Net Worth is not greater shall at all times be less than 5:1; , and (D) Guarantor’s consolidated net income has been shall be equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last each fiscal quarter.”
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Financial Covenants of Guarantor. (A) Guarantor’s Adjusted Tangible Net Worth is greater than or equal to $750,000,000830,000,000; (B) the combined amount of unrestricted cash of Guarantor and its Subsidiaries is greater than or equal to $40,000,000; (C) the ratio of Guarantor’s Total Indebtedness to Adjusted Tangible Net Worth is not greater less than 5:17:1; and (D) Guarantor’s consolidated net income Net Income has been equal to or greater than $1.00 for at least one (1) of the previous two (2) consecutive fiscal quarters, as of the end of the last fiscal quarter.”
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)