On March 21, 2022, Cross Country Healthcare, Inc. amended its ABL Credit Agreement dated October 25, 2019, as amended, restated or otherwise modified from time to time, among the Company, substantially all of its wholly-owned subsidiaries, and Wells Fargo Bank N.A., as lender and administrative agent. The facility may be further syndicated at a later date. The amendment increases the current aggregate committed size of the asset-based credit facility from $150 million to $300 million, extends the credit facility for an additional five years, and increases certain borrowing base sub-limits.

In addition, the agreement provides the option for all or a portion of the borrowings to bear interest at a rate based on SOFR or base rate, at the election of the borrowers, plus an applicable margin. The applicable margin will increase 10 basis points due to the credit spread associated with the transition to SOFR.