Maximum Debt to Tangible Net Worth. Borrower shall maintain a ratio of (i) the outstanding amount of Indebtedness of Borrower (excluding Subordinated Debt), to (ii) Tangible Net Worth, each as measured on a fiscal quarter-end basis commencing the calendar quarter ending December 31, 2005 and for each fiscal quarter thereafter, which is less than or equal to 6.00 to 1.00.
Maximum Debt to Tangible Net Worth. Debtor shall maintain a ratio of total liabilities (excluding the principal balance of any debt that is subordinated to Secured Party in a manner satisfactory to Secured Party) to Tangible Net Worth of no greater than the ratio set forth below during the time periods set forth below: Ratio Time Period
Maximum Debt to Tangible Net Worth. The Company will maintain as of the last day of each fiscal quarter ending on or after September 30, 2001 a ratio of (a) Debt (less the Notes contemplated herein) to (b) Tangible Net Worth of not more than Four and One-Half to One (4.5:1.0). "Tangible Net Worth" means the book value of the Company's assets less liabilities (including as liabilities all reserves for contingencies and other potential liabilities), excluding from liabilities all unearned income and excluding from such assets all Intangibles. "Intangibles" means and includes general intangibles (as that term is defined in the Uniform Commercial Code; accounts receivable and advances due from officers, directors, member, owner, employees, stockholders and affiliates; leasehold improvements net of depreciation; licenses; good will; escrow deposits; covenants not to compete; the excess of cost over book value of acquired assets; franchise fees; organizational costs; finance reserves held for recourse obligations; capitalized research and development costs.
Maximum Debt to Tangible Net Worth. Debtor shall maintain a ratio ('Debt-to-Worth Ratio') of total consolidated liabilities (excluding the principal balance of any debt that is subordinated to the Indebtedness in a manner satisfactory to Agent) to consolidated Tangible Net Worth (as defined above) of no greater than the ratio set forth below for each fiscal month during the time periods set forth below: Time Period(s) Ratio
Maximum Debt to Tangible Net Worth. Maintain a maximum Debt to Tangible Net Worth of Borrower no greater than 3.5x defined as total liabilities divided by Tangible Net Worth. As used herein, the term “Tangible Net Worth” means the total net worth less (i) any and all loans, notes receivable, accounts receivable, intercompany receivables, and other indebtedness and amounts owing from affiliates, subsidiaries, employees, officers, stockholders, directors, or other related entities; and less (ii) any and all intangibles. This ratio will be evaluated on a quarterly basis.
Maximum Debt to Tangible Net Worth. Laitram will maintain a ratio of debt to tangible net worth of not more than 1.60 to 1.00. For purposes of this section, “debt” shall mean all liabilities reflected on the balance sheet of Group and its Subsidiaries according to GAAP less any debt specifically subordinated to Lenders as evidenced by a properly executed agreement using Lenders’ forms. “Tangible net worth” shall mean the sum of common stock, preferred stock, capital surplus, accumulated comprehensive income, and retained earnings less treasury stock and the sum of all intangible assets (including, without limitation, good will, franchises, licenses, patents, trademarks, trade names, copyrights, service marks and brand names) of Group and its Subsidiaries.
Maximum Debt to Tangible Net Worth. Borrower will maintain a ratio of Debt to Tangible Net Worth, which shall be verified at the close of each fiscal quarter of Borrower in accordance with GAAP, of no more than:
Maximum Debt to Tangible Net Worth. With respect to Item 26 (D) of the Schedule, Debtor shall maintain a ratio of Debt to Tangible Net Worth of not more than 2.25:1 as of the end of each fiscal quarter.
Maximum Debt to Tangible Net Worth. Borrower covenants that it will maintain as of the last day of each fiscal quarter ending on or after March 31, 2000 (a) a ratio of Debt minus Subordinated Debt to (b) Tangible Net Worth plus Subordinated Debt of not more than Six to One (6.0:1.0); and
Maximum Debt to Tangible Net Worth. Total Debt of the Borrower divided by ---------------------------------- Tangible Net Worth.
