Common use of Asset Test Clause in Contracts

Asset Test. The ratio of the sum of consolidated accounts receivable and inventories subject to a first priority perfected security interest in favor of the Collateral Agent pursuant to the Guarantee and Collateral Agreement (and, in any event, exclusive of any then outstanding amounts secured by a security interest on inventory permitted by Section 6.3(f)) to Consolidated Funded Indebtedness as at the end of any Fiscal Quarter to be less than the amount set forth in the table below: FISCAL QUARTER ENDING RATIO ----------------------------------------------------------- ------------ December 31, 2003, March 31, 2004, June 30, 2004 and September 30, 2004 1.10 to 1.0 December 31, 2004, March 31, 2005 and June 30, 2005 1.20 to 1.0 September 30, 2005 and any Fiscal Quarter ending thereafter 1.35 to 1.0"

Asset Test. The ratio of the sum of consolidated accounts receivable and inventories subject to a first priority perfected security interest in favor of the Collateral Agent pursuant to the Guarantee and Collateral Agreement (and, in any event, exclusive of any then outstanding amounts secured by a security interest on inventory permitted by Section 6.3(f)) to Consolidated Funded Indebtedness as at the end of any Fiscal Quarter to be less than the amount set forth in the table below: FISCAL QUARTER ENDING RATIO ----------------------------------------------------------- ------------------------------------------------------------ ------------ December 31, 2003, March 31, 2004, June 30, 2004 and September 30, 2004 1.10 to 1.0 December 31, 2004, March 31, 2005 and June 30, 2005 1.20 to 1.0 September 30, 2005 and any Fiscal Quarter ending thereafter 1.35 to 1.0"

Asset Test. The ratio of the sum of consolidated accounts receivable and inventories subject to a first priority perfected security interest in favor of the Collateral Agent pursuant to the Guarantee and Collateral Agreement (and, in any event, exclusive of any then outstanding amounts secured by a security interest on inventory permitted by Section 6.3(f)) to Consolidated Funded Indebtedness as at the end of any Fiscal Quarter to be less than the amount set forth in the table below: FISCAL QUARTER ENDING RATIO ----------------------------------------------------------- ------------ December 31, 2003, March 31, 2004, June 30, 2004 and --------------------- ----- September 30, 2004 1.10 to 1.0 2005, December 31, 2004, March 31, 2005 and June 30March 31, 2005 2006 1.20 to 1.0 September 30, 2005 and any Fiscal Quarter ending thereafter 1.35 1.25 to 1.0"