Net Debt to Equity Ratio. The Company will not permit the Net Debt to Equity Ratio as of the last day of any fiscal quarter of the Company to be greater than 2.0 to 1.0.
Net Debt to Equity Ratio. The ratio of Net Debt to Equity of the Borrower shall not exceed:
Net Debt to Equity Ratio. As of any date of determination, the ratio of (a) the sum of (x) the aggregate principal amount of senior securities representing Indebtedness for borrowed money of the Guarantor and its Subsidiaries as of such date, plus (y) the aggregate principal amount of any Indebtedness for borrowed money of Persons other than the Guarantor and its Subsidiaries, which Indebtedness is subject to a guarantee as of such date by either of the Guarantor or any of its consolidated subsidiaries, less (z) all cash and Cash Equivalents of the Guarantor and its Subsidiaries to (b) Stockholders’ Equity at the last day of the immediately preceding fiscal quarter. For the avoidance of doubt, the Indebtedness relating to “Bonds payable held in variable interest entities” that are not obligations of the Guarantor, but are included on the Guarantor’s balance sheet as required by GAAP will not be included in this calculation. Note: A promissory note, in the Loan Amount, executed by Xxxxxxxx and payable to the order of Lender, evidencing the Loan.
Net Debt to Equity Ratio. Beginning on June 30th, 2024, and on the last day of each fiscal quarter thereafter (each, a “Measurement Date”) thereafter, Guarantor shall have a Net Debt to Equity Ratio of no more than 3.50:1.00.
