Certain Financial Tests. The Company covenants that it will not permit (i) Net Loans Receivable at any time to be less than 150% of Senior Funded Debt of the Company and its Subsidiaries as at such time; or (ii) at any time the aggregate consolidated Loan Loss Provision for the Company and its Subsidiaries for the period of 12 consecutive fiscal months to and through the most recently ended fiscal month as of such time to exceed an amount equal to 3% of the Net Loans Receivable of the Company and its Subsidiaries as of such time; or (iii) at any time Earnings Before Interest and Taxes for the period of 12 consecutive fiscal months to and through the most recently ended fiscal month as of such time to be less than 150% of Interest Charges for such period.
Appears in 2 contracts
Sources: Note Agreement (PMC Capital Inc), Note Agreement (PMC Capital Inc)