The agreement was amended in November 2014 and later on December 4, 2015, providing for a waiver of the tangible net worth
financial covenant at September 30, 2015, and amending the covenant to reset the base amount to USD8,000,000, measured quarterly beginning at the end of the fiscal quarter ending December 31, 2015.
In conjunction with the extension of the termination date, Barrick proposed, and its lenders agreed, to replace the financial covenant that required Barrick to maintain a minimum consolidated tangible net worth
(CTNW) of at least $3 billion (as of September 30, 2015, Barricks CTNW was $6 billion) with a new financial covenant that better reflects Barricks 2015 deleveraging measures and future expected debt reduction.
Gotham Bank also announced today that, based on its books and records, the unaudited tangible net worth
as of April 30, 2012 was approximately $32,455,000.
60 crore in 2004- 05, while its tangible net worth
increased by more than double from Rs 456.
Two more ratios are key: net fixed assets divided by tangible net worth
, and total liabilities divided by tangible net worth
Take action to get your agency's financial condition in order by focusing on profitability, liquidity and tangible net worth
As previously reported, several of ResCap's credit facilities contain a financial covenant requiring ResCap to maintain a minimum consolidated tangible net worth
as of the end of each fiscal quarter.
Monthly loan covenant calculations (debt to tangible net worth
and current ratio calculations)
It noted that the agreement between Takeda and TAH states that Takeda will maintain 100% ownership of its subsidiary and will assist it in maintaining a minimum tangible net worth
9 million in tangible assets and a tangible net worth
According to Veribanc, 253 of the remaining thrift institutions either do not comply with minimum capital regulations or have problem loans that exceed net loan loss reserves and tangible net worth
Under the terms of the agreement, Gotham Bank's shareholders will receive a per share price equal to the sum of 125% of Gotham Bank's adjusted tangible net worth