Indebtedness to Net Worth Ratio. The Company and its Subsidiaries will maintain, on a consolidated basis, a ratio of (a) total Indebtedness less Unearned Revenues to (b) Net Worth, at all times during each period set forth below, of not greater than the ratio set forth below opposite such period: Period Ratio 07/01/96 through 12/30/96 2.50 to 1.0 12/31/96 and thereafter 2.25 to 1.0
Indebtedness to Net Worth Ratio. As of the end of each fiscal quarter of Borrower, starting with the fiscal quarter ending September 30, 1997, maintain a ratio of Borrower's Consolidated Indebtedness to Borrower's Consolidated Net Worth of no more than 1.00 to 1.00. For the purposes of this ratio, the term "Indebtedness" (i) shall include at any relevant calculation date the aggregate undrawn amount of all then outstanding Letters of Credit, and (ii) shall NOT include any guarantee by Borrower of the Parent Senior Notes.
Indebtedness to Net Worth Ratio. After an IPO Event, permit the ratio of Consolidated Indebtedness and Guarantee Obligations of Holdings to Consolidated Net Worth of Holdings at any time to exceed 1.0 to 1.0.
Indebtedness to Net Worth Ratio. As of the end of each fiscal quarter of Borrower ending closest to the date indicated below, maintain a ratio of Borrower's Indebtedness to Borrower's Net Worth of no more than the ratio indicated below:
Indebtedness to Net Worth Ratio. As of the end of each fiscal quarter of Borrower ending closest to the date indicated below, maintain a ratio of Borrower's Indebtedness to Borrower's Net Worth of no more than the ratio indicated below: Fiscal Quarter Ending Closest To: Ratio ------------------------ --------------- March 31, 1997 4.0 to 1.00 ------------------------ June 30, 1997 4.0 to 1.00 ------------------------ September 30, 1997 4.0 to 1.00 ------------------------ December 31, 1997 4.0 to 1.00 ------------------------ At the end of each thereafter occurring fiscal quarter 3.0 to 1.00 ------------------------
Indebtedness to Net Worth Ratio. The Borrower shall not at any time permit the ratio of (x) all the Borrower's consolidated liabilities as reflected on its balance sheet in accordance with GAAP to (y) net worth, determined and consolidated in accordance with GAAP and measured at the end of each quarter, to exceed the ratio set forth below for the period specified below: Quarter Ending Ratio -------------- ----- March 31, 1998 2.0-to-1.0 June 30, 1998 2.25-to-1.0 September 30, 1998 3.0-to-1.0 If the ratio at the end of the 3rd fiscal quarter exceeds 2.50-to-1.0, then the ratio shall be re-tested and may not exceed: 2.0-to-1.0* -60- 70 December 31, 1998 2.0-to-1.0 March 31, 1999 2.0-to-1.0 June 30, 1999 2.25-to-1.0 September 30, 1999 3.25-to-1.0 If the ratio at the end of the 3rd fiscal quarter exceeds 2.50-to-1.0, then the ratio shall be re-tested and may not exceed: 2.0-to-1.0* December 31, 1999 2.0-to-1.0 March 31, 2000 2.0-to-1.0 June 30, 2000 2.25-to-1.0 September 30, 2000 3.25-to-1.0 December 31, 2000 2.0-to-1.0 March 31, 2001 and thereafter 2.0-to-1.0 *For purposes of the special test which may apply after the 3rd quarter test, the ratio shall be calculated as of November 30 of the relevant year.
Indebtedness to Net Worth Ratio. The Borrower will not permit Consolidated Indebtedness (other than Permitted Indebtedness owed by MinDOC or to GIF Finance) to Consolidated Net Worth to exceed .50 to 1.00.
Indebtedness to Net Worth Ratio. The Company and its ------------------------------- Subsidiaries will maintain, on a consolidated basis, a ratio of total Indebtedness (excluding Unearned Revenues and amounts on all Subordinated Indebtedness that are due on and to become due more than one year from the date as of which such deter mination is to be made) to Net Worth of not greater than (i) 2.25 to 1.0 at all times from the date of this Agreement until December 30, 1992, (ii) 2.0 to 1.0 at all times from and after December 31, 1992 until December 30, 1993, and (iii) 1.50 to 1.0 at all times from December 30, 1993 and thereafter throughout the term hereof.
Indebtedness to Net Worth Ratio. Article 14 of the Loan Agreement shall be and is hereby amended to add the following financial covenant as a new Section 14.9:
Indebtedness to Net Worth Ratio. Borrowers will maintain a ratio of Indebtedness to Net Worth of not more than 1.3 to 1.0 for the fiscal month ending March 31, 2003 and for each fiscal month end thereafter. ’’
