Modified Current Ratio definition

Modified Current Ratio means, with respect to American Vanguard and its Subsidiaries, as of any date, the ratio of (a) trading accounts receivable and inventory (disregarding any inventory that would result in the ratio of inventory to trading accounts receivable exceeding 1.35 to 1.00) to (b) the aggregate amount of outstanding Revolving Loans, Swing Line Loans and L/C Obligations.
Modified Current Ratio means, as of any date for American Vanguard and its Subsidiaries on a consolidated basis, the ratio of (1) trading accounts receivable and inventory to (2) the aggregate amount of the outstanding Revolving Loans, unpaid L/C Drawings, and Outstanding Letters of Credit; provided, however, that in calculating the Modified Current Ratio for the fiscal quarters ending March 31, 2004 and June 30, 2004, the “amount of the outstanding Revolving Loans” shall be deemed reduced by the lesser of (a) the actual dollar amount of outstanding Revolving Loans and (b) $10,000,000.00.”
Modified Current Ratio as of any date of determination, the ratio, determined on a consolidated basis for Holdco and its Subsidiaries, of (a)(i) Accounts owned by Holdco and its Subsidiaries, plus (ii) Inventory owned by Holdco and its Subsidiaries, to (b) Funded Debt of Holdco and its Subsidiaries.

Examples of Modified Current Ratio in a sentence

  • Borrower shall pay Lender an unused commitment fee (“Unused Commitment Fee”) equal to the product of (i) the applicable percentage specified in Section 3.4 above that corresponds to the Modified Current Ratio or Current Ratio, times (ii) the actual daily amount by which the Commitment exceeds the actual daily amount of Commitment outstanding.

  • Applicable Margin" means the following percentages per annum, based upon Borrower’s Modified Current Ratio or Current Ratio, as set forth in the most recent Combined Covenant Compliance Certificate received by the Lender pursuant to Section 12.1 below.

  • That is why it is of extreme importance that both parts negotiate with each other their agenda, in order to generate benefits for both.The lack of communication between both parts seems to be the major treat for the failure of this cooperation business model.

  • Modified Current Ratio < 1.00:1 LIBOR + 2.35% 0.25% Modified Current Ratio ≥ 1.00:1 LIBOR + 2.10% 0.20% Modified Current Ratio ≥ 1.10:1 LIBOR + 1.85% 0.15% Current Ratio ≥ 1.25:1 LIBOR + 1.60% 0.15% Modified Current Ratio means Modified Current Assets divided by Current Liabilities.

  • Modified Current Ratio ≤ 1.00:1 LIBOR + 2.35% 0.25% Modified Current Ratio ≥ 1.00:1 LIBOR + 2.10% 0.20% Modified Current Ratio ≥ 1.10:1 LIBOR + 1.85% 0.15% Current Ratio ≥ 1.25:1 LIBOR + 1.75% 0.15% Modified Current Ratio means Modified Current Assets divided by Current Liabilities.

  • Commencing on the Fiscal Quarter ended September 30, 2024, maintain a Modified Current Ratio of at least 1.50:1.00 measured at the end of each Fiscal Quarter.

  • Applicable Margin" means the following percentages per annum, based upon Borrower’s Modified Current Ratio or Current Ratio, as set forth in the most recent Combined Compliance Certificate received by the Lender pursuant to Section 12.1 below.


More Definitions of Modified Current Ratio

Modified Current Ratio means a ratio of (a) Quick Assets plus Inventory (valued at cost) to (b) Current Liabilities minus Deferred Revenue.
Modified Current Ratio means Modified Current Assets divided by Current Liabilities. Modified Current Assets are defined as Current Assets plus the remaining available commitment on the Loan.

Related to Modified Current Ratio

  • Consolidated Current Ratio means, as of any date of determination, the ratio of Consolidated Current Assets to Consolidated Current Liabilities as of such date.

  • Current Ratio means the ratio of Current Assets to Current Liabilities.

  • Consolidated Current Assets means, as at any date of determination, the total assets of Company and its Subsidiaries on a consolidated basis which may properly be classified as current assets in conformity with GAAP, excluding Cash and Cash Equivalents.

  • Current Loan-to-Value Ratio The Principal Balance of a Mortgage Loan as of the applicable date of substitution divided by the Appraised Value.

  • Consolidated Current Liabilities means, as at any date of determination, the total liabilities of Holdings and its Subsidiaries on a consolidated basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current portion of long term debt.

  • Liquidity Ratio means, for any date of determination, the ratio of (a)(i) the aggregate amount of unrestricted and unencumbered cash (other than Liens in favor of Bank) held at such time by Borrower in Deposit Accounts maintained with Bank, plus (ii) accounts receivable determined according to GAAP for the Borrower and its consolidated Subsidiaries, divided by (b) the principal amount of outstanding Credit Extensions.

  • Net Current Assets means for any date of determination the net current assets of such Person at such date of determination calculated as set forth on Exhibit H attached hereto.

  • Pricing Ratio on any date, the ratio of Consolidated Total Debt on such date to Annualized Borrower EBITDA for the fiscal quarter most recently ended prior to such date.

  • Debt to Capitalization Ratio means the ratio of (a) Consolidated Funded Debt to (b) Consolidated Capitalization.

  • Percentage Ratio means with respect to a Trust, the percentage relationship among the Securities based on the number of contracts of each Option per Unit, the principal amount of each Bond per Unit and the number of shares of each Equity Security per Unit compared to all Securities attributable to each Unit existing immediately prior to the related additional deposit of Securities. The Percentage Ratio shall be adjusted to the extent necessary, and may be rounded, to reflect the occurrence of a stock dividend, a stock split or a similar event which affects the capital structure of the issuer of a security."

  • Combined Loan-to-Value Ratio or CLTV As of any date and as to any Second-Lien Mortgage Loan, the ratio (expressed as a percentage) of the (a) sum of (i) the outstanding principal balance of the Second-Lien Mortgage Loan and (ii) the outstanding principal balance as of such date of any mortgage loan or mortgage loans that are senior or equal in priority to the Second-Lien Mortgage Loan and which are secured by the same Mortgaged Property to (b)

  • Appraised Current Market Value of any Aircraft means the lower of the average and the median of the three most recent Post-Default Appraisals of such Aircraft.

  • Combined Loan-to-Value Ratio As to any Second Lien Mortgage Loan at any date of determination, the ratio (expressed as a percentage) of the principal balance of such Mortgage Loan at the date of determination, plus the principal balance of any Superior Lien based upon the most recent information available to the Servicer, to (a) in the case of a purchase, the lesser of the sales price of the Mortgaged Property and its appraised value at the time of sale, or (b) in the case of a refinancing or modification, the appraised value of the Mortgaged Property at the time of such refinancing or modification.

  • Loan-to-Value Ratio or LTV With respect to any Mortgage Loan, the ratio of the Stated Principal Balance of the Mortgage Loan as of the related Cut-off Date (unless otherwise indicated) to the lesser of (a) the Appraised Value of the Mortgaged Property and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price of the Mortgaged Property, expressed as a percentage.

  • Loan-to-Value Ratio With respect to any Mortgage Loan and as to any date of determination, the fraction (expressed as a percentage) the numerator of which is the principal balance of the related Mortgage Loan at such date of determination and the denominator of which is the Appraised Value of the related Mortgaged Property.

  • Consolidated Adjusted Net Worth means, as of any date of determination thereof, the Consolidated Net Worth less the total amount of all Restricted Investments in excess of 20% of Consolidated Net Worth, each as of such date of determination.

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Adjustment ratio means the value of index A divided by index

  • Consolidated Adjusted Debt means, at any time, the sum of, without duplication, (i) Consolidated Funded Indebtedness and (ii) the product of Consolidated Rents multiplied by 6.0.

  • Funding Ratio means: (a) for a Governmental Plan Investor or other plan not covered by clause (b) below, the total net fair market value of the assets of the plan over the actuarial present value of the plan’s total benefit liabilities, as reported in such plan’s most recent audited financial statements; and (b) for a Pension Plan Investor that is subject to Form 5500 – series reporting requirements, the funding target attainment percentage reported on Schedule SB to the Form 5500 or the funded percentage for monitoring the plan’s status reported on Schedule MB to the Form 5500, as applicable, as reported on the most recently filed Form 5500 by such Pension Plan Investor with the United States Department of Labor.

  • Original Loan-to-Value Ratio With respect to any Mortgage Loan, the ratio of the principal balance of such Mortgage Loan at origination, or such other date as is specified, to the Original Value of the related Mortgage Property.

  • Index Ratio means the Final Index Price divided by the Initial Index Price.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Interest Cover Ratio means the ratio of the Group’s consolidated EBITDA to interest expenses for the previous period of twelve (12) months.

  • percentage ratios has the meaning ascribed to it under the Listing Rules;

  • Leverage Ratio means, as of any date, the ratio of (i) Consolidated Total Debt as of such date to (ii) Consolidated EBITDA for the four consecutive Fiscal Quarters ending on or immediately prior to such date.