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Current Ratio 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 sample clause requires a company to maintain a particular ratio of consolidated current assets to consolidated current liabilities.
PLI Item #:
Corporate & Securities
"generally accepted accounting principles"
"consolidated current assets"
"consolidated current liabilities"
"consolidated working capital"
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