Common use of Financial Covenants of PMAC Holdings Clause in Contracts

Financial Covenants of PMAC Holdings. PMAC Holdings shall comply with the following financial covenants: (A) the ratio of PMAC Holdings’ Total Indebtedness to its Adjusted Tangible Net Worth shall not at any time be greater than 10:1, (B) PMAC Holdings and PennyMac Corp. shall maintain combined Liquidity at all times in an amount of not less than $25,000,000, and (C) the Adjusted Tangible Net Worth of PMAC Holdings shall at all times be equal to or greater than $220,000,000.

Appears in 2 contracts

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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Financial Covenants of PMAC Holdings. PMAC Holdings shall comply with the following financial covenants: (A) the ratio of PMAC Holdings’ Total Indebtedness to its Adjusted Tangible Net Worth shall not at any time be greater than 10:1, ; (B) PMAC Holdings and PennyMac Corp. shall maintain combined Liquidity at all times in an amount of not less than $25,000,000, ; and (C) the Adjusted Tangible Net Worth of PMAC Holdings shall at all times be equal to or greater than $220,000,000.

Appears in 1 contract

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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Financial Covenants of PMAC Holdings. PMAC Holdings shall comply with the following financial covenants: (A) the ratio of PMAC Holdings’ Total Indebtedness to its Adjusted Tangible Net Worth shall not at any time be greater than 10:1, ; (B) PMAC Holdings and PennyMac Corp. shall maintain combined Liquidity at all times on a consolidated basis as of the last day of the prior calendar month in an amount of not less than $25,000,000, ; and (C) the Adjusted Tangible Net Worth of PMAC Holdings shall at all times be equal to or greater than $220,000,000250,000,000.

Appears in 1 contract

Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)

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