ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On
The First Amendment was executed primarily to increase the aggregate amount of
the revolving credit commitments to
A new section was added to the ABL Credit Facility to provide that the Company, in consultation with a Sustainability Coordinator, may establish key performance indicators ("KPIs") with respect to certain environmental, social and governance targets of the Company and its subsidiaries, which if mutually agreed, may be incorporated into the ABL Credit Facility through an amendment (an "ESG Amendment"). Upon the effectiveness of an ESG Amendment, the commitment fee and the spreads applicable to revolving loans may be increased or decreased within certain limits based on performance against the KPIs.
The foregoing description of the First Amendment is included to provide information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the First Amendment, which is filed as Exhibit 10.1 hereto 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 in Item 1.01 is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits. Exhibit Number Description 10.1 Amendment No. 1 to ABL Credit Facility, datedJuly 5, 2022 , by and amongBank of America, N.A ., a national banking association, as agent, the financial institutions from time to time parties thereto, andHerc Holdings Inc. ,Matthews Equipment Limited , and certain subsidiaries ofHerc Holdings Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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