Post-Closing Balance Sheet. Prior to closing, and within ten (10) days of each month thereafter until such time as USDA has issued the Loan Note Guaranty, Bank shall receive a current Balance Sheet, acceptable to Bank, and prepared in accordance with GAAP which shall reflect the assets and liabilities of Borrower (the “Post Closing Balance Sheet”). Each Post Closing Balance Sheet shall show a balance sheet equity position (Minimum Tangible Net Worth) of not less than twenty percent (20%).
Appears in 4 contracts
Samples: Loan Agreement (First Physicians Capital Group, Inc.), Loan Agreement (Tri-Isthmus Group, Inc.), Loan Agreement (Tri-Isthmus Group, Inc.)
