Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter, 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: 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 3.506.00:1.00 September 30, 2022 3.506.75:1.00 December 31, 2022 3.506.00:1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 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
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Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/)
Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter, 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: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2021 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 3.755.75:1.00 September 30, 2023 3.256.00:1.00 December 31, 2023 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, 2021 4.25:1.00 March 2024 3.75:1.00 DecemberMarch 31, 2022 Not Tested June 30, 2022 3.506.00:1.00 September 30, 2022 3.506.75:1.00 December 31, 2022 3.506.00:1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 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, 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: Fiscal Quarter Ending Maximum Total Net Leverage Ratio March 31, 2019 5.43 to 1.00 June 30, 2019 4.80 to 1.00 September 30, 2021 4.25:1.00 2019 4.40 to 1.00 December 31, 2021 4.25:1.00 2019 3.75 to 1.00 March 31, 2022 Not Tested 2020 3.50 to 1.00 June 30, 2022 3.506.00:1.00 2020 3.25 to 1.00 September 30, 2022 3.506.75:1.00 2020 2.75 to 1.00 December 31, 2022 3.506.00:1.00 2020 2.50 to 1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 2021 and each fiscal quarter ending thereafter 3.00:1.002.50 to 1.00
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Total Net Leverage Ratio. Maintain as of the end of each fiscal quarter, 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: Fiscal Quarter Ending Maximum Total Net Leverage Ratio March 31, 2019 5.43 to 1.00 June 30, 2019 4.80 to 1.00 September 30, 2021 4.25:1.00 2019 4.40 to 1.00 December 31, 2021 4.25:1.00 2019 3.75 to 1.00 March 31, 2022 2020 Not Tested June 30, 2022 3.506.00:1.00 2020 3.25 to 1.00 September 30, 2022 3.506.75:1.00 2020 2.75 to 1.00 December 31, 2022 3.506.00:1.00 2020 2.50 to 1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 2021 and each fiscal quarter ending thereafter 3.00:1.002.50 to 1.00
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Total Net Leverage Ratio. Maintain as of the end of each fiscal quarterquarter 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: Fiscal Quarter Ending Maximum Total Net Leverage Ratio June 30, 2022 6.00:1.00 September 30, 2021 2022 6.75:1.00 December 31, 2022 6.00:1.00 March 31, 2023 4.75:1.00 June 30, 2023 3.755.75:1.00 September 30, 2023 3.256.00:1.00 December 31, 2023 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, 2021 4.25:1.00 March 2024 3.75:1.00 DecemberMarch 31, 2022 Not Tested June 30, 2022 3.506.00:1.00 September 30, 2022 3.506.75:1.00 December 31, 2022 3.506.00:1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 20232025 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, 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: 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 3.506.00:1.00 3.50:1.00 September 30, 2022 3.506.75:1.00 3.50:1.00 December 31, 2022 3.506.00:1.00 3.50:1.00 March 31, 2023 3.504.75:1.00 3.50:1.00 June 30, 2023 3.003.75:1.00 3.00:1.00 September 30, 2023 3.003.25:1.00 3.00:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 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, a Total Net Leverage Ratio for Quantum The Borrower and its Restricted Subsidiaries, on a consolidated basis, will maintain, as of the end of each Fiscal Quarter set forth below, a Total Net Leverage Ratio of not greater than the ratio set forth below for each four (4) consecutive fiscal quarter period then ended set forth belowopposite such Fiscal 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 5.00:1.00 June 30, 2020 4.75:1.00 September 30, 2020 4.50:1.00 December 31, 2020, March 31, 2021 and June 30, 2021 4.25:1.00 September 30, 2021 and December 31, 2021 4.25:1.00 4.00:1.00 March 31, 2022 Not Tested and June 30, 2022 3.506.00:1.00 3.75:1.00 September 30, 2022 3.506.75:1.00 December 31, 2022 3.506.00:1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 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 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, 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: Fiscal Quarter Ending Maximum Total Net Leverage Ratio March 31, 2019 6.00:1.00 June 30, 2019 5.50:1.00 September 30, 2021 4.25:1.00 2019 5.00:1.00 December 31, 2021 4.25:1.00 2019 4.50:1.00 March 31, 2022 Not Tested 2020 4.00:1.00 June 30, 2022 3.506.00:1.00 2020 3.75:1.00 September 30, 2022 3.506.75:1.00 2020 3.50:1.00 December 31, 2022 3.506.00:1.00 2020 3.25:1.00 March 31, 2023 3.504.75:1.00 June 30, 2023 3.003.75:1.00 September 30, 2023 3.003.25:1.00 December 31, 2023 3.00:1.00 March 31, 2024 3.00:1.00 June 30, 2024 3.00:1.00 September 30, 2024 3.00:1.00 December 31, 2024 3.00:1.00 March 31, 2025 3.00:1.00 June 30, 2025 3.00:1.00 December 31, 20252023 2021 and each fiscal quarter ending thereafter 3.00:1.00
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