QUICK ASSET RATIO definition
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 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).
More Definitions of QUICK ASSET RATIO
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 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 0.9 to 1.0. TANGIBLE NET WORTH:Borrower shall maintain a tangible net worth of not less than $12,300,000, plus 50% of the net proceeds of any equity financing of Borrower that closes after the date hereof.
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, Parent shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.75 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 effective as of June 28, 1995 to read as follows:
QUICK ASSET RATIO. Borrower shall maintain a ratio of "Quick Assets" to current liabilities of not less than 1.25 to 1. TANGIBLE NET Borrower shall maintain a tangible net worth of not less WORTH: than $4,000,000. DEBT TO TANGIBLE Borrower shall maintain a ratio of total liabilities to NET WORTH RATIO: tangible net worth of not more than 1.0 to 1. PROFITABILITY Borrower shall not incur a loss (after taxes) for any fiscal quarter in excess of $500,000, provided that Borrower shall not incur any loss (after taxes) for the fiscal years of 1993 and 1994.
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.