Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
Credit Agreement Amendment
On December 12, 2021, Iron Mountain Incorporated (the "Company") obtained a
technical amendment (the "Amendment") to the Credit Agreement, dated as of June
27, 2011 (as amended, restated, supplemented or otherwise modified from time to
time, the "Credit Agreement"), by and among, inter alia, the Company, the other
borrowers and guarantors party thereto, the lenders party thereto, and JPMorgan
Chase Bank, N.A., as the administrative agent. The Amendment will allow the
Company to treat Intercept Parent, Inc. ("ITRenew") as a wholly-owned subsidiary
under the Credit Agreement in connection with the Company's acquisition (the
"Acquisition") of ITRenew pursuant to the acquisition agreement dated December
10, 2021 among Iron Mountain Information Management Services, Inc. ("IMIMS"),
ITRenew, Intercept Intermediate II, L.L.C., solely for certain limited purposes,
the Company, and the other signatories thereto, notwithstanding that IMIMS will
acquire approximately 80% of the equity of ITRenew at the closing of the
Acquisition. Except for the technical amendments described above, the terms of
the Credit Agreement are unchanged, including as to maturity, amortization,
events of default and interest rate.
As of September 30, 2021, the Company had approximately $310 million, $206
million and $674 million of outstanding borrowings under the Revolving Credit
Facility, the Term Loan A Facility and Term Loan B Facility, respectively, under
the Credit Facility.
The above description of the Amendment is not complete and is subject to and
qualified in its entirety by reference to the Amendment and the Credit
Agreement, a copy of which is attached as Exhibit 10.1 to this report and
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Fifth Amendment, dated as of December 12, 2021, to Credit Agreement,
dated as of June 27, 2011, as amended and restated, among the Company,
certain other subsidiaries of the Company party thereto, the lenders and
other financial institutions party thereto, JPMorgan Chase Bank, N.A.,
Toronto Branch, as Canadian Administrative Agent, and JPMorgan Chase
Bank, N.A., as Administrative Agent. (Filed herewith)
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded
within the inline XBRL document).
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