Item 1.01. Entry into a Material Definitive Agreement.
On
The facility amount under the Credit Agreement is
Interest under the Credit Agreement is equal to (i) an "alternate base rate" (as described therein) plus 0.75% or 0.875% per annum, (ii) the applicable Eurocurrency Rate (as defined therein) for the relevant currency in which the applicable loans are denominated plus 1.75% or 1.875% per annum or (iii) for loans denominated in Pound Sterling, RFR (as defined therein) plus 1.8693% or 1.9943% per annum, in each case, depending on the Company's rate option election (for loans denominated in US Dollars) and the borrowing base (as of the most recently delivered borrowing base certificate delivered under the Credit Agreement).
The Credit Agreement includes customary affirmative and negative covenants, including certain limitations on the incurrence of additional indebtedness and liens, as well as usual and customary events of default for revolving credit facilities of this nature.
The description above is only a summary of the material provisions of the Credit
Agreement and is qualified in its entirety by reference to a copy of the Credit
Agreement, which will be filed with the Company's Annual Report on Form 10-K for
the year ended
Item 1.02 Termination of a Material Definitive Agreement.
On
Item 2.03. Creation of Direct Financial Obligation
The information included under Item 1.01 above regarding the Credit Agreement is incorporated by reference into this Item 2.03.
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