Item 1.01 Entry into a Material Definitive Agreement.
On
The agreement makes available to
The loan, once assigned to us upon delivery of the ship, will amortize semi-annually and will mature twelve years thereafter. Interest will accrue at a fixed rate of 3.00% (inclusive of margin).The credit agreement contains customary events of default and prepayment events for, among other things, non-payment, breach of covenants, default on certain other indebtedness, certain large judgments and a change of control of the Company.
Certain of the lenders participating in the facility, and affiliates of those parties, provide banking, investment banking and other financial services to us from time to time for which they have received, and will in the future receive, customary fees.
The foregoing description of the provisions of the credit agreement is summary in nature and is qualified in its entirety by reference to the full and complete terms of the credit agreement, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
The disclosure required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10.1 Novation Agreement, dated as of
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
© Edgar Online, source