Item 1.01 Entry into a Material Definitive Agreement.
On
The Third Amendment amended the Existing Credit Agreement to, among other things:
• Extend the maturity date fromOctober 26, 2020 toOctober 26, 2021 ; • Increase the sublimit under the Existing Credit Agreement for advances under business credit cards from$150,000 to$300,000 ; • Create a new$2,000,000 sublimit permitting entry into foreign currency forward contracts with the Lender; • Expand the Company's ability to make capital expenditures and incur other debt from time to time; and • Permit the Lender to amend the financial covenant included in the Existing Credit Agreement (which requires the maintenance of a certain amount of unrestricted cash on deposit with the Lender at the end of each month) upon receipt of the Company's annual projections.
The foregoing is a summary of the Third Amendment and is qualified in its entirety by reference to the full text of the Third Amendment, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 9.01(d) Financial Statements and Exhibits.
Exhibit 10.1 Amendment No. 3 to Business Financing Agreement dated as of
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