Net Worth and Liquidity Sample Clauses

Net Worth and Liquidity. As of the date of this Guaranty, Guarantor has a Net Worth (as hereinafter defined) in excess of $211,475,000.00 and has cash and other liquid assets totaling at least $10,000,000.00.
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Net Worth and Liquidity. At all times during the loan, ----------------------- Guarantor shall maintain a net worth of $30,000,000.00 and liquidity of $6,000,000.00.
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Net Worth and Liquidity. At all times during the Loans, Borrower shall maintain a Tangible Net Worth of $23,000,000.00 and Liquidity of $7,000,000.00.
Sample 1
Net Worth and Liquidity. Principal agrees that until the Improvements have been completed in accordance with this Agreement, Principal shall maintain (x) a Net Worth of not less than $51,350,000.00 plus the estimated cost of the Improvements (excluding Principal’s interest in the Original Property, Additional Parcel and Improvements) and (y) Liquid Assets of not less than $5,135,000.00 plus the estimated cost of the Improvements.
Sample 1
Net Worth and Liquidity. Until UDF has no further obligation or liability hereunder (as provided in Section 25 above), UDF shall maintain a Net Worth equal to at least $100,000,000 and Liquidity equal to at least $3,000,000.
Sample 1
Net Worth and Liquidity i) Borrower shall keep and maintain or will cause to be kept and maintained proper and accurate books and records, on a United States income tax basis, or such other accounting basis reasonably acceptable to Lender, reflecting the financial affairs of Borrower. Lender shall have the right from time to time during normal business hours upon reasonable notice to Borrower to examine such books and records at the office of Borrower or other Person maintaining such books and records and to make such copies or extracts thereof as Lender shall desire. (1) Borrower shall furnish to Lender quarterly, within 60 days of the end of each quarter in which this Promissory Note is outstanding, a complete copy of Borrower’s draft quarterly financial statements for the immediately preceding quarter, certified by an officer of Borrower in the form attached hereto as Exhibit A, including a balance sheet and income statement of Borrower, prepared in accordance with United States income tax basis consistently applied, or such other accounting basis reasonably acceptable to Lender, and audited annually by an independent certified public accountant acceptable to Lender (Mxxxxxxx, Wxxxx and Exxxx, Borrower’s current auditor, is acceptable). Borrower shall furnish to Lender yearly, within 120 days of the end of each year in which this Promissory Note is outstanding, a complete copy of Borrower’s draft annual financial statements for such year, certified by an officer of Borrower in the form attached hereto as Exhibit A, including a balance sheet and income statement of Borrower, prepared in accordance with United States income tax basis consistently applied, or such other accounting basis reasonably acceptable to Lender, and audited annually by an independent certified public accountant acceptable to Lender (Mxxxxxxx, Wxxxx and Exxxx, Bxxxxxxx’s current auditor, and Exxxx and Yxxxx are each acceptable). (2) Borrower’s financial statements delivered pursuant to the immediately preceding paragraph shall be accompanied by a certificate stating that such annual financial statements present fairly the financial condition and the results of operations of Borrower and certifying as of the date thereof whether, to Borrower’s best knowledge, there exists an event or circumstance which constitutes a Event of Default by Borrower under this Promissory Note or any other Loan Documents and if such Event of Default exists, the nature thereof, the period of time it has existed and the action then ...
Sample 1

Related to Net Worth and Liquidity

  • Capital and Liquidity Requirements If any Lender or any Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Swingline Loans and Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy and liquidity requirements), by an amount deemed to be material by such Lender or such Issuing Bank, then from time to time the Borrower will pay to such Lender or such Issuing Bank, as the case may be, in Dollars, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered.

  • Net Worth The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person’s primary home).

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Minimum Consolidated Net Worth The Borrower will not permit its Consolidated Net Worth at any time to be less than the sum of (i) $250,000,000 plus (ii) thirty percent (30%) of the sum of the Consolidated Net Income of the Borrower (with any consolidated net loss during any fiscal quarter counting as zero) for each fiscal quarter of the Borrower commencing with the fiscal quarter of the Borrower ending June 30, 1997.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for any period of four consecutive fiscal quarters ending after the Effective Date, to be less than 4.0 to 1.0.

  • Cash Flow Coverage Ratio The ratio of (a) the Company’s Cash Flow to (b) the sum of (i) the Company’s consolidated Interest Expense plus (ii) the Company’s scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • Current Ratio The Borrower will not permit, as of the last day of any fiscal quarter, its ratio of (i) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under FAS 133) to (ii) consolidated current liabilities (excluding non-cash obligations under FAS 133 and current maturities under this Agreement) to be less than 1.0 to 1.0.

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 1.50 to 1 at any time.