Item 1.01 Entry into a Material Definitive Agreement.
On
(a) modifies the financial covenant, which had a test based on the maximum
leverage ratio (defined as consolidated total debt to consolidated EBITDA), to a
test based on the net leverage ratio (defined as consolidated total debt, less
unrestricted cash and cash equivalents, to consolidated EBITDA), through the
quarter ending
(b) restricts stock repurchases until
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the underlying agreement, which is filed as Exhibit 10.34.1 to this Current Report on Form 8-K 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 under Item 1.01 of this report is also responsive to Item 2.03 of this report and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.34.1 Amendment No. 1, datedJune 22, 2020 , to the Five-Year Revolving Credit Facility Agreement, dated as ofMarch 5, 2019 , each amongXylem Inc. , the lenders party thereto andCitibank, N.A ., as administrative agent. 104.0 The cover page fromXylem Inc.'s Form 8-K, formatted in Inline XBRL (included as Exhibit 101).
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