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.
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Samples: Term Loan Facility Agreement (B Plus H Ocean Carriers LTD)
Positive working capital. The Borrower Borrowers shall procure that the Guarantor (on a consolidated basis) shall 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.
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Positive working capital. The Borrower Borrowers shall and shall procure that the Guarantor (on a consolidated basis) shall at all times shall ensure that its their current assets exceed its their current liabilities (excluding the portion of long term debt)) and of which an amount of the higher of six per cent (6.00%) of the long-term debt and USD 5,000,000 shall be in cash or money market investments, all as determined in accordance with GAAP.
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Positive working capital. The Borrower shall procure that the Corporate Guarantor (on a consolidated basis) shall 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.
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