On November 2, 2022, Helen of Troy Limited and Helen of Troy Texas Corporation entered into that certain Fifth Amendment to Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the other lenders party thereto. All obligations under the Credit Agreement are unconditionally guaranteed by the Company and certain of the Company's subsidiaries. The Amendment, among other things, permits the Company to enter into certain supply chain financing programs, structured vendor payable programs, payable financing programs or other similar financing programs, subject to certain conditions.

The Amendment also provides that these permitted supply chain arrangements are excluded for purposes of determining compliance with the maximum Leverage Ratio (as defined in the Credit Agreement). The Credit Agreement requires the maintenance of certain financial covenants, including the maximum Leverage Ratio described above and a minimum Interest Coverage Ratio (as defined in the Credit Agreement), and includes customary representations and warranties, and covenants, including, among other things, covenants restricting or limiting the Company and its subsidiaries, except under certain conditions set therein, from (1) incurring liens on any of their respective properties, (2) making certain types of investments, (3) incurring additional indebtedness, and (4) assigning or transferring certain licenses. The Credit Agreement contains customary events of default, including, among other things, non-payment by any borrower, non-compliance with certain covenants by the Company or its subsidiaries party to such agreement, the bankruptcy filing of the Company or its subsidiaries, and a default by the Company or its subsidiaries under certain other agreements related to indebtedness of the Company or its subsidiaries.

Upon an event of default under the Credit Agreement, the lenders under the Credit Agreement may, among other things, accelerate the maturity of any amounts outstanding under such agreement and terminate any commitments and obligations of the lenders thereunder.