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Current Ratio
Current Ratio contract clause examples
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Current Ratio:13

Section # Current Ratio. Beginning with the Fiscal Quarter ending September 30, 2017, the Borrower will not permit, as of the last day of any Fiscal Quarter, its ratio of Current Assets to Current Liabilities to be less than 1.0 to 1.0.

Consolidated Current Ratio” means, as of any date of determination, the ratio of # consolidated current assets of the Borrower and its Subsidiaries as of such date to # consolidated current liabilities of the Borrower and its Subsidiaries as of such date, in each case, as otherwise determined in accordance with GAAP.

Current Premises Minimum Rent. For the avoidance of doubt, nothing in this Third Addendum shall be construed to amend or modify [[Organization B:Organization]]'s Minimum Rent obligations set forth in Article 3 of the Lease for the current Premises comprising approximately 50.148 rentable square feet as set forth in the table below:

“Lundbeck Current Patent Rights” - any Patent Rights Controlled by Lundbeck or its Affiliates as of the Effective Date that claim or cover the researching, Developing, making, having made, using, having used, Commercialising and having Commercialised Compound and/or Product in the Field set out in [Schedule A].

Current Tax Period Taxes. In the case of any Straddle Period, the amount of any Taxes of any Contributed Entity not based upon or measured by income, activities, events, the level of any item, gain, receipts, proceeds, profits or similar items for the portion of the Tax period ending on the day prior to the Applicable Closing Date will be deemed to be the amount of such Taxes for the entire Tax period multiplied by a fraction, the numerator of which is the number of days in the Tax period ending on the day prior to the Applicable Closing Date and the denominator of which is the number of days in such Straddle Period. The amount of any other Taxes for a Straddle Period that relate to the portion of the Tax period ending on the day prior to the Applicable Closing Date will be determined based on an interim closing of the books as of the close of business on the day prior to the Applicable Closing Date.

Coverage Ratio. The Parent will not permit the ratio, determined as of the end of each fiscal quarter of the Parent, for the then most recently ended four fiscal quarters of # Consolidated EBITDA to # Consolidated Interest Expense (the “Interest Coverage Ratio”), to be less than 2.50 to 1.00. As of the date of this Agreement, pursuant to Section 9.9, the minimum Interest Coverage Ratio shall be 3.00 to 1.00 in accordance with [Section 7.12(a)] of the Bank Credit Agreement. For purposes of clarification, so long as any of the Notes are outstanding, for purposes of this Section 10.7(a), the minimum Interest Coverage Ratio shall not be lower than 2.50 to 1.00.

Leverage Ratio. The Parent will not permit the ratio, determined as of the end of each fiscal quarter of the Parent, for the then most-recently ended four fiscal quarters of # Consolidated Net Indebtedness to # Consolidated EBITDA (the “Leverage Ratio”) to be greater than 3.00 to 1.00.

Leverage Ratio. The Borrower will not permit the Leverage Ratio, on the last day of any fiscal quarter of the Borrower, commencing with the fiscal quarter ending September 30, 2023 and each fiscal quarter thereafter during the term of this Agreement, to be greater than the ratio set forth below opposite such period below:

“Debt Service Coverage Ratio” means, for any period, the ratio of # EBITDA for such period minus # the Unfinanced Capital Expenditures for such period and # Restricted Payments paid in cash during such period to # the sum of # Interest Expense for such period, plus # prior period current maturities of Long Term Debt and capital leases.

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