ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
As previously disclosed, on September 17, 2018, Herc Rentals Inc. (together with
its subsidiaries, the "Company"), as the servicer and performance guarantor,
entered into a receivables financing agreement (the "RFA"), with Herc
Receivables U.S. LLC, a special purpose vehicle wholly-owned by the Company (the
"Receivables Subsidiary"), the lenders from time to time party thereto (the
"Lenders"), and Credit Agricole Corporate and Investment Bank ("CACIB"), as
Administrative Agent, pursuant to which the Receivables Subsidiary may (from
time to time and subject to the conditions therein) borrow from the Lenders.
Loans under the RFA are secured by liens on the receivables and other assets of
the Receivables Subsidiary.
On September 1, 2020, the Company, the Receivables Subsidiary, CACIB and the
Lenders entered into a First Amendment (the "First Amendment") to the RFA. The
First Amendment, among other things, amends certain concentration limits in
order to potentially provide greater borrowing availability, extends the
maturity date of the RFA until August 31, 2021, and increases certain dollar
thresholds regarding events of default related to other indebtedness and
judgments.
The foregoing description of the First Amendment does not purport to be complete
and is qualified in its entirety by reference to the full text of the First
Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and
is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit Number Description
10.1 Amendment No.1 to R eceivables F inancing
A greement
2
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses