“Clara, what credit facility?”
“The
one Martin restructured last Tuesday to fund his new consulting software contract,” I explained, my voice as calm as a glass of spring water. “He didn’t read the legacy covenants. Article Nine, Section Four of the Arthur Tennant Memorial Trust stipulates that any debt-to-equity ratio exceeding 2.1 must be co-signed by the primary voting shareholder holding the Class-B founder’s shares. Otherwise, the entire revolving credit line triggers an acceleration clause, making the full two hundred and fifty million dollars payable within forty-eight hours.”
Consult Lawyers
👉Please click the Continue Reading button below to keep reading.A sharp gasp echoed down the line. “Two hundred and fifty million?” Nina whispered. “We don’t have that in liquidity. Not even close. Payroll is on Friday!”
“Well,” I said, resting my cheek against my knuckles. “Martin wanted to modernize leadership. Let’s see how his slides look when the bank freezes our clearing accounts at noon.”
