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.
Ratio of Total Liabilities to Net Worth. At all times, the ratio of the Debt of the Guarantor determined in accordance with GAAP consistently applied on a consolidated basis, and including but not limited to contingent liabilities, to its Net Worth shall not exceed 2.5:1.
Ratio of Total Liabilities to Net Worth. The Companies shall maintain an aggregate ratio of total liabilities excluding non-recourse debt to Net Worth, calculated in accordance with generally accepted accounting principles consistently applied, of not greater than 1.5 to 1.0.
Ratio of Total Liabilities to Net Worth. The ratio of Total Liabilities to Net Worth of the Borrower as of the end of each fiscal quarter of the Borrower, to be more than 2.5 to 1;
Ratio of Total Liabilities to Net Worth. (1) Permit the Company's ratio of consolidated Total Liabilities (including Outstanding Letters of Credit) to consolidated Tangible Net Worth to be more than: (i) as of September 30, 1998, 6.90:1.00, (ii) as of December 31, 1998, 4.90:1.00, and (iii) as of the last day of each calendar quarter thereafter, 3.00:1.00; or (2) Permit the Company's ratio of consolidated Total Liabilities (excluding Outstanding Letters of Credit) to consolidated Tangible Net Worth to be more than: (i) as of September 30, 1998, 6.50:1.00, (ii) as of December 31, 1998, 4.75:1.00, (iii) as of March 31, 1999, June 30, 1999, September 30, 1999 and December 31, 1999, 2.75:1.00, and (iv) as of the last day of each calendar quarter thereafter, 2.00:1.00.
Ratio of Total Liabilities to Net Worth. The ratio of (a) Total Liabilities to (b) Net Worth shall be, as of the last day of each fiscal quarter, equal to or less than the ratio of 1.25 to 1.
Ratio of Total Liabilities to Net Worth. (1) Permit the Company's ratio of total liabilities (including outstanding letters of credit) to tangible net worth or the Company's ratio of consolidated total liabilities (including outstanding letters of credit) to consolidated tangible net worth to be more than: (i) as of the last day of each calendar quarter ending prior to the consummation of the CMI/USIP Acquisitions, 3.00:1.00, (ii) if the consummation of the CMI/USIP Acquisitions shall have occurred prior to such date, as of September 30, 1998, 6.50:1.00, (iii) if the Consummation of the CMI/USIP Acquisitions shall have occurred prior to such date, as of December 31, 1998, 3.70:1.00, and (iv) if the consummation of the CMI/USIP Acquisition shall have occurred, as of the last day of each calendar quarter commencing March 31, 1999, 3.00:1.00; or (2) permit the Company's ratio of total liabilities (excluding outstanding letters of credit) to tangible net worth or the Company's ratio of consolidated total liabilities (excluding outstanding letters of credit) to consolidated tangible net worth to be more than: (i) as
Ratio of Total Liabilities to Net Worth. The ratio of (a) the Borrower's Total Liabilities to (b) Net Worth, for the three month period ending on the last day of each quarter indicated below, shall not exceed the ratio set forth opposite such period: Three Month Period ------------------ Ending the Following Quarter Ends Ratio --------------------------------- ----- June 30, 2000, September 30, 2000, 1.4:1 December 31, 2000, March 31, 2001 and June 30, 2001 September 30, 2001, December 31, 2001, 1.35:1 March 31, 2002 and June 30, 2002 Each Quarter End Thereafter 0.00:0
Ratio of Total Liabilities to Net Worth. Section 8.1(b) of the Agreement shall be deleted and shall be replaced by the following provision:
Ratio of Total Liabilities to Net Worth. Allow the ratio of (i) Total Liabilities to (ii) Net Worth of Borrower at any time, to be greater than 1.25 to 1.00.
