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Minimum Net Worth Covenant Sample Clause

Description: Coverage tests are financial covenants that relate to a company's ability to service its debt out of income or cash flow. This sample clause requires the borrower and its subsidiaries to maintain a minimum net worth.
Form Type: Clauses
Practice Area: Corporate & Securities

Date: Nov 2014
PLI Item #: 129866
Keywords: "minimum net worth"; borrower; subsidiaries; "financial covenant"; "credit agreement"; lender; "consolidated stockholders equity"
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