Working Capital Leverage definition

Working Capital Leverage means the ratio of current liabilities to working capital. For the purposes of this definition, working capital shall mean current assets minus current liabilities, and current assets and current liabilities shall be determined in accordance with GAAP, except current assets shall exclude, any receivables subject to offset or defense or counterclaim, prepaids, any receivables or other sums due from Affiliates and Noninvestment Grade Securities.
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Examples of Working Capital Leverage in a sentence

  • Provided that the preconditions to extensions described in Section 3 herein and the contingencies set forth herein are met as required, Lenders agree that the commencement date of March 1, 2008 for the Current Ratio, Working Capital, Leverage Ratio, Fixed Charge Coverage Ratio, and Net Worth shall be extended through the Termination Date.

  • Provided that the preconditions to extensions described in Section 3 herein and contingencies set forth herein are met as required, Lenders agree that the commencement date of December 15, 2007 for the Current Ratio, Working Capital, Leverage Ratio, and Fixed Charge Coverage Ratio, and Net Worth shall be extended to March 1, 2008.

  • The extension of the Termination Date for the Revolving Loans likewise extends through November 1, 2009, the applicable dates for the Current Ratio, Working Capital, Leverage Ratio, Fixed Charge Coverage Ratio, and Net Worth, as defined in the Amended Credit Agreement.