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Consolidated Tangible Net Worth Covenant Sample Clause 4

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 consolidate tangible net worth. The clause also provides a sample definition of consolidated tangible net worth.
Form Type: Clauses
Practice Area: Corporate & Securities

Date: Nov 2014
PLI Item #: 129874
Keywords: "consolidated tangible net worth"; "consolidate subsidiaries"; "intangible assets"; borrower; subsidiaries; "financial covenant"; "credit agreement"; lender; "consolidated stockholders equity"
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