Item 1.01. Entry into a Material Definitive Agreement.
On
? Extending the maturity date to
extensions available.
? Modifying the applicable interest rate margin range such that the highest
applicable interest rate margin is reduced from 1.90% per annum to 1.70% per
annum.
? Increasing the net cash offset for purposes of determining the leverage ratio
from
? Modifying the leverage ratio maintenance covenant to allow for a 12-month
increase of the maximum leverage ratio to 4.00 to 1.00 following the
consummation of a Qualified Acquisition (as such term is defined in the
Revolving Credit Agreement).
? Including "hardwired" LIBOR transition provisions substantially consistent with
those published by the Alternative Reference Rates Committee.
The foregoing description of the Revolving Credit Agreement is not complete and is qualified in its entirety by reference to the Revolving Credit Agreement, which is filed as Exhibit 10.1 to this Form 8-K and is 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 information set forth in Item 1.01 with respect to the Revolving Credit Agreement is hereby incorporated by reference into this Item 2.03 insofar as it relates to the creation of a direct financial obligation of the Company.
Item 9.01 Financial Statements and Exhibits.
(d) The following exhibits are filed as part of this report:
Exhibit No. Description 10.1 Amended and Restated Credit Agreement, dated as ofMarch 21, 2011 , as amended and restated as ofJune 26, 2014 , as further amended and restated as ofJune 30, 2016 , as further amended as ofJuly 13, 2018 , as further amended and restated as ofSeptember 26, 2018 , as further amended as ofNovember 12, 2019 , and as further amended and restated as ofJuly 16, 2021 , amongBrunswick Corporation , the subsidiary borrowers party thereto, the lenders party thereto andJPMorgan Chase Bank, N.A ., as administrative agent.
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