Common use of Consolidated Current Ratio Clause in Contracts

Consolidated Current Ratio. The Borrower will not permit the Consolidated Current Ratio as of the end of any fiscal quarter ending on the date set forth in the table below to be less than the ratio set forth opposite such date: Fiscal Quarter ending as of Minimum Consolidated Current Ratio December 31, 2015 1.00 to 1.00 March 31, 2016 0.75 to 1.00 June 30, 2016 0.75 to 1.00 September 30, 2016 and each fiscal quarter ending thereafter 1.00 to 1.00

Appears in 1 contract

Sources: Credit Agreement (Natural Resource Partners Lp)

Consolidated Current Ratio. The Borrower will not permit the Consolidated Current Ratio as of the end of any fiscal quarter ending on the date set forth in the table below or after June 30, 2007 to be less than 1.00 to 1.00; provided that for purposes of determining compliance with this Section 7.11(a), the ratio set forth opposite such date: Fiscal Quarter ending calculation of Consolidated Current Liabilities as of Minimum Consolidated Current Ratio the end of any fiscal quarter ending on or before December 31, 2015 1.00 2008, shall not include any Indebtedness of the Borrower under the Senior Unsecured Term Loan Facility to 1.00 March 31, 2016 0.75 to 1.00 June 30, 2016 0.75 to 1.00 September 30, 2016 and each fiscal quarter ending thereafter 1.00 to 1.00the extent such Indebtedness is permitted under Section 7.01(h).

Appears in 1 contract

Sources: Credit Agreement (Exco Resources Inc)

Consolidated Current Ratio. The Borrower will not permit the Consolidated Current Ratio as of the end of any fiscal quarter ending on the date set forth in the table below or after June 30, 2007 to be less than 1.00 to 1.00; provided that for purposes of determining compliance with this Section 7.11(a), the ratio set forth opposite such date: Fiscal Quarter ending calculation of Consolidated Current Liabilities as of Minimum Consolidated Current Ratio the end of any fiscal quarter ending on or before December 31, 2015 1.00 2009, shall not include any Indebtedness of the Borrower under the Senior Unsecured Term Loan Facility (or any Permitted Refinancing thereof) to 1.00 March 31, 2016 0.75 to 1.00 June 30, 2016 0.75 to 1.00 September 30, 2016 and each fiscal quarter ending thereafter 1.00 to 1.00the extent such Indebtedness is permitted under Section 7.01(h).

Appears in 1 contract

Sources: Credit Agreement (Exco Resources Inc)

Consolidated Current Ratio. The Borrower will not permit the Consolidated Current Ratio as of the end of any fiscal quarter ending on the date set forth in the table below or after December 31, 2008 and on or before September 30, 2009 to be less than the ratio set forth opposite such date: Fiscal Quarter ending as of Minimum Consolidated Current Ratio December 31, 2015 1.00 to 1.00 March 31, 2016 0.75 to 1.00 June 30, 2016 0.75 to 1.00 September 30, 2016 and each fiscal quarter ending thereafter 1.00 to 1.00; provided that for purposes of determining compliance with this Section 7.11(a), the calculation of Consolidated Current Liabilities as of the end of any such fiscal quarter shall not include any Indebtedness of the Borrower under this Agreement.

Appears in 1 contract

Sources: Senior Unsecured Term Credit Agreement (Exco Resources Inc)