Common use of CURRENT RATIO - GUARANTOR Clause in Contracts

CURRENT RATIO - GUARANTOR. The Guarantor shall achieve, as of December 31, 1997, a ratio of Consolidated Current Assets to Consolidated Current Liabilities equal to or greater than 0.5 to 1 and, as of December 31 of each year thereafter during the Term, a ratio of Consolidated Current Assets to Consolidated Current Liabilities equal to or greater than 1.0 to 1; provided however that if a Permitted Transaction (as defined in Section 16.1(h)(vi)) occurs, or if increased ratios are triggered by a Permitted Merger pursuant to Section 16.1(i), then such ratios shall increase to 1.0 to 1.0 and 1.2 to 1.0, respectively.

CURRENT RATIO - GUARANTOR. The Guarantor shall achieve, as of December 31, 1997, a ratio of Consolidated Current Assets to Consolidated Current Liabilities equal to or greater than 0.5 to 1 and, as of December 31 of each year thereafter during the Term, a ratio of Consolidated Current Assets to Consolidated Current Liabilities equal to or greater than 1.0 to 1; provided however provided, however, that if a Permitted Transaction (as defined in Section 16.1(h)(vi)) occurs, or if increased ratios are triggered by a Permitted Merger pursuant to Section 16.1(i), then such ratios shall increase to 1.0 to 1.0 and 1.2 to 1.0, respectively.