Maximum Liabilities to Tangible Net Worth. Permit the ratio of total Liabilities to Tangible Net Worth for the Borrower and its Consolidated Subsidiaries (other than GHC) at the end of any fiscal quarter: (i) from the Effective Date to and including December 30, 1997, to be greater than 16 to 1; (ii) from and including December 31, 1997 to and including December 30, 1998, to be greater than 14 to 1; and (iii) at any time thereafter, to be greater than 12 to 1.
Appears in 2 contracts
Sources: Loan and Security Agreement (International Comfort Products Corp), Loan Agreement (International Comfort Products Corp)