Item 1.01 Entry into a Material Definitive Agreement.

October 6, 2021, Park City Group, Inc. (the "Company") and U.S. Bank N.A. (the "Bank") executed a Revolving Credit Agreement (the "Revolving Credit Agreement") and accompanying addendum (the "Addendum"), and Stand-Alone Revolving Note (the "Note" and collectively with the Revolving Credit Agreement and Addendum, the "Credit Agreement"), with an effective date of September 30, 2021. The Credit Agreement replaces the Company's prior $6.0 million Revolving Credit Agreement and Stand-Alone Revolving Note between the Company and the Bank, as amended and revised on January 9, 2019.

The Credit Agreement provides the Company with a $10.0 million revolving line of credit that matures on March 31, 2023. Any amounts drawn down by the Company under the Credit Agreement will accrue interest at an annual rate equal to 1.75% plus the one-month LIBOR rate. In addition, the Credit Agreement contains customary affirmative and negative covenants and conditions to borrowing, as well as customary events of default. Among other things, the Company must maintain liquid assets equal to the outstanding balance of the Note, and maintain a Senior Funded Debt (as defined in the Credit Agreement) to EBITDA Ratio (as defined in the Credit Agreement) of not more than 3:1.

The foregoing is only a summary of the material terms of the Revolving Credit Agreement, Addendum, and Note and do not purport to be complete and are qualified in their entirety by reference to the Revolving Credit Agreement, Addendum, and Note, copies of which are attached to this Current Report on Form 8-K as Exhibit 10.1, and Exhibit 10.2 and 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.

See Item 1.01 in regards to the Revolving Credit Agreement, the Addendum, and the Note.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits



Exhibit     Description
Number
            Revolving Credit Note and Revolving Credit Agreement, dated September
  10.1      30, 2021, between Park City Group, Inc., and U.S. Bank National
            Association.
  10.2      Addendum to Revolving Credit Agreement, dated September 30, 2021,
            between Park City Group, Inc., and U.S. Bank National Association.

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