ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On November 22, 2021, Carriage Services, Inc. (the "Company") entered into a
first amendment and commitment increase (the "Credit Agreement Amendment") to
its first amended and restated credit agreement dated May 13, 2021 (as amended,
the "Existing Credit Agreement") with the financial institutions party thereto,
as lenders, and Bank of America, N.A., as administrative agent. Pursuant to the
Credit Agreement Amendment, the Revolving Credit Commitment (as defined in the
Existing Credit Agreement) available under the Existing Credit Agreement was
increased from $150 million to $200 million. After giving effect to its entry
into the Credit Agreement Amendment, the Company expects to have
$100,480,565 million of outstanding borrowings under the Existing Credit
Agreement and $99,519,435 million of availability after giving effect to
$2,280,565 million of outstanding letters of credit.
The foregoing description of the Credit Agreement Amendment is qualified in its
entirety by reference to the Credit Agreement Amendment, a copy of which is
attached hereto as Exhibit 10.1, and incorporated by reference herein.
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
The disclosures above under Item 1.01 of this Current Report on Form 8-K are
also responsive to Item 2.03 of this Current Report on Form 8-K and are hereby
incorporated by reference into this Item 2.03.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
10.1 First Amendment and Commitment Increase to First Amended and Restated
Credit Agreement dated as of November 22, 2021, among Carriage Services,
Inc., the financial institutions party thereto, as lenders, and Bank of
America, N.A., as administrative agent, swing line lender and L/C issuer.
104 The cover page from this Current Report on Form 8-K, formatted as Inline
XBRL.
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