Common use of Maximum Debt to Tangible Net Worth Clause in Contracts

Maximum Debt to Tangible Net Worth. Borrower shall maintain a ratio of (i) the outstanding amount of Indebtedness of Borrower (excluding Subordinated Debt), to (ii) Tangible Net Worth, each as measured on a fiscal quarter-end basis commencing the calendar quarter ending September 30, 2007 and for each fiscal quarter thereafter, which is less than or equal to 6.00 to 1.00 (non-recourse off balance sheet financing would not be included as Indebtedness for the purposes of this covenant).

Maximum Debt to Tangible Net Worth. Borrower shall maintain a ratio of (i) the outstanding amount of Indebtedness of Borrower (excluding Subordinated Debt), to (ii) Tangible Net Worth, each as measured on a fiscal quarter-end basis commencing the calendar quarter ending September 30March 31, 2007 2011 and for each fiscal quarter thereafter, which is less than or equal to 6.00 4.50 to 1.00 (non-recourse off balance sheet financing would not be included as Indebtedness for the purposes of this covenant)1.00.

Maximum Debt to Tangible Net Worth. Borrower shall maintain a ratio of (i) the outstanding amount of Indebtedness of Borrower (excluding Subordinated Debt), to (ii) Tangible Net Worth, each as measured on a fiscal quarter-end basis commencing the calendar quarter ending September 30December 31, 2007 2005 and for each fiscal quarter thereafter, which is less than or equal to 6.00 to 1.00 (non-recourse off balance sheet financing would not be included as Indebtedness for the purposes of this covenant).1.00;

Maximum Debt to Tangible Net Worth. Borrower shall maintain a ratio of (i) the outstanding amount of Indebtedness of Borrower (excluding Subordinated Debt), to (ii) Tangible Net Worth, each as measured on a fiscal quarter-end basis commencing the calendar quarter ending September 30December 31, 2007 2005 and for each fiscal quarter thereafter, which is less than or equal to 6.00 to 1.00 (non-recourse off balance sheet financing would not be included as Indebtedness for the purposes of this covenant)1.00.