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Working Capital Covenant Sample Clause
Drafting for Corporate Finance: Concepts, Deals, and Documents (Second Edition)
Book Publication Date:
Coverage tests are financial covenants that relate to a company's ability to service its debt out of income or cash flow.
This clause requires a minimum amount of consolidate working capital and provides definitions for "consolidated working capital", "consolidated current assets", and "consolidated current liabilities".
PLI Item #:
Corporate & Securities
"consolidated current assets"
"consolidated current liabilities"
"consolidated working capital"
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