Item 1.01. Entry into a Material Definitive Agreement
As previously disclosed, on
The Second Amended and Restated Credit Agreement provides
Borrowings under the Second Amended and Restated Credit Agreement bear interest,
at
The two financial covenants described below are included in the Second Amended and Restated Credit Agreement:
1. Consolidated Interest Coverage Ratio (the ratio of Consolidated EBITDA to Consolidated Interest Charges) may not be less than 3.00 to 1.00 as of the end of any fiscal quarter. 2. Consolidated Leverage Ratio (the ratio of Consolidated Funded Indebtedness to Consolidated EBITDA) may not be greater than 3.25 to 1.00 as of the end of any fiscal quarter.
The term loan under the Second Amended and Restated Credit Agreement is unsecured, subject to certain limitations. Additionally, certain wholly-owned subsidiaries are guarantors under the Second Amended and Restated Credit Agreement.
The Second Amended and Restated Credit Agreement includes representations and
warranties, covenants, events of default and other terms and conditions that are
substantially similar to
A Change in Control, as such term is defined in the Second Amended and Restated
Credit Agreement, of TDS (as defined below) or
The continued availability of the Second Amended and Restated Credit Agreement
requires
The Second Amended and Restated Credit Agreement permits
Amounts borrowed under the Second Amended and Restated Credit Agreement will be
due and payable in quarterly installments of
The foregoing brief description is qualified by reference to the copy of the Second Amended and Restated Credit Agreement attached hereto as Exhibit 4.1, which is incorporated herein by reference, and which identifies all the lenders thereto.
Some of the lenders and/or agents under the Second Amended and Restated Credit
Agreement and/or their affiliates may have various relationships with
In connection with the Second Amended and Restated Credit Agreement,
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In reviewing the agreements included as exhibits to this report, please note
that they are included to provide you with information regarding their terms and
are not intended to provide any other factual or disclosure information about
• should not in any instance be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate; • may have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement; • may apply standards of materiality in a way that is different from what may be viewed as material to you or other investors; and • were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments.
Accordingly, these representations and warranties may not describe the actual
state of affairs as of the date they were made or at any other time. Additional
information about
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The disclosure set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits
(d) The following exhibits are being filed herewith: Exhibit Number Description of Exhibits 4.1 Second Amended and Restated Credit Agreement, amongU.S. Cellular, CoBank, ACB as administrative agent, and the lenders thereto, dated as ofJune 11, 2020 . 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
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