DEBT TO WORTH definition
DEBT TO WORTH. A ratio of total liabilities to tangible net worth of not greater than 2.75:1.0"
DEBT TO WORTH. Ratio shall mean the ratio of (a) total liabilities, less contributions in aid of construction, living unit equivalents and inter-company debt which is subordinated in payment to the Loan to (b) net worth, being total assets minus total liabilities, as determined in accordance with Generally Accepted Accounting Principles. ERISA shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time, and all rules, regulations, rulings and interpretations adopted by the Internal Revenue Service or the Department of Labor thereunder.
DEBT TO WORTH. RATIO shall mean for any period the ratio of Total Liabilities of the Borrower divided by the Tangible Net Worth of the Borrower.
Examples of DEBT TO WORTH in a sentence
MEET WITH BANK TO ESTABLISH FINANCIAL COVENANTS FOR A MINIMUM NET WORTH; DEBT SERVICE COVERAGE RATIO AND MAXIMUM DEBT TO WORTH RATIO, WITHIN TWENTY (20) DAYS AFTER THE EARLIER OF EITHER (I) FEBRUARY 1, 1999 OR (II) THE SALE OF CORPORATE HEALTH CARE, FINANCING, INC.
MEET WITH BANK TO ESTABLISH FINANCIAL COVENANTS FOR A MINIMUM NET WORTH; DEBT SERVICE COVERAGE RATIO AND MAXIMUM DEBT TO WORTH RATIO, PRIOR TO MARCH 1, 1999.