Net Worth and Effective Liquidity Sample Clauses

Net Worth and Effective Liquidity. Until such time as all of the Guaranty Agreements are no longer in full force and effect, (a) the DLJMB Parties shall use their commercially reasonable efforts to maintain (i) a Net Worth (as defined in the applicable Guaranty Agreements) as of any time equal to or greater than an amount equal to their Percentage Interest at such time multiplied by the aggregate amount required under such Guaranty Agreements at such time, and (ii) a minimum amount of Effective Liquidity (as defined in the applicable Guaranty Agreements) as of any time equal to or greater than an amount equal to their Percentage Interest at such time multiplied by the aggregate amount required under such Guaranty Agreements at such time; and (b) Morgans shall use its commercially reasonable efforts to maintain (i) Net Assets (as defined in the applicable Guaranty Agreements) as of any time equal to or greater than an amount equal to its Percentage Interest at such time multiplied by the aggregate amount required under such Guaranty Agreements as of such time and (ii) a minimum amount of Effective Liquidity as of any time equal to or greater than an amount equal to its Percentage Interest at such time multiplied by the aggregate amount required under such Guaranty Agreements at such time. From time to time, each of the DLJMB Parties and Morgans shall provide financial information regarding its Net Worth or Net Assets, as applicable, and Effective Liquidity, to the other Party promptly upon written request. In the event that either Morgans or the DLJMB Parties ceases to have the applicable minimum Net Worth or Net Assets, as applicable, or Effective Liquidity as provided in the preceding sentence, such Party shall promptly, and no later than within ten (10) Business Days, deliver a written statement to the other Party notifying it of such fact and setting forth the amount of its Net Worth or Net Assets, as applicable, and Effective Liquidity.
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Related to Net Worth and Effective Liquidity

  • Capital and Liquidity Requirements If any Lender or any Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Swingline Loans and Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding company with respect to capital adequacy and liquidity requirements), by an amount deemed to be material by such Lender or such Issuing Bank, then from time to time the Borrower will pay to such Lender or such Issuing Bank, as the case may be, in Dollars, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered.

  • Minimum Liquidity The Borrower shall not permit Liquidity at any time to be less than $50,000,000.

  • Net Worth The term “net worth” means the excess of total assets over total liabilities (including personal and real property, but excluding the estimated fair market value of a person’s primary home).

  • Quick Ratio A ratio of Quick Assets to Current Liabilities of at least 2.00 to 1.00.

  • Cash Flow Coverage Ratio The ratio of (a) the Company’s Cash Flow to (b) the sum of (i) the Company’s consolidated Interest Expense plus (ii) the Company’s scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.