Ratio of Debt to Tangible Net Worth. So long as the Note shall remain unpaid or the Bank shall have any Commitment hereunder, the ratio of the Borrower’s Debt to Tangible Net Worth shall not exceed 2.25 to 1 measured at the end of each fiscal quarter end basis.”
Ratio of Debt to Tangible Net Worth. So long as the Note shall remain unpaid or the Bank shall have any Commitment hereunder, the ratio of the Borrower's Debt to Tangible Net Worth shall not exceed 1.85 to 1 measured at the end of each fiscal quarter end basis.
Ratio of Debt to Tangible Net Worth. At the end of each Test Period, Guarantor (on a consolidated basis) shall maintain its ratio of Debt to Tangible Net Worth to not more than 4.00 to 1.00.
Ratio of Debt to Tangible Net Worth. Borrower shall maintain at all times its ratio of Debt (as defined below) to Tangible Net Worth (as defined below) at not more than 1.50 to 1.00. "Debt" shall mean (i) all items of indebtedness or liability which in accordance with generally accepted accounting principles or federal tax law would be included in determining total liabilities as shown on the liabilities side of a balance sheet, (ii) indebtedness secured by any mortgage, pledge, lien or security interest existing on property owned by Borrower, whether or not the indebtedness secured thereby shall have been assumed, and (iii) guaranties and endorsements (other than for purposes of collection in the ordinary course of business) by Borrower and other contingent obligations of Borrower in respect of, or to purchase or otherwise acquire, indebtedness of others. "Tangible Net Worth" means the excess of:
Ratio of Debt to Tangible Net Worth. The Company shall maintain the ratio of its total liabilities to its Tangible Net Worth at levels not greater than those show in the following table during the periods indicated: PERIOD RATIO ------ ----- at December 2, 1995 and until March 30, 1996 3.25 to 1.0 at March 30, 1996 and until fiscal year end 1996 2.95 to 1.0 at fiscal year end 1996 and at all times thereafter 2.60 to 1.0 For purposes of testing compliance with this covenant, the term "liabilities" shall include the present value of all capital lease obligations of the Company, determined as of any date the ratio is to be tested.
Ratio of Debt to Tangible Net Worth. Borrower will maintain at all times during the term of this Loan Agreement its ratio of Debt (as defined below) to Tangible Net Worth (as defined below) at not more than 4.5:1. "Debt" shall mean on a consolidated basis (i) all items of indebtedness or liability which in accordance with generally accepted accounting principles would be included in determining total liabilities as shown on the liabilities side of a balance sheet except for Debt which is expressly subordinate to the obligation created hereunder, (ii) indebtedness secured by any mortgage, pledge, lien or security interest existing on property owned by Borrower, whether or not the indebtedness secured thereby shall have been assumed, and (iii) guaranties and endorsements (other than for purposes of collection in the ordinary course of business) by Borrower and other contingent obligations of Borrower in respect of, or to purchase or otherwise acquire, indebtedness of others except for warranties provided by the Borrower in connection with the sale of its products in the ordinary course of business. "Tangible Net Worth" means the excess of:
Ratio of Debt to Tangible Net Worth. The Borrower will maintain at all times the ratio of its Debt to Tangible Net Worth, determined as of the end of each fiscal quarter of the Borrower, at not more than 1.5 to 1 for each month during the term of this Agreement.
Ratio of Debt to Tangible Net Worth. During the term of this Agreement, Borrowers and its Subsidiaries shall not permit the ratio their (a) Senior Debt to (b) Tangible Net Worth, on a consolidated basis, to be greater than 2.5:1.0, which determination shall be made on the last day of each month.
Ratio of Debt to Tangible Net Worth. The Company shall maintain the ratio of its total liabilities to its Tangible Net Worth, all determined on a consolidated basis, at levels not greater than those shown in the following table during the periods indicated: Period Ratio from the dated of the Eighth Amendment and until October 7, 1995 2.00 to 1.00 at October 7, 1995, and until fiscal year-end 1995 2.25 to 1.0 at fiscal year-end 1995 2.00 to 1.0 For purposes of testing compliance with this covenant, the term "liabilities: shall include the present value of all capital lease obligations of the Company, determined as of any date the ratio is to be tested.
Ratio of Debt to Tangible Net Worth. Borrower and Guarantor, on a consolidated basis, shall maintain at all times its ratio of Debt (as defined below) to Tangible Net Worth (as defined below) at not more than 1.50 to 1.00. “Debt” shall mean (i) all items of indebtedness or liability which in accordance with generally accepted accounting principles or federal tax law would be included in determining total liabilities as shown on the liabilities side of a balance sheet, (ii) indebtedness secured by any mortgage, pledge, lien or security interest existing on property owned by Borrower and Guarantor, whether or not the indebtedness secured thereby shall have been assumed, and (iii) guaranties and endorsements (other than for purposes of collection in the ordinary course of business) by Borrower or Guarantor and other contingent obligations of Borrower or Guarantor in respect of, or to purchase or otherwise acquire, indebtedness of others. “Tangible Net Worth” means the excess of:
