Item 1.01. Entry into a Material Definitive Agreement.
OnJune 23, 2022 , Nature'sSunshine Product, Inc. (the "Company") entered into an amendment (the "Amendment No. 4") to that loan and security agreement datedJuly 11, 2017 (the "Original Loan Agreement") between the Company, as borrower, andBank of America, N.A . (the "Bank"). Amendment No. 4 extends the maturity date of the Original Loan Agreement toJune 1, 2027 and allows the Company to increase the credit commitment to$25,000,000 (up to three instances at a minimum of$5,000,000 each instance), subject to the Bank's internal credit approval each time. Amendment No. 4 does not modify the requirement in the Original Loan Agreement that provides for acceleration of payment upon Events of Default (as defined in the Original Loan Agreement).
Amendment No. 4 amends the interest rate to use the greater of the BSBY Daily Floating Rate or the Index Floor plus 1.5 percentage points.
Among other changes to the Original Loan Agreement, Amendment No. 4 modifies terms related to flood insurance, banking days, successor rates, and electronic books and signatures. The foregoing description of the Original Loan Agreement and Amendment No. 4 does not purport to be a complete statement of the parties' rights and obligations under such agreements and is qualified in its entirety by reference to the full text of the Original Loan Agreement and Amendment No. 4, which are each attached hereto as Exhibits 10.1 and 10.2 to this Report on Form 8-K and incorporated by reference herein.
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 under Item 1.01 of this Report on Form 8-K is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits Item No. Exhibit 10.1 Original Loan Agreement ( Previously
filed as Exhibit 10.1 to the
Current Report on Form 8-K filed on June
16 , 20 20 , and is
incorporated herein by reference. ) 10.2 Amendment No. 4 to Loan Agreement
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