Total Liabilities to Gross Asset Value Clause Samples

The 'Total Liabilities to Gross Asset Value' clause defines a financial covenant that limits the ratio of a party's total liabilities to the gross value of its assets. In practice, this clause requires the party to maintain its total debts below a specified percentage of its total asset value, often calculated on a regular basis such as quarterly or annually. This ensures that the party remains financially stable and does not become over-leveraged, thereby protecting the interests of lenders or investors by reducing the risk of default.
Total Liabilities to Gross Asset Value. Borrower shall not permit the ratio of Total Liabilities to the sum of Gross Asset Values for Borrower and each of its Subsidiaries to exceed 0.7:1.
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Total Liabilities to Gross Asset Value. The Borrower will not permit Total Liabilities to exceed seventy percent (70%) of Gross Asset Value, calculated as of the end of each fiscal quarter through and including the fiscal quarter ending March 31,
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Total Liabilities to Gross Asset Value. The Parent shall not at any time permit Total Liabilities divided by Gross Asset Value to be greater than 53% (“ Total Liabilities to Gross Asset Value Percent”); provided, however, in the event the Borrower purchases a Hotel Property in the fourth Fiscal Quarter of 2005, the Total Liabilities to Gross Asset Value Percent will not be greater than 58% until March 31, 2006, 55% until June 30, 2006 and 53% thereafter. If the purchase is delayed until the first Fiscal Quarter of 2006, the 53% Total Liabilities to Gross Asset Value Percent will be in effect until the Fiscal Quarter of acquisition and then the 58% and 55% Total Liabilities to Gross Asset Value Percent will be in effect, respectively, for the next two calendar Fiscal Quarters following such acquisition, and then 53% thereafter. If the 58% Total Liabilities to Gross Asset Value Percent is ever exceeded during its required two Fiscal Quarters and the 55% Total Liabilities to Gross Asset Value Percent is ever exceeded during its required one Fiscal Quarter, the Parent will have up to 45 days after the due date for delivery of the financial statements for the Fiscal Quarter in which such event occurred to cure the Default, provided, however, that during any period that the Total Liabilities to Gross Asset Value Percent is ever exceeded, no additional Advances will be made hereunder and the Applicable Margins will be as follows until the Total Liabilities to Gross Asset Value Percent is as required hereunder: 1.50% 3.50 % .75 % The Total Liabilities to Gross Asset Value Percent then reduces to 53% thereafter. From July 1, 2006 (assuming a purchase in the fourth Fiscal Quarter of 2005) or from October 1, 2006 or from January 1, 2007 (assuming either a first or second Fiscal Quarter 2006 purchase, respectively) until Maturity Date, the Parent will be given only one instance to exceed the 53% maximum Total Liabilities to Gross Asset Value Percent. The Parent will have up to 90 days to cure the Default. No advances will be made during the times when this covenant is exceeded. Notwithstanding anything to the contrary contained herein, if the Total Liabilities to Gross Asset Value Percent ever exceeds 65%, an immediate Event of Default will be deemed to have occurred hereunder. If Borrower or a wholly owned Subsidiary of Borrower elects to acquire Boston ▇▇▇▇▇, then for a period of twelve (12) full calendar months from the date of such acquisition, the Gross Asset Value of Boston ▇▇▇▇▇ for the purposes of t...
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Total Liabilities to Gross Asset Value. Borrower shall not permit the ratio of (x) the sum of Total Liabilities plus the Preferred Stock Obligations, to (y) Gross Asset Value, each determined on a consolidated basis for Borrower and its Consolidated Subsidiaries, to exceed 0.80:1 at any time.
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Total Liabilities to Gross Asset Value. Guarantor shall not permit the ratio of Total Liabilities to Gross Asset Value of Guarantor and its Subsidiaries to exceed 0.50:1 at any time.
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Total Liabilities to Gross Asset Value. The Company shall not permit the ratio of (x) the sum of Total Liabilities plus the Preferred Stock Obligations, to (y) Gross Asset Value, each determined on a consolidated basis for the Company and its Consolidated Subsidiaries, to exceed 0.80:1 at any time.
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Related to Total Liabilities to Gross Asset Value

  • Total Liabilities Current Liabilities

  • Consolidated Total Liabilities All liabilities of the Borrowers determined on a consolidated basis in accordance with GAAP.

  • Gross Asset Value The term "Gross Asset Value" means, with respect to any asset, the asset's adjusted basis for federal income tax purposes, except as follows:

  • Total Liability WAVIN’S TOTAL LIABILITY UNDER OR IN CONNECTION WITH THE AGREEMENT FOR CLAIMS OF ANY KIND (INCLUDING THIRD PARTY CLAIMS) WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE ARISING OUT OF THE PERFORMANCE/NON-PERFORMANCE OR BREACH OF THE AGREEMENT, INCLUDING ANY OTHER COMPENSATION UNDER THE AGREEMENT, OR THE PROVISION OF ANY PRODUCTS OR SERVICES SHALL NOT EXCEED THE AMOUNT PAID OR PAYABLE FOR THE SPECIFIC PRODUCT OR SERVICE THAT GIVES RISE TO THE CLAIM.

  • Minimum Consolidated Net Worth Consolidated Net Worth will at no time be less than $550,000,000 plus 25% of the consolidated net income of the Borrower at the end of each fiscal quarter for each fiscal year commencing after the fiscal year ending December 31, 1994.