Positive working capital. The working capital of the the Guarantor (on a consolidated basis) was [·]. The Guarantor (on a consolidated basis) shall at all times ensure that its current assets exceeds its current liabilities (excluding the current portion of long term debt), all as determined in accordance with GAAP. The covenant set out in Clause 20.2.4 (Positive working capital) is thus [not] satisfied.
Positive working capital. The Borrower shall, on a consolidated basis, at all times during the Security Period maintain a positive Working Capital.
Positive working capital. The Working Capital of the Borrower was [—]. The Working Capital of the Borrower shall at all timed during the Security Period be positive and the covenant in Clause 22.2.4 (Positive Working Capital) is thus [not] satisfied.
Positive working capital. The Guarantor (on a consolidated basis) shall at all times following the delivery of the Compliance Certificate for the period ending on 30 June 2010, ensure that its current assets exceed its current liabilities (excluding the current portion of long term debt), all as determined in accordance with GAAP.
Positive working capital. The Borrower shall procure that the Guarantor (on a consolidated basis) at all times shall ensure that its current assets exceed its current liabilities (excluding the portion of long term debt), all as determined in accordance with GAAP.
Positive working capital. As of the first anniversary of the Drawdown Date and at all times thereafter during the Security Period, each of the Borrowers shall maintain Positive Working Capital.
Positive working capital. The Company shall have a positive working capital as of the end of the month immediately preceding the month in which the Effective Date occurs.
Positive working capital. RMS McGladrey shall have delivered to Parent and SMB pursuant to Section 5.12 a Working Capital Notice setting forth that the Parent Working Capital is a positive number.
Positive working capital. Permit, as of the close of any calendar quarter or month, working capital to be other than a positive number (excluding in the calculation thereof current maturities of long-term debt). 14 HEDGE AGREEMENTS. Create, incur, assume or suffer to exist any Swap Obligations that (i) require a Borrower to deliver, or make cash settlement payments based on quantities of Hydrocarbons which, in the aggregate for all such Swap Obligations, would exceed 60% of the estimated production during the term of such agreements from that portion of the Mortgaged Properties consisting of proved developed producing reserves and (ii) of a maturity exceeding three years, without the prior written consent of the Agent and the Required Lenders.
Positive working capital. The Acquired Entities and the Principals hereby covenant, represent and warrant that on and as of the Closing Date, the total aggregate current assets of the Acquired Entities (other than any current assets that are not held by the Surviving Corporations upon consummation of the Mergers and any current assets of the Partnerships that are not acquired by the Republic Acquisition Subs hereunder) shall exceed the total aggregate current liabilities of the Acquired Entities, in each case determined in accordance with GAAP (such condition is referred to herein as "Positive Working Capital").
