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 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 below: March 31, 2019 5.43 to 1.00 June 30, 2019 4.80 to 1.00 September 30, 2019 4.40 to 1.00 December 31, 2019 3.75 to 1.00 March 31, 2020 Not tested by reference June 30, 2020 Not tested September 30, 2020 Not tested December 31, 2020 Not tested March 31, 2021 Not tested June 30, 2021 5.00 to the financial statements with respect 1.00 September 30, 2021 4.75 to such fiscal quarter delivered (or required 4.25:1.00 December 31, 2021 4.50 to be delivered) 4.25:1.00 March 31, 2022 4.50 to Agent pursuant to Section 9.8 hereof: Fiscal Quarter Ending Maximum Total Net Leverage Ratio 4.25:1.00 June 30, 2022 6.00:1.00 4.25 to 3.50:1.00 September 30, 2022 6.75:1.00 4.00 to 3.50:1.00 December 31, 2022 6.00:1.00 3.75 to 3.50:1.00 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 3.00:1.003.25 to 3.50:1.00
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
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: 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
Samples: Revolving 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: Fiscal Quarter Ending Maximum Total Net Leverage Ratio DB1/ 123142411.13 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
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
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 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
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 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/)