Indebtedness to Adjusted Tangible Net Worth Ratio. (i) PMC’s ratio of Indebtedness (on and off balance sheet and excluding (A) Non-Recourse Debt, including any securitization debt, and (B) any intercompany debt eliminated in consolidation) to Adjusted Tangible Net Worth has not exceeded 10:1 at any time.
Appears in 3 contracts
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust), PennyMac Mortgage Investment Trust, PennyMac Mortgage Investment Trust
Indebtedness to Adjusted Tangible Net Worth Ratio. (i) PMC’s ratio of Indebtedness (on and off balance sheet and excluding (A) Non-Recourse Debt, including any securitization debt, and (B) any intercompany debt eliminated in consolidation) to Adjusted Tangible Net Worth has shall not exceeded 10:1 at any timeexceed 10:1.
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)