Total Liabilities-Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter, a ratio of Total Liabilities to Tangible Net Worth of not more than 0.50 to 1.00.
Total Liabilities-Tangible Net Worth. As of the last Saturday of each month through May 29, 1999, Borrower shall maintain a ratio of Total Liabilities to Tangible Net Worth, of no greater than 2.60 to 1.0. Thereafter, as of the last Saturday of each month through August 28, 1999, Borrower shall maintain a ratio of Total Liabilities to Tangible Net Worth, of no greater than 2.25 to 1.0. Thereafter, as of the last Saturday of each month through November 27, 1999, Borrower shall maintain a ratio of Total Liabilities to Tangible Net Worth, of no greater than 2.0 to 1.0. Thereafter, as of the last Saturday of each month, Borrower shall maintain, on a monthly basis, a ratio of Total Liabilities to Tangible Net Worth, of no greater than 1.75 to 1.0.
Total Liabilities-Tangible Net Worth. Beginning January 1, 2000 (and measured at the end of the month), Viewlocity, Inc. shall maintain, as of the last day of each calendar month, a ratio of Total Liabilities to Tangible Net Worth of not more than 1.00 to 1.00.
Total Liabilities-Tangible Net Worth. Borrowers shall maintain, as of the last day of each calendar quarter beginning with the quarter ending March 31, 2001, a ratio of Total Liabilities to Tangible Net Worth of not more than 0.75 to 1.00.
Total Liabilities-Tangible Net Worth. Borrower will maintain, at ------------------------------------ all times, a ratio of (a) total liabilities (excluding any Subordinated Debt), to (b) Tangible Net Worth of not greater than 1.75 to 1.0. As used herein, the term "Tangible Net Worth" means, as of any date, Borrower's ------------------ total assets excluding all intangible assets, less total liabilities ---- excluding any Subordinated Debt. As used herein, the term "Subordinated ------------ Debt" means any indebtedness owing by Borrower which has been subordinated ---- by written agreement to all indebtedness now or hereafter owing by Borrower to Bank, such agreement to be in form and substance reasonably acceptable to Bank.
Total Liabilities-Tangible Net Worth. Borrower shall maintain, as of the last day of each calendar month, a ratio of Total Liabilities to Tangible Net Worth, excluding earned revenue, of not more than 1.25 to 1.00 beginning October 31, 1999; provided, however, if an additional $2,000,000 is raised at the time of the Equity Event, then the date for measurement forth above shall be January 31, 2000. Compliance with this covenant may be additionally extended beyond January 31, 2000 if equity or subordinated debt over the sum of the $12,000,000 (Equity Event plus Five Million Dollars) is obtained by Borrower. Each additional $1,000,000 shall result in an extension for compliance of one month. Upon completion of the IPO, compliance shall be on a quarterly basis.
Total Liabilities-Tangible Net Worth. Borrower shall maintain, as of the last day of each fiscal quarter of Borrower, a ratio of Total Liabilities to Tangible Net Worth of not more than 2.00 to 1.00. The Compliance Certificate to be delivered after the date of this Amendment shall be in the form of Exhibit D hereto. As a condition precedent to the effectiveness of this Amendment, Borrower shall pay to Bank, on the date of this Amendment, a Facility Fee equal to $18,125. If, from the date of this Amendment through 90 days after the date of this Amendment, Borrower has transferred at least Twenty Million Dollars ($20,000,000) to one or more deposit accounts with Bank, Borrower shall not be liable for any additional Facility Fee. If, from the date of this Amendment through 90 days after the date of this Amendment, Borrower has transferred an amount equal to Zero Dollars ($0) or any amount less than Twenty Million Dollars ($20,000,000) to one or more deposit accounts with Bank, Borrower shall pay to Bank, within 90 days after the date of this Amendment, an additional Facility Fee equal to $18,125. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all promissory notes, guaranties, security agreements, mortgages, deeds of trust, environmental agreements, and all other instruments, documents and agreements entered into in connection with the Agreement. Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following: this Amendment, duly executed by Borrower; Corporate Resolutions to Borrow; payment of the fees then ...
Total Liabilities-Tangible Net Worth. Borrower shall maintain at all times, measured as of the last day of each calendar month, on a consolidated basis, a ratio of Total Liabilities to Tangible Net Worth of not more than (a) 1.25 to 1.00 for the months ending March 31, 2004 through July 31, 2004; (b) 1.00:1.00 for the months ending August 31, 2004 through October 31, 2004; and (c) 0.75:1.00 for the months ending November 30, 2004 and thereafter.
Total Liabilities-Tangible Net Worth. Permit the ratio of its ------------------------------------ Total Liabilities to Tangible Net Worth to be greater than (i) 3.00 to 1.00 at any time up through and including fiscal quarter ending December 31, 1999, (ii) 2.00 to 1.00 at any time subsequent to fiscal quarter ending December 31, 1999, but up through and including fiscal quarter ending December 31, 2000, and (iii) 1.25 to 1.00 at any time subsequent to fiscal quarter ending December 31, 2000. This covenant shall be tested quarterly.
Total Liabilities-Tangible Net Worth. A ratio of Total Liabilities to Tangible Net Worth ("Leverage") of not more than 2.00 to 1.00.
