Total Liabilities to Net Worth Ratio. To maintain at all times on a consolidated basis a ratio of total liabilities to book net worth of not more than 1.6 to 1.0. "Total liabilities" and "book net worth" shall have the respective meanings given to such terms under GAAP.
Total Liabilities to Net Worth Ratio. The Total Liabilities ------------------------------------ to Net Worth Ratio of the Loan Agreement is hereby amended from and after the date hereof and shall read in its entirety as follows:
Total Liabilities to Net Worth Ratio. Borrower shall, from ------------------------------------- closing until fiscal year-end December 31, 2000, maintain a ratio of Total Liabilities to Net Worth of not more than 1.80 to 1.00, and thereafter, Borrower shall maintain a ratio of Total Liabilities to Net Worth of not more than 1.75 to 1.00, to be measured quarterly at each quarter's end. "Net Worth" shall mean total assets (including the investment in SI Xxxxx and Egemin) minus Total Liabilities. "Total Liabilities" shall mean all liabilities of Borrower, excluding debt fully subordinated to Bank on terms and conditions acceptable to Bank, and including capitalized leases and all reserves for deferred taxes and other deferred sums appearing on the liabilities side of a balance sheet, in accordance with generally accepted accounting principles applied on a consistent basis.
Total Liabilities to Net Worth Ratio. The Borrower will not permit, as of the end of each calendar quarter, the ratio of Consolidated Total Liabilities to Consolidated Net Worth to be greater than 1.00 to 1.00..
Total Liabilities to Net Worth Ratio. Maintain a ratio of total liabilities to total assets less total liabilities equal to or less than 2.0 to 1.0 as of the end of each fiscal year.
Total Liabilities to Net Worth Ratio. Permit, as of the end of each calendar quarter, the ratio of Consolidated Total Liabilities to Consolidated Net Worth to be more than 1.00 to 1.00.”
Total Liabilities to Net Worth Ratio. The ratio of Borrower's ------------------------------------ Total Liabilities to Borrower's Net Worth shall not be more than 12.0 to 1.0 as of the end of each calendar month.
Total Liabilities to Net Worth Ratio. At any time during each Fiscal Quarter, measured as of the last day of such Fiscal Quarter for the Fiscal Quarter then ended, the ratio of Total Liabilities to Net Worth for the Borrower and its Subsidiaries, on a consolidated basis, shall not exceed 2.5 to 1.0.
Total Liabilities to Net Worth Ratio. Permit the ratio of ------------------------------------ Consolidated Total Liabilities of ASI to Consolidated Net Worth of ASI at any time during any period set forth below to be greater than the amount set forth opposite such period below: Period Ratio ------ ----- Closing Date to 3/30/99 2.00 to 1.00 3/31/99 to 3/30/00 1.40 to 1.00 3/31/00 and thereafter 1.00 to 1.00
Total Liabilities to Net Worth Ratio. TNDE and the Subsidiaries shall maintain, at all times, a ratio of Total Liabilities less Subordinated Debt (including any preferred stock, warrants or other subordinated debt) to Net Worth plus Subordinated Debt (including any preferred stock, warrants or other subordinated debt) of not greater than the ratio set forth opposite the applicable period below: Period Ending Ratio Closing Date through December 31, 1997 2.50:1.0 Thereafter through June 30, 1998 2:25:1.0 Thereafter through December 31, 1998 2.00:1.0 Thereafter through December 31, 1999 1.75:1.0 Thereafter through December 31, 2000 1.75:1.0 Thereafter through December 31, 2001 1.75:1.0 Thereafter through the Maturity Date 1.75:1.0
