Ratio of Total Indebtedness to Tangible Net Worth. Cause to be maintained as at the end of each fiscal quarter of the Borrowers on a consolidated basis, a ratio of total Indebtedness (excluding, however, the net proceeds received by the Borrowers in connection with the issuance of the Subordinated Notes) to Tangible Net Worth of AEI and its consolidated Subsidiaries of not greater than the ratio indicated below in each case tested on a quarterly basis: Maximum Ratio of Total Indebtedness Fiscal Quarter to Tangible Net Worth Ending --------------------- ---------------
3:1 November 30, 1996 3:1 February 28, 1997 3:1 May 31, 1997 3:1 August 31,1997 3:1 November 30, 1997 and each of the Borrowers fiscal quarters thereafter"
Ratio of Total Indebtedness to Tangible Net Worth. The Lessee shall not permit the ratio of (i) aggregate consolidated Indebtedness of the Lessee and the Subsidiaries (determined in accordance with GAAP) to (ii) Consolidated Tangible Net Worth to exceed 0.5 to 1.0 as of the last day of each fiscal quarter.
Ratio of Total Indebtedness to Tangible Net Worth. (i) The aggregate consolidated Indebtedness* of the Lessee and its Subsidiaries (determined in accordance with GAAP) is $ .
(ii) Consolidated Tangible Net Worth* is $ .
(iii) The ratio of (i) above to (ii) above is to . [Refer to Section 32.6(c) of the Lease to determine compliance.] * Refer to the definition of this term in Appendix 1 to the Lease.
Ratio of Total Indebtedness to Tangible Net Worth. The ratio of the Borrower’s and New Century’s Total Indebtedness to Tangible Net Worth, determined on a joint basis, is not greater than 10:1 as of the last day of each fiscal quarter. NCFC will not permit (i) the Quarterly Average Leverage Ratio for any period of measurement to be greater than 12:1 or (ii) the ratio of Total Indebtedness to Tangible Net Worth as of the last day of each fiscal quarter to be greater than 12:1.
Ratio of Total Indebtedness to Tangible Net Worth. The Company will not permit the ratio of its Total Indebtedness to the sum of its Tangible Net Worth, calculated at the same point in time, to be at any time more than 1.99 to 1.00.
Ratio of Total Indebtedness to Tangible Net Worth. The Guarantor will not permit its ratio of Total Indebtedness to Tangible Net Worth as of the last day of each fiscal quarter to be greater than 12:1.
Ratio of Total Indebtedness to Tangible Net Worth. Commencing ------------------------------------------------- December 31, 1997, the Borrower shall maintain as of such date and at all times thereafter a ratio of total Indebtedness (excluding the Subordinated Debt) to Tangible Net Worth of less than 1.10 to 1.0.
Ratio of Total Indebtedness to Tangible Net Worth. The Borrower will not permit the ratio of its Total Indebtedness to the sum of its Tangible Net Worth, calculated at the same point in time, to be at any time more than 1.99 to 1.00.
Ratio of Total Indebtedness to Tangible Net Worth. The Guarantor will at all times, maintain a ratio of Total Indebtedness to Tangible Net Worth as of the last day of each fiscal quarter of not greater than 13:1.
(e) Subsection 5.11 of the Agreement is hereby deleted in its entirety and replaced with the following new Subsection:
Ratio of Total Indebtedness to Tangible Net Worth. The ratio of Borrower's Total Indebtedness to Tangible Net Worth, as measured on the last day of each month (commencing June 30, 2000), shall not exceed a ratio of 3.0 to 1.00.
