{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "day-of", "type": "clause", "offset": [40, 46]}, {"key": "fiscal-quarter", "type": "clause", "offset": [51, 65]}, {"key": "ratio-of", "type": "clause", "offset": [70, 78]}, {"key": "consolidated-current-assets", "type": "clause", "offset": [83, 110]}, {"key": "consolidated-current-liabilities", "type": "definition", "offset": [119, 151]}], "size": 3, "snippet": "Company shall not permit as of the last day of any Fiscal Quarter the ratio of (i) Consolidated Current Assets to (ii) Consolidated Current Liabilities to be less than 2.00 to 1.00.", "samples": [{"hash": "cp8tiKL8YWn", "uri": "/contracts/cp8tiKL8YWn#minimum-consolidated-current-ratio", "label": "Credit Agreement (Varco International Inc)", "score": 18.0, "published": true}, {"hash": "4fhZdr5z0Fu", "uri": "/contracts/4fhZdr5z0Fu#minimum-consolidated-current-ratio", "label": "Credit Agreement (Varco International Inc)", "score": 18.0, "published": true}], 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"published": true}], "hash": "3a350eb56d2f33e88113b3b5d9a9ee92", "id": 3}, {"snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [0, 13]}, {"key": "consolidated-current-ratio", "type": "definition", "offset": [21, 47]}, {"key": "fiscal-quarter", "type": "clause", "offset": [70, 84]}], "size": 2, "snippet": "Borrower will have a Consolidated Current Ratio as of the end of each fiscal quarter of at least 2.0 to 1.", "samples": [{"hash": "1UL0RNY1PHQ", "uri": "/contracts/1UL0RNY1PHQ#minimum-consolidated-current-ratio", "label": "Revolving Credit Agreement (Superior Energy Services Inc)", "score": 18.0, "published": true}], "hash": "52605fef4e4371f4602ba1df0fe4d257", "id": 4}, {"snippet_links": [{"key": "pursuant-to-section", "type": "definition", "offset": [0, 19]}, {"key": "the-credit-agreement", "type": "clause", "offset": [28, 48]}, {"key": "reporting-date", "type": "clause", "offset": [60, 74]}, {"key": "parent-borrower", "type": "clause", "offset": [80, 95]}, {"key": "consolidated-current-ratio", "type": "definition", "offset": [98, 124]}, {"key": "the-requirement", "type": "clause", "offset": [184, 199]}, {"key": "fiscal-quarter-ending", "type": "definition", "offset": [313, 334]}, {"key": "compliance-certificate", "type": "clause", "offset": [542, 564]}], "size": 1, "snippet": "Pursuant to Section 6.14 of the Credit Agreement, as of the Reporting Date, the Parent Borrower's Consolidated Current Ratio was _____ to 1.00 which [ ] satisfies [ ] does not satisfy the requirement that such ratio be no less than __________ to 1.0 on the Reporting Date as set forth below: Minimum Consolidated Fiscal Quarter Ending Current Ratio ------------------------------- --------------------------- March 31, 1999 0.95 to 1.00 June 30, 1999 0.95 to 1.00 September 30, 1999 1.00 to 1.00 December 31, 1999 and 1.10 to 1.00 thereafter Compliance Certificate -2-", "samples": [{"hash": "fez6GAcMOTw", "uri": 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each case to be less than 1.50 to 1.00.\"\nL. Subsection 7.7(iv) of the Credit Agreement is hereby amended by deleting it in its entirety and substituting the following therefor:", "samples": [{"hash": "hVcbKWKxFMD", "uri": "/contracts/hVcbKWKxFMD#minimum-consolidated-current-ratio", "label": "Credit Agreement (Urs Corp /New/)", "score": 18.0, "published": true}], "hash": "2d9878501dba645df148327ed4a8ce1f", "id": 6}, {"snippet_links": [{"key": "consolidated-current-ratio", "type": "definition", "offset": [11, 37]}, {"key": "the-designated", "type": "definition", "offset": [84, 98]}, {"key": "quarter-end", "type": "definition", "offset": [106, 117]}], "size": 1, "snippet": "Permit the Consolidated Current Ratio to be less than the ratio set forth below for the designated fiscal quarter end:", "samples": [{"hash": "8NuMVC67K0S", "uri": "/contracts/8NuMVC67K0S#minimum-consolidated-current-ratio", "label": "Credit Agreement (Virco MFG Corporation)", "score": 21.0, "published": true}], "hash": "51c3bb6727ba439fb4cfd2ca2593094d", "id": 7}, {"snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [11, 24]}, {"key": "consolidated-current-ratio", "type": "definition", "offset": [38, 64]}, {"key": "fiscal-quarter-ending", "type": "definition", "offset": [170, 191]}], "size": 1, "snippet": "The Parent Borrower will maintain its Consolidated Current Ratio, determined as of the end of each month at not less than the ratio set forth below: Minimum Consolidated Fiscal Quarter Ending Current Ratio ------------------------------------ ---------------------- March 31, 1999 0.95 to 1.00 June 30, 1999 0.95 to 1.00 September 30, 1999 1.00 to 1.00 December 31, 1999 and 1.10 to 1.00 thereafter", "samples": [{"hash": "fez6GAcMOTw", "uri": "/contracts/fez6GAcMOTw#minimum-consolidated-current-ratio", "label": "Credit and Security Agreement (Eagle Geophysical Inc)", "score": 18.0, "published": true}], "hash": "515cd5574bcc8da0aa2bc44be97f0b53", "id": 8}, {"snippet_links": [{"key": "the-borrowers", "type": "definition", "offset": [0, 13]}, {"key": "beginning-with-the", "type": "clause", "offset": [90, 108]}, {"key": "fiscal-quarter-ending", "type": "definition", "offset": [109, 130]}, {"key": "consolidated-current-ratio", "type": "definition", "offset": [151, 177]}], "size": 1, "snippet": "The Borrowers shall not permit, measured as of the end of each of each Measurement Period beginning with the Fiscal Quarter ending March 31, 2026, the Consolidated Current Ratio to be less than the Consolidated Current Ratio set forth below for the corresponding Fiscal Quarter: March 31, 2024 2026 1.051.00 to 1.00 June 30, 2024 2026 1.05 to 1.00 September 30, 20242026 1.101.05 to 1.00 December 31, 20242026 1.101.05 to 1.00 March 31, 2025 1.10 to 1.00 June 30, 2025 and each Fiscal Quarter thereafter 1.15 to 1.00", "samples": [{"hash": "bHWWLqDihwJ", "uri": "/contracts/bHWWLqDihwJ#minimum-consolidated-current-ratio", "label": "Credit Agreement (Lazydays Holdings, Inc.)", "score": 35.8802190281, "published": true}], "hash": "2fdf89b33d1887e8e6d8a3f338b7a565", "id": 9}, {"snippet_links": [{"key": "borrower-will", "type": "clause", "offset": [4, 17]}, {"key": "consolidated-current-assets", "type": "clause", "offset": [77, 104]}, {"key": "consolidated-current-liabilities", "type": "definition", "offset": [108, 140]}, {"key": "day-of", "type": "clause", "offset": [181, 187]}, {"key": "fiscal-quarter", "type": "clause", "offset": [192, 206]}], "size": 1, "snippet": "The Borrower will not permit the ---------------------------------- ratio of Consolidated Current Assets to Consolidated Current Liabilities to be less than 2.2 to 1 as of the last day of any fiscal quarter.\nq. Section 5.03(d) is deleted and restated as follows:", "samples": [{"hash": "b0WCUSd2a3x", "uri": "/contracts/b0WCUSd2a3x#minimum-consolidated-current-ratio", "label": "Credit Agreement (Varco International Inc)", "score": 18.0, "published": true}], "hash": "0e86abd1a49e0011e95c34b7deab3bc0", "id": 10}], "next_curs": "CmsSZWoVc35sYXdpbnNpZGVyY29udHJhY3RzckcLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IittaW5pbXVtLWNvbnNvbGlkYXRlZC1jdXJyZW50LXJhdGlvIzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"title": "Minimum Consolidated Current Ratio", "children": [["opinion-of-counsel", "Opinion of Counsel"], ["litigation", "Litigation"], ["financial-statements", "Financial Statements"], ["investments", "Investments"], ["financial-covenants", "FINANCIAL COVENANTS"]], "size": 18, "parents": [["financial-covenants", "Financial Covenants"], ["miscellaneous", "Miscellaneous"], ["negative-covenants", "NEGATIVE COVENANTS"], ["companys-negative-covenants", "COMPANY'S NEGATIVE COVENANTS"], ["covenants", "COVENANTS"]], "id": "minimum-consolidated-current-ratio", "related": [["minimum-current-ratio", "Minimum Current Ratio", "Minimum Current Ratio"], ["minimum-consolidated-net-worth", "Minimum Consolidated Net Worth", "Minimum Consolidated Net Worth"], ["minimum-consolidated-interest-coverage-ratio", "Minimum Consolidated Interest Coverage Ratio", "Minimum Consolidated Interest Coverage Ratio"], ["current-ratio", "Current Ratio", "Current Ratio"], ["maximum-consolidated-leverage-ratio", "Maximum Consolidated Leverage Ratio", "Maximum Consolidated Leverage Ratio"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Minimum Consolidated Current Ratio clause sets a required threshold for the ratio of a company's current assets to its current liabilities, ensuring the company maintains sufficient short-term liquidity. Typically, this clause requires the company to regularly report its current ratio and to keep it above a specified minimum level, such as 1.0 or 1.2, throughout the term of a loan or agreement. By enforcing this financial covenant, the clause helps protect lenders or counterparties by reducing the risk that the company will be unable to meet its short-term obligations."}, "json": true, "cursor": ""}}