Leverage Covenants. The Company shall not permit, at any time, ------------------ the ratio of Home Building Debt to Consolidated Tangible Net Worth to exceed:
(i) 2.0 to 1, if the Interest Coverage Ratio for the immediately preceding Measurement Period was at least 2.5 to 1;
(ii) 1.75 to 1, if the Interest Coverage Ratio for the immediately preceding Measurement Period was at least 2.0 to 1 (but less than 2.5 to 1);
Leverage Covenants. 59 8.21 Minimum Interest Coverage ...................................... 59 8.22 Transactions with Affiliates ................................... 60 ARTICLE 9:
Leverage Covenants. The Consolidated Total Leverage Ratio shall not be greater than 7.00 to 1.00 and the Consolidated Senior Leverage Ratio shall not be greater than 5.25 to 1.00; provided, however, if the Additional 7% Senior Subordinated Notes have been issued on or prior to the Effective Date, the Consolidated Total Leverage Ratio shall not be greater than 7.00 to 1.00 and the Consolidated Senior Leverage Ratio shall not be greater than 4.75 to 1.00.
Leverage Covenants. Company shall not permit, at any time, the ratio of Home Building Debt to Home Building Tangible Net Worth to exceed 1.6 to 1.0; provided, however, that in the event Standard Pacific Savings is sold under -------- ------- circumstances other than those described in Section 8.1(a) above, then the ---------- -------------- covenant in this subparagraph (a) shall be eliminated and this subparagraph (a) shall cease to be of any further force or effect.
Leverage Covenants. 52 8.3 Payment of Taxes and Other Potential Liens........................................ 52 8.4
Leverage Covenants. (a) The Company shall not permit, at any time, the ratio of Home Building Debt to Home Building Net Worth to exceed 1.6 to 1.0.
(b) The Company shall not permit, at any time, the ratio of Consolidated Debt to Consolidated Tangible Net Worth to exceed 2.5 to 1.0.
Leverage Covenants. The Company shall not permit, measured as of the end of each Quarter, the ratio (the "Leverage Ratio") of Consolidated Liabilities to Consolidated Tangible Net Worth to exceed 2.50 to 1, PROVIDED, HOWEVER, that the Company will not be in default under this SECTION 8.2 if the Leverage Ratio is more than 2.50 to 1.0 (but IN NO EVENT more than 2.75 to 1.0) for not more than one Quarter ("Leverage Ratio Cure Period"), so long as all the following conditions are satisfied:
(1) The Company shall have delivered to the Agent written notice of its failure to satisfy the 2.50 to 1.0 Leverage Ratio requirement (a "LEVERAGE COVERAGE NOTICE"), specifying the Leverage Ratio as of the end of the Quarter ("Leverage Failure Date"), within 45 days after the end of the Quarter or sooner if known to the Company.
(2) The Consolidated Net Income (less any non-cash inventory writedowns) was positive as of the Leverage Coverage Failure Date and for the immediately preceding Quarter.
(3) The Leverage Coverage Failure Date covered by any Leverage Coverage Notice shall have been immediately preceded by at least two Quarters in which the Company was in compliance with the 2.50 to 1.0 Leverage Coverage Ratio.
(4) No other Event of Default has occurred and is continuing.
(5) The Minimum Interest Coverage as of the Leverage Failure Date is no less than 2.5 to 1.0.
Leverage Covenants. Borrower shall not permit at any time any of the following:
(a) the Total Leverage Ratio to exceed 2.50 to 1.0;
(b) the ratio of Combined Senior Home Building Debt to Adjusted Consolidated Tangible Net Worth to exceed 2.0 to 1.0;
(c) the ratio of Unsold Land to Adjusted Consolidated Tangible Net Worth to exceed 1.60 to 1.0. Furthermore, in the event that the Mandatory Joint Venture Lot Purchase Obligations at any time exceed $50,000,000, the amount of such Mandatory Joint Venture Lot Purchase Obligations in excess of $50,000,000 shall be added to Combined Total Home Building Debt for purposes of calculating the foregoing leverage covenants set forth in this Section 8.20.
Leverage Covenants. Borrower shall not permit at any time any of the following:
(a) the Total Leverage Ratio to exceed 2.25 to 1.0;
(b) the ratio of Combined Senior Home Building Debt to Adjusted Consolidated Tangible Net Worth to exceed 2.0 to 1.0; and
(c) the ratio of Unsold Land to Adjusted Consolidated Tangible Net Worth to exceed 1.60 to 1.0.
Leverage Covenants. 57 8.3 Minimum Interest Coverage . . . . . . . . . . . . . . 57 8.4 Minimum Fixed Charge Coverage Ratio.. . . . . . . . . 57 8.5 Payment of Taxes and Other Potential Liens. . . . . . 57 8.6
