QUICK ASSET RATIO. Borrower shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.25 to 1.
QUICK ASSET RATIO. Parent shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.00 to 1.
QUICK ASSET RATIO. Not at any time less than 1.0 to 1.0. ("Quick Asset Ratio" means "Quick Assets" divided by total current liabilities, and "Quick Assets" means cash on hand or on deposit in banks, readily marketable securities issued by the United States, readily marketable commercial paper rated "A-1" by Standard & Poor's Corporation [or a similar rating by a similar rating organization], certificates of deposit and banker's acceptances, and accounts receivable [net of allowance for doubtful accounts].)
Examples of QUICK ASSET RATIO in a sentence
Compliance shall be determined as of the end of each fiscal quarter, except as otherwise specifically provided below: QUICK ASSET RATIO: Borrower shall maintain a ratio of "Quick Assets" to current liabilities of not less than 3.5 to 1.
Compliance shall be determined as of the end of each quarter, except as otherwise specifically provided below: QUICK ASSET RATIO: Parent Company shall maintain a ratio of "Quick Assets" to current liabilities of not less than 2.50 to 1.
More Definitions of QUICK ASSET RATIO
QUICK ASSET RATIO. Parent shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.50 to 1 through and including the end of the Parent's first fiscal quarter of 1995 on October 2, 1994. Thereafter, through and including the end of the Parent's third fiscal quarter of 1995 on April 2, 1995, Parent shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.75 to 1 period ending. Thereafter, Parent shall maintain a ratio of "Quick Assets" to current liabilities of not less than 2.00 to 1.
QUICK ASSET RATIO means, as to the Borrower and its Consolidated Affiliates, as of any date, the ratio of (i) the sum of (a) cash on hand or on deposit in banks, (b) readily marketable securities issued by the United States, (c) readily marketable commercial paper rated "A-2" or better by S&P (or having a similar rating by any similar organization which rates commercial paper), (d) certificates of deposit or banker's acceptances issued by commercial banks of recognized standing operating in the United States, and (e) accounts receivable to (ii) the sum of (a) Consolidated Current Liabilities and (b) to the extent not included in Consolidated Current Liabilities, the outstanding Revolving Credit Loans.
QUICK ASSET RATIO. Borrower shall maintain a ratio of "Quick Assets" to current liabilities of not less than .60 to 1 starting with the month ending June 30, 1996 through and including the month ending September 30, 1996; thereafter, Borrower shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.50 to 1.
QUICK ASSET RATIO. Borrower shall maintain a ratio of "Quick Assets" to current liabilities of not less than 2.00 to 1. TANGIBLE NET WORTH: Borrower shall maintain a tangible net worth of not less than $22,500,000. DEBT TO TANGIBLE Borrower shall maintain a ratio of total NET WORTH RATIO: liabilities to tangible net worth of not more than 1.00 to 1.
QUICK ASSET RATIO financial covenant set forth in the section of the Schedule to Loan Agreement entitled "Financial Covenants (Section 4.1)" is hereby amended to read as follows:
QUICK ASSET RATIO means "Quick Assets" divided by total current liabilities, and "QUICK ASSETS" means cash on hand or on deposit in banks, readily marketable securities issued by the United States, readily marketable commercial paper rated "A-1" by Standard & Poor's Corporation (or a similar rating by a similar rating organization), certificates of deposit and banker's acceptances, and accounts receivable (net of allowance for doubtful accounts).] - PRE-TAX PROFIT. Not less than $1.00 on a quarterly basis (determined as of each fiscal quarter end) based on the sum of the results of two consecutive quarters consisting of the present quarter and the preceding quarter.
QUICK ASSET RATIO means “Quick Assets” divided by Funded Debt, and “Quick Assets” means cash on hand or on deposit in banks, readily marketable securities issued by the United States, readily marketable commercial paper rated “A-1” by Standard & Poor’s Corporation (or a similar rating by a similar rating organization), certificates of deposit and banker’s acceptances, and accounts receivable (net of allowance for doubtful accounts). “Funded Debt” means outstanding amounts under Revolving Credit Facility whether classified as a short or long-term liability on Borrower’s financial statement.