Item 1.01. Entry into a Material Definitive Agreement.
On
Indebtedness under the Credit Agreement will bear interest, at the Company's option based on the currency of such indebtedness, at either (a) a base rate equal to the highest of the NYFRB Rate (as defined in the Credit Agreement) plus 1/2 of 1%, the Adjusted LIBO Rate (as defined in the Credit Agreement) for a one-month interest period plus 1% and the prime rate (as publicly announced from time to time by the administrative agent), as applicable, plus an applicable margin (ranging from 0.25% to 1.125%), (b) at a rate equal to the CDOR Rate (as defined in the Credit Agreement) plus an applicable margin (ranging from 1.25% to 2.125%) or (c) at a rate equal to the Adjusted LIBO Rate plus an applicable margin (ranging from 1.25% to 2.125%). The Company incurs a commitment fee on the unused portion of the commitments (which calculation of such unused portion excludes amounts borrowed as swingline loans except to the extent that a lender has purchased a participation in a swingline loan) at a rate ranging from 0.150% to 0.350%. In each case, the applicable margin and commitment fee rate is based upon the rating issued from time to time by Moody's and S&P, as applicable, to the Company's senior, unsecured, non-credit enhanced long-term debt.
The foregoing description of the Amendment does not purport to be complete. The description of the Amendment herein is qualified by reference to the copy of the Amendment filed as Exhibit 10.1 to this report, which is incorporated by reference into this report in its entirety.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 is incorporated into this Item 2.03 by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit. 10.1*+ Second Amendment to Senior Unsecured 5-Year Revolving Credit Agreement, dated as ofApril 30, 2021 , amongHollyFrontier Corporation , as borrower,MUFG Bank, Ltd. , as administrative agent, and the lenders party thereto.* 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Filed Herewith
+ Schedules and exhibits have been omitted pursuant to Item 601(a)(5) of
Regulation S-K. The registrant agrees to furnish supplementally a copy of the
omitted schedules and exhibits to the
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