Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereof: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 September 30, 2023 6.00:1.00 December 31, 2023 Not Tested March 31, 2024 5.00:1.00 June 30, 2024 4.50:1.00 September 30, 2024 4.25:1.00 December 31, 2024 3.75:1.00 March 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Quantum Corp /De/)
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereof9.8: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 September 30, 2023 6.00:1.00 December 31, 2023 Not Tested March 31, 2024 5.00:1.00 Not Tested June 30, 2024 4.50:1.00 5.00:1.00 September 30, 2024 4.25:1.00 December 31, 2024 3.75:1.00 March 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth belowquarter, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 3.755.75:1.00 September 30, 2023 6.00:1.00 3.256.00:1.00 December 31, 2023 Not Tested 6.75:1.00 March 31, 2024 5.00:1.00 June 30, 2024 4.50:1.00 September 30, 2024 4.25:1.00 December 31, 2024 3.75:1.00 March DecemberMarch 31, 2025 20232025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/)
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: Fiscal Quarter Ending Maximum Total Net Leverage Ratio September 30, 2021 4.25:1.00 December 31, 2021 4.25:1.00 March 31, 2022 Not Tested June 30, 2022 6.00:1.00 3.506.00:1.00 September 30, 2022 6.75:1.00 3.506.75:1.00 December 31, 2022 6.00:1.00 3.506.00:1.00 March 31, 2023 4.75:1.00 3.504.75:1.00 June 30, 2023 5.75:1.00 3.003.75:1.00 September 30, 2023 6.00:1.00 3.003.25:1.00 December 31, 2023 Not Tested 3.00:1.00 March 31, 2024 5.00:1.00 3.00:1.00 June 30, 2024 4.50:1.00 3.00:1.00 September 30, 2024 4.25:1.00 3.00:1.00 December 31, 2024 3.75:1.00 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth belowquarter, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: Fiscal Quarter Ending Maximum Total Net Leverage Ratio September 30, 2021 4.25:1.00 December 31, 2021 4.25:1.00 March 31, 2022 Not Tested June 30, 2022 6.00:1.00 3.50:1.00 September 30, 2022 6.75:1.00 3.50:1.00 December 31, 2022 6.00:1.00 3.50:1.00 March 31, 2023 4.75:1.00 3.50:1.00 June 30, 2023 5.75:1.00 3.00:1.00 September 30, 2023 6.00:1.00 3.00:1.00 December 31, 2023 Not Tested 3.00:1.00 March 31, 2024 5.00:1.00 3.00:1.00 June 30, 2024 4.50:1.00 3.00:1.00 September 30, 2024 4.25:1.00 3.00:1.00 December 31, 2024 3.75:1.00 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth belowquarter, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: Fiscal Quarter Ending Maximum Total Net Leverage Ratio September 30, 2021 4.25:1.00 December 31, 2021 4.25:1.00 March 31, 2022 Not Tested June 30, 2022 6.00:1.00 3.50:1.00 September 30, 2022 6.75:1.00 3.50:1.00 December 31, 2022 6.00:1.00 3.50:1.00 March 31, 2023 4.75:1.00 3.50:1.00 June 30, 2023 5.75:1.00 3.00:1.00 September 30, 2023 6.00:1.00 3.00:1.00 December 31, 2023 Not Tested 3.00:1.00 March 31, 2024 5.00:1.00 3.00:1.00 June 30, 2024 4.50:1.00 3.00:1.00 September 30, 2024 4.25:1.00 3.00:1.00 December 31, 2024 3.75:1.00 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00β
Appears in 1 contract
Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/)
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 3.755.75:1.00 September 30, 2023 6.00:1.00 3.256.00:1.00 December 31, 2023 Not Tested 6.75:1.00 March 31, 2024 5.00:1.00 June 30, 2024 4.50:1.00 September 30, 2024 4.25:1.00 December 31, 2024 3.75:1.00 March DecemberMarch 31, 2025 20232025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Total Net Leverage Ratio. Maintain The Borrower and its Restricted Subsidiaries, on a consolidated basis, will maintain, as of the end of each fiscal quarter Fiscal Quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to opposite such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofFiscal Quarter: Fiscal Quarter Quarter(s) Ending Maximum Total Net Leverage Ratio September 30, 2019 5.50:1.00 December 31, 2019 5.25:1.00 March 31, 2020 and June 30, 2020 5.50:1.00 September 30, 2020 5.25:1.00 MarchDecember 31, 2020 5.00:1.00 101 March 31, 2021 4.75:1.00 June 30, 20202021 4.754.50:1.00 September 30, 2020 4.50:1.00 September 30, 2021, December 31, 2020,2021 and March 31, 2021 and June 30, 20212022 4.25:1.00 June 30, 2022 6.00:1.00 and September 30, 2021 and 2022 6.75:1.00 December 31, 2022 6.00:1.00 20212022 and March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 September 30, 2023 6.00:1.00 December 31, 2023 Not Tested March 31, 2024 5.00:1.00 June 30, 2024 4.50:1.00 September 30, 2024 4.25:1.00 December 31, 2024 4.00:1.00 3.75:1.00 March 31, 2025 2022 and June 30, 2022 3.75:1.00 SeptemberJune 30, 20222023 and each fiscal quarter Fiscal Quarter ending thereafter 3.00:1.003.50:1.00
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Repay Holdings Corp)
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereof9.8: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 September 30, 2023 6.00:1.00 December 31, 2023 Not Tested March 31, 2024 5.00:1.00 June 30, 2024 4.50:1.00 September 30, 2024 4.25:1.00 December 31, 2024 3.75:1.00 March 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/)
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth belowquarter, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: DB1/ 123142411.13 Fiscal Quarter Ending Maximum Total Net Leverage Ratio September 30, 2021 4.25:1.00 December 31, 2021 4.25:1.00 March 31, 2022 4.25:1.00 June 30, 2022 6.00:1.00 3.50:1.00 September 30, 2022 6.75:1.00 3.50:1.00 December 31, 2022 6.00:1.00 3.50:1.00 March 31, 2023 4.75:1.00 3.50:1.00 June 30, 2023 5.75:1.00 3.00:1.00 September 30, 2023 6.00:1.00 3.00:1.00 December 31, 2023 Not Tested 3.00:1.00 March 31, 2024 5.00:1.00 3.00:1.00 June 30, 2024 4.50:1.00 3.00:1.00 September 30, 2024 4.25:1.00 3.00:1.00 December 31, 2024 3.75:1.00 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth below, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereof: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 5.75:1.00 September 30, 2023 6.00:1.00 December 31, 2023 Not Tested March 31, 2024 5.00:1.00 Not Tested June 30, 2024 4.50:1.00 September 30, 2024 4.25:1.00 December 31, 2024 3.75:1.00 March 31, 2025 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter set forth belowquarter, a Total Net Leverage Ratio for Quantum and its Subsidiaries, on a consolidated basis, of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth below and tested by reference to the financial statements with respect to such fiscal quarter delivered (or required to be delivered) to Agent pursuant to Section 9.8 hereofbelow: Fiscal Quarter Ending Maximum Total Net Leverage Ratio September 30, 2021 4.25:1.00 December 31, 2021 4.25:1.00 March 31, 2022 Not Tested June 30, 2022 6.00:1.00 3.506.00:1.00 September 30, 2022 6.75:1.00 3.506.75:1.00 December 31, 2022 6.00:1.00 3.506.00:1.00 March 31, 2023 4.75:1.00 3.504.75:1.00 June 30, 2023 5.75:1.00 3.003.75:1.00 September 30, 2023 6.00:1.00 3.003.25:1.00 December 31, 2023 Not Tested 3.00:1.00 March 31, 2024 5.00:1.00 3.00:1.00 June 30, 2024 4.50:1.00 3.00:1.00 September 30, 2024 4.25:1.00 3.00:1.00 December 31, 2024 3.75:1.00 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 and each fiscal quarter ending thereafter 3.00:1.00
Appears in 1 contract
Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/)