Adjusted Current Ratio. The ratio of the current assets (determined ---------------------- in accordance with GAAP) to the current liabilities (determined in accordance with GAAP except that the amount of any Permitted Subordinated Indebtedness shall be excluded from the determination thereof) of Borrower at any date shall not be less than 1.02 to 1.0 at any time.
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Sources: Loan Agreement (NVR Inc)
Adjusted Current Ratio. The ratio of the current assets ---------------------- (determined ---------------------- in accordance with GAAP) to the current liabilities (determined in accordance with GAAP except that the amount of any Permitted Subordinated Indebtedness shall be excluded from the determination thereof) of Borrower at any date shall not be less than 1.02 to 1.0 at any time.
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