On December 21, 2023, Oklahoma corporation, Patriot Transportation Holding, Inc. and certain of Parent?s and the Company?s subsidiaries entered into that certain Credit Agreement with BMO Bank, N.A., as administrative agent and swing line lender (the ?Agent?), the lenders from time to time party thereto, and the guarantors from time to time party thereto (the ?Credit Agreement?), which provides for (i) a senior revolving credit facility in the principal amount of up to $40,000,000 and (ii) a senior term loan bridge facility in the principal amount of up to $17,192,900. Certain of Parent?s and the Company?s subsidiaries are the borrowers, and Parent, the Company and certain of the Company?s subsidiaries are guarantors, under the Credit Agreement. The obligations under the Credit Agreement are secured on a first priority basis by substantially all assets of Parent and the guarantors (subject to certain exclusions and exceptions).

The Credit Agreement includes representations and warranties, covenants, events of default and other provisions that are customary for a credit facility of this type.