Common use of Leverage Covenant Clause in Contracts

Leverage Covenant. The Borrowers shall not permit the Debt to Tangible Assets Ratio of the Borrowers to be greater than the following ratios as of the following points in time: Period Ratio ------ ----- At any time after October 31, 1996 1.25 through and including May 31, 1998 At any time after June 1, 1998 1.20

Leverage Covenant. The Borrowers shall not permit the Debt to Tangible Assets Ratio of the Borrowers to be greater than the following ratios as of the following points in time: Period Ratio ------ ----- At any time after October 31, 1996 1.25 through and including May 31, 1998 At any time after June 1, 1998 1.20