Total Debt to Tangible Net Worth. As of the end of each of its fiscal quarters, the Borrower shall maintain a ratio of Total Debt to Tangible Net Worth of not greater than 1.75 to 1.00.
Total Debt to Tangible Net Worth. Maintain a Total Debt to Tangible Net Worth (defined as total liabilities divided by Tangible Net Worth defined as total book net worth plus minority interest, less due from officers/stockholders/affiliates minus intangible assets and accumulated amortization) not to exceed 4.0 to 1, to be tested quarterly.
Total Debt to Tangible Net Worth. (a) As at December 31, 2002, and as at each fiscal year end thereafter, BORROWER shall maintain the ratio of its Total Debt to its Tangible Net Worth at no more than 6.0 to 1.0.
(b) For purposes of this covenant, "Total Debt" shall include all debt owed by BORROWER, including all debt owed by BORROWER to LENDER but excluding any debt whose payment has been subordinated to the prior payment of the Liabilities. For purposes of this covenant, Tangible Net Worth shall have the meaning given that term in Section 5.19(b) above.
Total Debt to Tangible Net Worth. Permit Total Debt to Tangible Net Worth, plus Subordinated Debt, as of the end of each fiscal quarter to be greater than 4.0 to 1.
Total Debt to Tangible Net Worth. Permit Total Debt to Tangible Net Worth, plus Subordinated Debt, at any time to be greater than 3.50 to 1. Bank of the West/Green Plains Cattle Company LLC Second Amendment to the Credit Agreement
Total Debt to Tangible Net Worth. Maintain a Total Debt to Tangible Net Worth (defined as total liabilities divided by Tangible Net Worth defined as total book net worth plus minority Interest, less loan to officers/stockholders/affiliates minus Intangible assets and accumulated amortization) not to exceed 4.0 to 1, tested at the end of each fiscal quarter. Except as provided above, all computations made to determine compliance with the requirements contained In this paragraph shall be made In accordance with generally accepted accounting principles, applied on a consistent basis, and certified by Borrower as being true and correct.
Total Debt to Tangible Net Worth. The Borrower will not permit its Total Debt to Tangible Net Worth to exceed 3.00:1.00; Credit Agreement-LCD-10-02-2012 Page 20 of 62
Total Debt to Tangible Net Worth. Borrower’s Total Debt to Tangible Net Worth ratio will not exceed 1.50 to 1.00. Borrower’s Total Debt to Tangible Net Worth ratio shall be calculated and tested quarterly as of the last day of each fiscal quarter of Borrower.
Total Debt to Tangible Net Worth. The Borrower will not permit the ratio of its Total Debt to its Tangible Net Worth, calculated as of the end of each quarter, to exceed 2.75 to 1.00.
Total Debt to Tangible Net Worth. (a) As at December 31, 2007, and as at each fiscal year end thereafter, BORROWER shall maintain the ratio of its Total Debt to Tangible Net Worth at no more than 6.0 to 1.0.
(b) For purposes of this covenant, “Total Debt” shall include all amounts owed by BORROWER which are properly reflected on its balance sheet as short or long term, including all amounts owed by BORROWER to LENDER but excluding any debt whose payment has been subordinated to the prior payment of the Liabilities. For purposes of this covenant, Tangible Net Worth shall have the meaning given that term in Section 5.19(b) above.
(c) Compliance with this Section will be tested annually by reference to (and use of the consolidated sums contained in) the annual consolidated financial statements of GUARANTOR and BORROWER required to be submitted pursuant to Section 5.6 above and by using GAAP.
(d) Although compliance with this Section will be tested annually as aforesaid, nothing in the foregoing shall prevent LENDER from determining that this covenant has been violated prior to LENDER’s receipt of any of the aforementioned financial statements in the event LENDER obtains actual knowledge that BORROWER is not in compliance with this covenant.
