Ratio of Total Liabilities to Net Worth. At all times, the ratio of the Debt of Bluegreen Corporation determined in accordance with GAAP consistently applied on a consolidated basis, and not including but not limited to contingent liabilities, to its Net Worth shall not exceed 2.5:1.
Ratio of Total Liabilities to Net Worth. At all times, the ratio of the Debt of the Guarantor determined in accordance with GAAP consistently applied on a consolidated basis, and including but not limited to contingent liabilities, to its Net Worth shall not exceed 2.5:1.
Ratio of Total Liabilities to Net Worth. The Companies shall maintain an aggregate ratio of total liabilities excluding non-recourse debt to Net Worth, calculated in accordance with generally accepted accounting principles consistently applied, of not greater than 1.5 to 1.0.
Ratio of Total Liabilities to Net Worth. Section 8.1 (b) of the Agreement shall be deleted and shall be replaced by the following provision:
Ratio of Total Liabilities to Net Worth. The ratio of (a) Total Liabilities to (b) Net Worth shall be, as of the last day of each fiscal quarter, equal to or less than the ratio of 1.25 to 1.
Ratio of Total Liabilities to Net Worth. Borrowers' ratio of Total Liabilities to Net Worth shall be tested quarterly upon Bank's receipt of Borrowers' quarterly consolidated Financial Statements;
Ratio of Total Liabilities to Net Worth. (1) Permit the Company's ratio of total liabilities (including outstanding letters of credit) to tangible net worth or the Company's ratio of consolidated total liabilities (including outstanding letters of credit) to consolidated tangible net worth to be more than: (i) as of the last day of each calendar quarter ending prior to the consummation of the CMI/USIP Acquisitions, 3.00:1.00, (ii) if the consummation of the CMI/USIP Acquisitions shall have occurred prior to such date, as of September 30, 1998, 6.50:1.00, (iii) if the Consummation of the CMI/USIP Acquisitions shall have occurred prior to such date, as of December 31, 1998, 3.70:1.00, and (iv) if the consummation of the CMI/USIP Acquisition shall have occurred, as of the last day of each calendar quarter commencing March 31, 1999, 3.00:1.00; or
(2) permit the Company's ratio of total liabilities (excluding outstanding letters of credit) to tangible net worth or the Company's ratio of consolidated total liabilities (excluding outstanding letters of credit) to consolidated tangible net worth to be more than: (i) as
Ratio of Total Liabilities to Net Worth. The Guarantor and its Subsidiaries (including the Borrower) will maintain at all times the ratio of its Total Liabilities to Net Worth of not more than the ratio set forth below opposite the applicable period set forth below: Applicable Period Ratio ----------------- ------------ From the date of the Loan Agreement through December 31, 2000 5.00 to 1.00 From January 1, 2001 through December 31, 2001 4.50 to 1.00 From and after January 1, 2002 4.00 to 1.00
Ratio of Total Liabilities to Net Worth. (1) Permit the Company's ratio of consolidated Total Liabilities (including Outstanding Letters of Credit) to consolidated Tangible Net Worth to be more than: (i) as of September 30, 1998, 6.90:1.00, (ii) as of December 31, 1998, 4.90:1.00, and (iii) as of the last day of each calendar quarter thereafter, 3.00:1.00; or
(2) Permit the Company's ratio of consolidated Total Liabilities (excluding Outstanding Letters of Credit) to consolidated Tangible Net Worth to be more than: (i) as of September 30, 1998, 6.50:1.00, (ii) as of December 31, 1998, 4.75:1.00, (iii) as of March 31, 1999, June 30, 1999, September 30, 1999 and December 31, 1999, 2.75:1.00, and (iv) as of the last day of each calendar quarter thereafter, 2.00:1.00.
Ratio of Total Liabilities to Net Worth. From and after the date of this Agreement through September 29, 1997, the Borrower will not permit its ratio of (i) total liabilities to (ii) tangible net worth to be greater than 10.0 to 1 at any time. From and after September 30, 1997 through December 30, 1997, the Borrower will not permit its ratio of (i) total liabilities to (ii) tangible net worth to be greater than 9.0 to 1 at any time. Beginning December 31, 1997, and at all times thereafter during the term of this Agreement, the Borrower will not permit its ratio of (i) total liabilities to (ii) tangible net worth to be greater than 8.0 to 1 at any time. As used in this Section, "tangible net worth" shall have the meaning as defined in Section 6.07 hereof.
