Common use of Liabilities to Tangible Net Worth Clause in Contracts

Liabilities to Tangible Net Worth. A ratio of Total Liabilities to Tangible Net Worth (as defined above) which is not at any time more than the following: Dates CLC CLTL On or before June 29, 1997 7.0:1 3.6:1 June 30, 1997 through December 30, 1997 6.5:1 3.6:1 December 31, 1997 through June 29, 1998 5.8:1 3.6:1 June 30, 1998 through December 30, 1998 5.5:1 3.6:1 On or after December 31, 1998 5.0:1 3.6:1"

Appears in 1 contract

Sources: Credit Agreement (Chemical Leaman Corp /Pa/)

Liabilities to Tangible Net Worth. A ratio of Total Liabilities to Tangible Net Worth (as defined above) which is not at any time more than the following: Dates CLC CLTL On or before June 29, 1997 7.0:1 3.6:1 June 30, 1997 through December 30, 1997 6.5:1 8.0:1 3.6:1 December 31, 1997 through June 29, 1998 5.8:1 7.0:1 3.6:1 June 30, 1998 through December 30, 1998 5.5:1 6.5:1 3.6:1 On or after December 31, 1998 5.0:1 6.0:1 3.6:1"

Appears in 1 contract

Sources: Credit Agreement (Chemical Leaman Corp /Pa/)