Ratio of Total. Unsubordinated Liabilities to Tangible Net Worth. Permit the ratio of Total Unsubordinated Liabilities to Tangible Net Worth, as of the last day of any fiscal quarter of Borrowers and their Subsidiaries to be greater than 1.75:1.00.
Ratio of Total. Funded If Determining a If Determining a Debt to EBITDA Prime-based Rate LIBOR-based Rate --------------------- ---------------- ---------------- 3.50 or above 0.875% 2.75% 3.00 to 3.49 0.625% 2.375% 2.50 to 2.99 0.375% 2.125% 2.00 to 2.49 0% 1.75% less than 2.00 0% 1.50% The Applicable Spread shall be determined on the Third Amendment Effective Date on the basis of the Ratio of Total Funded Debt to EBITDA for the Credit Parties and their respective Subsidiaries in effect on the Third Amendment Effective Date, as provided in the definition of "Applicable LOC Fee Percentage" in this Agreement, and shall be redetermined, based on the Ratio of Total Funded Debt to EBITDA as of the close of each fiscal quarter of the Company ending after June 30, 2003, concurrently with each adjustment to the "Ratio of Total Funded Debt to EBITDA" (as provided in the definition of Ratio of Total Funded Debt to EBITDA in this Agreement), with such redetermined Applicable Spread be effective as and for the period provided in the definition of "Ratio of Total Funded Debt to EBITDA."
Ratio of Total. Debt to EBITDA Margin ----------------------------- ------
Ratio of Total. Unencumbered Assets to Total ------------------------------------------- Unsecured Indebtedness. ----------------------
Ratio of Total. Funded Debt to Total Capital. Guarantor shall maintain on a consolidated basis with all Subsidiaries a
Ratio of Total. Funded Debt If determining If determining to EBITDA a LIBOR-based Rate a Prime-based Rate --------- ------------------ ------------------
Ratio of Total. Liabilities to Tangible Net Worth Margin --------------------- ------ Between 1.5 to 1 and 2 to 1 2.25% Between 1 to 1 and 1.5 to 1 2.00% Below 1.00 to 1 1.75%
Ratio of Total. Unsecured Indebtedness to Unencumbered Asset Value: %
Ratio of Total. FUNDED DEBT TO CAPITALIZATION. For the four fiscal quarters ending on December 31, 1999, March 31, 2000, June 30, 2000, and September 30, 2000, the Borrower will not permit its ratio of Total Funded Debt to Capitalization to be greater than .65 to 1.0. For the one fiscal quarter ending on December 31, 2000, the Borrower will not permit its ratio of Total Funded Debt to Capitalization to be greater than .625 to 1.0. For each fiscal quarter thereafter, the Borrower will not permit its ratio of Total Funded Debt to Capitalization as of the end of any fiscal quarter to be greater than .60 to 1.0."
Ratio of Total. Liabilities to Net Worth. At all times, the ratio of the Debt of Bluegreen Corporation determined in accordance with GAAP consistently applied on a consolidated basis, not including non-recourse, receivables-backed debt of up to $500 million and not including, but not limited to, contingent liabilities, to its Net Worth shall not exceed 2.5:1.
