Ratio of Consolidated Indebtedness to Total Capitalization. Permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.6 : 1.0.
Ratio of Consolidated Indebtedness to Total Capitalization. Permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.60:1.00; provided that (i) upon the consummation of any Material Acquisition and the written election of the Borrower to the Administrative Agent no later than thirty days following the consummation of such Material Acquisition, the maximum permitted ratio of Consolidated Indebtedness to Total Capitalization shall be increased by 0.05:1.00 above the otherwise-applicable maximum permitted ratio of Consolidated Indebtedness to Total Capitalization with respect to the last day of the fiscal quarter during which such Material Acquisition shall have been consummated and the last day of each of the immediately following three consecutive fiscal quarters, and (ii) between the signing of the definitive agreement (or offer documentation, as applicable) for a Material Acquisition and the earlier of (x) the closing of such Material Acquisition and (y) thirty days following the termination of such definitive agreement (or offer documentation, as applicable) for such Material Acquisition, any Acquisition Debt incurred to finance such Material Acquisition shall be excluded for purposes of calculation the ratio of Consolidated Indebtedness to Total Capitalization hereunder. The Borrower shall only be permitted to make an election pursuant to the proviso of the preceding sentence twice during the term of this Agreement, and there shall be at least two consecutive fiscal quarters between such elections during which time no increase to the maximum permitted ratio of Consolidated Indebtedness to Total Capitalization shall be in effect.
Ratio of Consolidated Indebtedness to Total Capitalization. Permit Consolidated Indebtedness, calculated as of the last day of each fiscal quarter, to exceed 35% of the sum of (i) Consolidated Indebtedness plus (ii) Adjusted Consolidated Net Worth.
Ratio of Consolidated Indebtedness to Total Capitalization. Permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.60:1.00; provided that (a) from the Acquisition Closing Date through and including the fiscal quarter ending September 30, 2019, the Borrower will not permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.65:1.00, and (b) until the earliest of (x) the occurrence of the Acquisition Closing Date, (y) the date that is 30 days following the termination of the Acquisition Agreement in accordance with its terms and (z) August 31, 2019, solely for purposes of calculating compliance with this Section 8.9, Consolidated Indebtedness and Total Capitalization shall each be calculated exclusive of any Acquisition Indebtedness.
(f) Section 9.1(g) of the Credit Agreement is hereby amended by replacing the numerical threshold of “$125,000,000” set forth therein with the phrase “the Threshold Amount”.
(g) Section 9.1(k) of the Credit Agreement is hereby amended by replacing the numerical threshold of “$125,000,000” set forth therein with the phrase “the Threshold Amount”.
(h) Section 9.1(m) of the Credit Agreement is hereby amended by replacing the numerical thresholds of “$125,000,000” set forth therein with the phrase “the Threshold Amount”.
Ratio of Consolidated Indebtedness to Total Capitalization. Permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.60:1.00; provided that (a) from the Acquisition Closing Date through and including the fiscal quarter ending September 30, 2019, the Borrower will not permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.65:1.00, and (b) until the earliest of (x) the occurrence of the Acquisition Closing Date, (y) the date that is 30 days following the termination of the Acquisition Agreement in accordance with its terms and (z) August 31, 2019, solely for purposes of calculating compliance with this Section 8.9, Consolidated Indebtedness and Total Capitalization shall each be calculated exclusive of any Acquisition Indebtedness.
Ratio of Consolidated Indebtedness to Total Capitalization. Divide Line 1 by Line 2(c) $ ============ Applicable LIBOR Margin (pursuant to the Credit Agreement): __________% Applicable Commitment Fee Rate (pursuant to the Credit Agreement): __________% FORM OF COMPLIANCE CERTIFICATE (Statutory Financial Statements) THIS CERTIFICATE is given pursuant to Section 5.3(a) of the Amended and Restated Credit Agreement, dated as of December 16, 1996 (as amended, modified or supplemented from time to time, the "Credit Agreement," the terms defined therein being used herein as therein defined), among Guaranty National Corporation (the "Borrower"), certain banks and other financial institutions from time to time parties thereto (the "Lenders"), and First Union National Bank of North Carolina, as Agent for the Lenders. The undersigned hereby certifies that:
1. He is the duly elected [Chief Executive Officer/[insert title of Senior Financial Officer]] of the Borrower.
2. Enclosed with this Certificate are copies of the statutory financial statements of each Insurance Subsidiary as of _____________, and for the [________-month period] [year] then ended, required to be delivered under Section [5.2(a)] [5.2(b)] of the Credit Agreement. Such statutory financial statements have been prepared in accordance with Statutory Accounting Principles [(subject to the absence of notes required by Statutory Accounting Principles and to normal year-end audit adjustments)](3) and fairly present the financial condition of each Insurance Subsidiary as of the date indicated and the results of operations, changes in capital and surplus and cash flow of each Insurance Subsidiary for the period covered thereby.
3. The undersigned has reviewed the terms of the Credit Agreement and has made, or caused to be made under the supervision of the undersigned, a review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the accounting period covered by such financial statements.
4. The examination described in paragraph 3 above did not disclose, and the undersigned has no knowledge of the existence of, any Default or Event of Default during or at the end of the accounting period covered by such financial statements or as of the date of this Certificate. [, except as set forth below. Describe here or in a separate attachment any exceptions to paragraph 4 above by listing, in reasonable detail, the nature of the Default or Event of Default, the period during which it existed and the action that the Borrower has take...
Ratio of Consolidated Indebtedness to Total Capitalization. Permit the ratio of (i) Consolidated Indebtedness at any time to (ii) the Total Capitalization of the Borrower at such time to be more than 0.375 to 1.0.
Ratio of Consolidated Indebtedness to Total Capitalization. Permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.65:1.00; provided, that until the earlier of (x) the occurrence of the Closing Date and (y) the date that is 30 days following the termination of the Merger Agreement in accordance with its terms, solely for purposes of calculating compliance with this Section 7.09, Consolidated Indebtedness and Total Capitalization shall each be calculated exclusive of any Acquisition Indebtedness.
Ratio of Consolidated Indebtedness to Total Capitalization. Divide Line 1 by Line 2(c) ======
Ratio of Consolidated Indebtedness to Total Capitalization. Permit its ratio of Consolidated Indebtedness to Total Capitalization at the end of any fiscal quarter to exceed 0.65:1.00 (the “Financial Covenant Threshold”); provided, that until the earlier of (x) the occurrence of the Closing Date and (y) the date that is 30 days following the termination of the Merger Agreement in accordance with its terms, solely for purposes of calculating compliance with this Section 7.09, Consolidated Indebtedness and Total Capitalization shall each be calculated exclusive of any Acquisition Indebtedness. Notwithstanding the foregoing, if the Borrower does not elect a “material acquisition” step up in the financial covenant levels set forth in any of the Existing Revolving Facilities, the Financial Covenant Threshold shall automatically be deemed amended to match any lower Financial Covenant Threshold in any Existing Revolving Credit Facility (notwithstanding anything to the contrary in Section 10.01).
