Item 1.01 Entry into a Material Definitive Agreement.
On
The Credit Agreement replaces and refinances that certain Amended and Restated
Syndicated Facility Agreement, dated as of
Pursuant to the Credit Agreement, the Company has entered into (i) a
The Credit Agreement has a maturity date of
The Credit Agreement includes (i) restrictions customary for facilities of this
type, including covenants that impose restrictions on the Company's ability to,
among other things, borrow funds, dispose of assets, pay dividends, make certain
investments and make certain capital expenditures, (ii) a minimum interest
covenant ratio covenant, tested quarterly with a minimum interest coverage ratio
of 3.00x; (iii) a maximum total net leverage ratio covenant, tested quarterly
with maximum permitted net leverage of, prior to a qualified debt offering,
3.50x for the fiscal quarter ending
The description of the Credit Agreement set forth herein is summary in nature and is qualified in its entirety by reference to the full text of the Credit Agreement, a copy of which is attached hereto as Exhibit 10.1, 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 included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Description of Document Number 10.1 Syndicated Facility Agreement, dated as ofSeptember 8, 2021 , by and amongCiveo Corporation ,Civeo Pty Limited andCiveo Management LLC , as Borrowers, the Lenders named therein, Royal Bank of Canada, as Administrative Agent,U.S. Collateral Agent, Canadian Administrative Agent, Canadian Collateral Agent and anIssuing Bank andRBC Europe Limited , as Australian Administrative Agent, Australian Collateral Agent and anIssuing Bank . 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
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