ACGL » Topics » Covenants

This excerpt taken from the ACGL 8-K filed Jan 23, 2006.
Covenants); or (ii) default by the Obligor in the observance or performance of its obligation to maintain the value of the Custodial Account maintained in its name in accordance with Clause 5.1.4 hereof and Clause 1 of the Security Agreement between it and the Security Agent;

 

(e)                     failure by the Parent to maintain a minimum Net Worth that is at any time less than the sum of: (i) USD$1,500,000,000; (ii) 25% of the Net Cash Proceeds of any common or preferred equity raised by the Parent after the date of this Agreement; and (iii) 25% of Consolidated Net Income for each financial year of the Parent:

 

38



 

(f)                       in this paragraph (f) the following term has the following meaning.

 

(i)                      
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki