FINANCIAL RESTRICTIONS. The Borrower shall promise to comply with the following items, on and after the date of this Agreement, and until this Agreement is terminated and the Borrower completes the performance of all of its obligations under this Agreement to each Lender and the Agent.
(i) The Borrower will ensure to keep the asset exceeding the liability in each of its stand-alone basis balance sheets as of each fiscal year-ends and mid-year-ends (six months closing).
(ii) The Borrower will maintain the Adjusted Tangible Net Worth, determined as of the last day of each fiscal quarter, of not less than 60 billion yen.
(iii) The Borrower will maintain the total net income and depreciation as of the last day of each fiscal period set forth below of not less than the amount set forth below opposite such fiscal period:
FINANCIAL RESTRICTIONS. The Borrower shall, on and after the Execution Date, and until this Agreement is terminated and the Borrower completes the performance of all of its obligations under this Agreement to each Lender B and the Agent, affirmatively covenant to comply with the following matters:
(i) The Borrower will ensure its liabilities do not exceed its assets in its stand-alone basis balance sheets as of the close of each fiscal year and six-month (mid-year) period.
(ii) The Borrower will maintain the Adjusted Tangible Net Worth at an amount not less than sixty billion (60,000,000,000) yen as of the last day of each fiscal quarter.
(iii) The Borrower will maintain its total net income and depreciation at an amount not less than the amount set forth below as of the last day of each fiscal period set forth below: Fiscal year 2005 21,125 million yen
(iv) The Borrower shall not cause, as of the last day of each period set forth below, the ratio of (a) the net income plus depreciation to (b) the sum of interest expenses, the amount of scheduled repayments of borrowings including Lease rentals, and maintenance capital expenditures for the Aizu Facility, for such period, to be less than the following percentages. Maintenance capital expenditures do not include capital expenditures for new facilities to enhance capacity, but instead are limited to the capital expenditures necessary to maintain and operate the existing facilities. Third - fourth fiscal quarter 2005 120 %
FINANCIAL RESTRICTIONS. 42 Section 7.1. Consolidated Tangible Net Worth..............................................42 Section 7.2. Cash Flow Coverage Ratio.....................................................42 Section 7.3. Ratio of Consolidated Liabilities to Consolidated Tangible Net Worth.........42 Section 7.4. Profitability................................................................42 Section 7.5. Operating Cash Flow..........................................................42 Section 7.6. Consolidated Leverage Ratio..................................................43 Section 7.7. Consolidated Adjusted EBITDA.................................................43 (ii)
FINANCIAL RESTRICTIONS. A Partner may withdraw from the ---------------------- Partnership, and a Notice of Withdrawal will be considered effective for purpose of triggering a Withdrawal under this Section 11.2, only if, as of the close of business on the last day of the calendar quarter immediately preceding the calendar quarter in which the Withdrawal is to be effective as specified in the Notice of Withdrawal, the principal amount of the Partnership's Long-Term Debt is no greater than 6 times (i.e., 600% of) the aggregate amount of the Partnership's Operating Cash Flow for the four calendar quarters immediately preceding the calendar quarter in which the Notice of Withdrawal is to be effective [Long-Term Debt (6 x Operating Cash Flow for the four preceding calendar quarters)].
FINANCIAL RESTRICTIONS. On and after the date hereof, until all of the Bank Obligations shall have been paid in full and the Banks shall have no commitments to lend hereunder, the Loan Parties shall observe the following covenants:
FINANCIAL RESTRICTIONS. On and after the date hereof, until all of the Lender Obligations shall have been paid in full and the Borrower shall have no further right to borrow hereunder, the Borrower shall observe the following covenants.
FINANCIAL RESTRICTIONS. The parties agree that the payment of any fringe benefit, except for salaries, hospitalization, prescription, dental, sick leave, bereavement leave, personal days and vacation will be paid only if sufficient funding is available, at the discretion of the Director, upon approval of the Ocean County Board of Social Services. The Director agrees to notify the Union as soon as the Agency becomes aware, but not less than ninety (90) calendar days in advance of any decision the Director may make to withhold payment of a fringe benefit on the basis that insufficient funding is available.
FINANCIAL RESTRICTIONS. (a) The Borrower shall ensure that the amount of net assets on the non-consolidated balance sheet of the Borrower as of the end of each fiscal year of the Borrower shall be at least 75% of the amount of net assets on the non-consolidated balance sheet of the Borrower as of the end of the fiscal year immediately preceding such fiscal year, respectively. The first fiscal year subject to compliance with this (a) shall be the fiscal year ending March 2023.
(b) The Borrower covenants that it will not incur any ordinary loss with respect to ordinary income or loss on the Borrower’s stand-alone statement of income for each of the Borrower’s fiscal years. The first fiscal year subject to compliance with this paragraph (b) shall be the fiscal year ending March 2023.
(c) The Borrower shall ensure that the amount of interest-bearing debt on the Borrower’s non-consolidated balance sheet (The total amount of “short-term borrowings,” “long-term borrowings,” “current portion of long-term borrowings,” “bonds payable,” “current portion of bonds payable,” “bonds with stock acquisition rights,” “current portion of bonds with stock acquisition rights,” “commercial paper” and “discounted notes” in the relevant balance sheets) as of the end of each fiscal year divided by the amount of net assets on the Borrower’s non-consolidated balance sheet as of the end of such fiscal year shall be maintained between 0 and 2.5, respectively.
FINANCIAL RESTRICTIONS. 47 Section 7.1. Consolidated Fixed Charge Coverage Ratio.......................................47 Section 7.2 Minimum Net Worth..............................................................47
FINANCIAL RESTRICTIONS. 49 Section 7.1. CONSOLIDATED LEVERAGE RATIO..............................49 Section 7.2. CONSOLIDATED NET WORTH...................................49 Section 7.3. CONSOLIDATED CASH FLOW COVERAGE RATIO....................49 Section 7.4. CONSOLIDATED CAPITAL EXPENDITURES........................49 Section 7.5. CONSOLIDATED OPERATING LEASE EXPENSE.....................50 Section 7.6. CONSOLIDATED EBITDA......................................50 (ii) Section 7.7. OPERATING CASH FLOW......................................50
