Common use of Current Ratio Clause in Contracts

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter ending on or after March 31, 2014, its ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, Section 6.02 hereof) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) to be less than 1.00 to 1.00.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending on or after March 31September 30, 20142017, its ratio of (i) (A) consolidated current assets of the Borrower and the Consolidated Subsidiaries (including the unused amount of the total Commitments, but excluding non-cash assets under ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, Section 6.02 hereof) to (ii) consolidated current liabilities of the Borrower and the Consolidated Subsidiaries (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending on or after March 31June 30, 20142019, its the ratio of (i) (A) consolidated current assets of the Borrower and its Consolidated Restricted Subsidiaries (excluding non-cash assets under ASC 815) plus (without duplication) (B) including the unused amount of the total Commitments (but only Commitments, to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, including Section 6.02 hereof, but excluding non-cash assets under ASC 815) as of such date to (ii) consolidated current liabilities of the Borrower and its Consolidated Restricted Subsidiaries (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) as of such date to be less than 1.00 to 1.00.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending on or after March 31, 20142017, its the Borrower’s ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) including the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, Agreement including, without limitation, Section 6.02 hereof), and excluding non-cash assets under ASC 815) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) of the Borrower to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter commencing with the fiscal quarter ending on or after March 31September 30, 2014, its the Borrower’s ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) including the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, Agreement including, without limitation, Section 6.02 hereof), and excluding non-cash assets under ASC 815) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) of the Borrower to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter beginning on the fiscal quarter ending on or after March 31September 30, 2014, its the ratio for the Borrower and the Consolidated Restricted Subsidiaries of (i) (A) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under the equivalent of ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount 815 under the terms of this Agreement, including, without limitation, Section 6.02 hereofGAAP) to (ii) consolidated current liabilities (excluding non-cash obligations under the equivalent of ASC 815 under GAAP and current maturities under this Agreement) to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter, commencing with the fiscal quarter ending on or after March 31April 30, 2014, its ratio of (i) (A) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, Section 6.02 hereof815 and current plugging and abandonment restricted cash) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815 815, current liabilities for plugging and abandonment expense and current maturities under this Agreement) to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter beginning on the fiscal quarter ending on or after March 31September 30, 20142013, its ratio of (i) (A) consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under the equivalent of ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount 815 under the terms of this Agreement, including, without limitation, Section 6.02 hereofGAAP) to (ii) consolidated current liabilities (excluding non-cash obligations under the equivalent of ASC 815 under GAAP and current maturities under this Agreement) to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter ending on or after March 31, 20142019, its ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, Section 6.02 hereof6.02) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) to be less than 1.00 to 1.00.

Current Ratio. The Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with the quarter ending on or after March December 31, 20142012, permit its ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) including the unused amount of the total Commitments (Commitments, but only to the extent that the Borrower is permitted to borrow such amount excluding non-cash current assets under the terms of this Agreement, including, without limitation, Section 6.02 hereofASC 815) to (ii) consolidated current liabilities (excluding non-cash current obligations under ASC 815 815, reclamation obligations to the extent classified as current liabilities under GAAP, and current maturities under this Agreement) to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with the quarter ending on or after March 31June 30, 2014, permit its ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) including the unused amount of the total Commitments (Commitments, but only to the extent that the Borrower is permitted to borrow such amount excluding non-cash current assets under the terms of this Agreement, including, without limitation, Section 6.02 hereofASC 815) to (ii) consolidated current liabilities (excluding non-cash current obligations under ASC 815 815, reclamation obligations to the extent classified as current liabilities under GAAP, and current maturities under this Agreement) to be less than 1.00 1.0 to 1.001.0.

Current Ratio. The Borrower will not permit, as of the last day of any fiscal quarter ending on or after March 31June 30, 20142015, its ratio of (i) (A) consolidated current assets (excluding non-cash assets under ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, Section 6.02 hereof) to (ii) consolidated current liabilities (excluding non-cash obligations under ASC 815 and current maturities under this Agreement) to be less than 1.00 to 1.00.

Current Ratio. The Borrower will not permitnot, as of the last day of any fiscal quarter, commencing with the quarter ending on or after March 31, 20142018, its permit the ratio of (i) (A) its consolidated current assets (including the unused amount of the total Commitments, but excluding non-cash assets under ASC 815) plus (without duplication) (B) the unused amount of the total Commitments (but only to the extent that the Borrower is permitted to borrow such amount under the terms of this Agreement, including, without limitation, Section 6.02 hereof) to (ii) its consolidated current liabilities (excluding non-cash obligations under ASC 815 815, and current maturities under this Agreement and the Second Lien Note Purchase Agreement) to be less than 1.00 1.0 to 1.001.0.