Minimum Current Ratio. The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending ​), permit the Current Ratio to be less than 1.00 to 1.00.

Payments Current. No payment required under the Mortgage Loan is thirty (30) days or more delinquent nor has any payment under the Mortgage Loan (other than a Ginnie Mae Modified Loan or Scratch and Dent Mortgage Loan) been thirty (30) days or more delinquent at any time since the origination of the Mortgage Loan; and, if the Mortgage Loan is a Co-op Loan, no foreclosure action or private or public sale under the Uniform Commercial Code has ever to the knowledge of ​, been threatened or commenced with respect to the Co-op Loan.

“Current Ratio” means the ratio of Current Assets to Current Liabilities.

"Current Ratio" shall mean the ratio of Borrowers' # Current Assets plus Borrowers' then current borrowing capacity under this Agreement to # Current Liabilities minus CPLTD.

“Development” or “Develop” - all preclinical development activities and all clinical drug development and regulatory activities regarding Compound or Product. Development shall include, without limitation, all preclinical testing, test method development and stability testing, toxicology, formulation, process development, manufacturing scale-up, qualification and validation, quality assurance/quality control, Clinical Studies, manufacturing clinical supplies, regulatory affairs, statistical analysis and report writing. When used as a verb, “Develop” shall mean to engage in Development.

Current Incentive Plan. Nothing contained herein shall reduce in any way payments to which the Executive may be entitled under annual bonus plans and/or long-term incentive plans sponsored by the Company or its subsidiaries.

“Quick Ratio” means the ratio of Current Assets less inventory (net of LIFO Reserve), to Current Liabilities.

Adjusted Quick Ratio. A ratio of # Quick Assets to # Current Liabilities minus the current portion of Deferred Revenue of at least 1.15 to 1.00.

Leverage Ratio. The Leverage Ratio, as of the end of each fiscal quarter of the Combined Parties, shall be less than or equal to 0.60 to 1.0; provided that such ratio may exceed 0.60 to 1.0 as of the end of up to four (4) fiscal quarters of the Combined Parties during the term of this Credit Agreement (whether or not consecutive) so long as such ratio does not exceed 0.65 to 1.0.

Leverage Ratio. Have a Leverage Ratio, measured on a quarter-end basis, of not greater than the applicable ratio set forth in the following table for the applicable date set forth opposite thereto:

Conversion Ratio. Each share of Series D Preferred Stock shall be convertible, at the option of the Holder thereof, at any time and from time to time, and without the payment of additional consideration by the Holder thereof, into such number of fully paid and non-assessable shares of Common Stock equal to the ratio determined by dividing # the Stated Value of such share of Series D Preferred Stock by # the Series D Conversion Price (as defined below) in effect at the time of conversion (the “Conversion Ratio”). The “Series D Conversion Price” shall initially be ​. The Series D Conversion Price shall be subject to adjustment as provided in [Sections 5.4 through 5.7] below, and for the avoidance of doubt, any adjustment to the Series D Conversion Price as provided in [Section 5.4 through 5.7] below shall result in a concordant adjustment to the number of shares of Common Stock into which each share of Series D Preferred Stock may be converted pursuant to the formula set forth in the first sentence of this [Section 5.1.1] for determining the Conversion Ratio.

Liquidity Ratio. Borrower shall maintain at all times, measured as of the last day of each month, a Liquidity Ratio of not less than 1.25 to 1.00.

Leverage Ratio. Not permit ​’s Leverage Ratio at any time to be greater than or equal to thirty-five percent (35%). This ratio will be measured quarterly.

Leverage Ratio. The Borrower will not permit the Leverage Ratio as of the last day of any fiscal quarter of the Borrower set forth below to be greater than the ratio set forth below opposite such period (the “Maximum Leverage Ratio”):

Leverage Ratio. Maintain a ratio of Debt for Borrowed Money as of the end of such Fiscal Quarter to Consolidated EBITDA for the period of four Fiscal Quarters then ended of not greater than 3.75:1.

Leverage Ratio. ​ will not permit the ratio, determined as of the end of each of its fiscal quarters, of # the Total Indebtedness of ​ to # the Total Capitalization of ​ to be greater than 0.65 to 1.0. For purposes of this [Section 6.13], the aggregate outstanding Indebtedness evidenced by Hybrid Securities up to an aggregate amount of 15% of Total Capitalization as of the date of determination, shall be excluded from Total Indebtedness, but the entire aggregate outstanding Indebtedness evidenced by such Hybrid Securities shall be included in the calculation of Total Capitalization.

Leverage Ratio. Maintain, as at the last day of each fiscal quarter of the Company, a Leverage Ratio of not greater than 4.00 to 1.0; provided that the Company may, by written notice from a senior officer of the Company to the ​ indicating that the Company expects to consummate a Material Acquisition, temporarily increase this limitation to 4.50 to 1.00 for the three fiscal quarter period beginning with the fiscal quarter in

Asset Coverage Ratio. ​ will not permit the Asset Coverage Ratio as of the last Business Day of any fiscal quarter to be less than 1.50.