On January 8, 2021 (the "Effective Date"), Good Times Restaurants Inc. and each of its wholly-owned subsidiaries, as guarantors, entered into a Fifth Amendment to Credit Agreement and Waiver (the "Amendment") with respect to the Company's Credit Agreement with Cadence Bank, N.A., as lender ("Cadence") entered into on September 8, 2016, as amended on September 11, 2017 by the First Amendment to Credit Agreement (the "First Amendment"), as further amended on October 31, 2018 by the Second Amendment to Credit Agreement (the "Second Amendment"), as further amended on February 21, 2019 by the Third Amendment to Credit Agreement (the "Third Amendment"), and further amended on December 9, 2019 by the Fourth Amendment to Credit Amendment (the "Fourth Amendment" and, together with the First Amendment, the Second Amendment and the Third Amendment, the "Credit Agreement"). The Amendment, among other things, modifies the Credit Agreement as follows: (a) extends the Maturity Date (as defined in the Credit Agreement) to January 31, 2023; (b) provides that the commitments of the lenders will be reduced from $11,000,000 as of the Effective Date of the Amendment to: (i) $10,000,000 on March 31, 2021; and (ii) $8,000,000 on July 1, 2021; (c) provides that the required Consolidated Leverage Ratio as of the end of any fiscal quarter is greater than 5.15 to 1.00; and (d) provides Cadence's formal waiver of the event of default caused by the Company's failure to comply with the required Consolidated Leverage Ratio then in effect for the fiscal quarter ended March 31, 2020.