Maximum Consolidated Senior Leverage Ratio. Borrower shall not permit the Consolidated Senior Leverage Ratio, determined as at the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2019, to be greater than the levels set forth below. June 30, 2019 1.75:1.00 September 30, 2019 1.75:1.00 December 31, 2019 1.75:1.00 March 31, 2020 1.50:1.00 June 30, 2020 1.50:1.00 September 30, 2020 1.50:1.00 December 31, 2020 1.50:1.00 March 31, 2021 1.25:1.00 June 30, 2021 1.25:1.00 September 30, 2021 1.25:1.00 December 31, 2021 1.15:1.00 March 31, 2022 1.15:1.00 June 30, 2022 1.00:1.00 September 30, 2022 1.00:1.00 December 31, 2022 1.00:1.00 March 31, 2023 1.00:1.00
Appears in 4 contracts
Samples: Loan and Security Agreement (1847 Goedeker Inc.), Loan and Security Agreement (1847 Goedeker Inc.), Loan and Security Agreement (1847 Holdings LLC)
