FINANCIAL COVENANT DEFINITIONS

FINANCIAL COVENANT DEFINITIONS. Changed for net Profit After Tax, Revenue and Working Capital Turnover. FINANCIAL COVENANTS SDSA and BSDE will be required, on a consolidated basis, to maintain the following financial ratios, percentages and amounts on a year to date basis as of the last day of the fiscal period under review (quarterly and annually) by us and IBM Credit: Covenant Covenant Requirement (i) Debt to Tangible Net Worth Greater than Zero and Less than 7.0:1.0 (ii) Net Profit after Tax to Greater than 0.10 percent... Revenue (iii) Working Capital Turnover (WCTO) Greater than Zero and Less than 43.0:1.0 PFSweb, Inc. will be required to maintain the following financial ratios, percentages and amounts as of the last day of the fiscal period under review (quarterly and annually) by IBM Credit: Covenant Covenant Requirement Date as of -------- ----------- ---------- (i) Minimum Tangible Net Worth $18,000,000.00 03/31/04 and beyond View More