Hunt Valley Mortgage Release Conditions

Hunt Valley Mortgage Release Conditions. (a) the Fixed Charge Coverage Ratio, for each 12 month period for six (6) consecutive months for which Agent has received financial statements as required under Section 5.1, shall be not less than 1.00 to 1.00, (b) in the event that the condition in clause (a) above is satisfied, Excess Availability, on such date of satisfaction and for each of the immediately preceding thirty (30) consecutive days, shall be not less than $17,500,000 and (c) no Default or Event of Default shall exist.