Item 1.01 Entry into a Material Definitive Agreement.

On February 14, 2022, PotlatchDeltic Corporation (the "Company") and its wholly owned subsidiaries, PotlatchDeltic Forest Holdings, Inc. and PotlatchDeltic Land & Lumber, LLC (collectively, the "Borrowers"), entered into a Sixth Amendment to Second Amended and Restated Term Loan Agreement (the "Amendment") with the Guarantors party thereto, the Lenders party thereto, the Voting Participants party thereto and Northwest Farm Credit Services, PCA, as Administrative Agent (the "Administrative Agent"), amending the Second Amended and Restated Term Loan Agreement dated as of March 22, 2018 among the Borrowers, the Guarantors from time to time party thereto, the Lenders from time to time party thereto and the Administrative Agent. Capitalized terms used and not otherwise defined herein have the meanings set forth in the Amendment.

The Amendment provides for a reset of LIBOR on February 14, 2022 and each annual anniversary thereof for Term Loan M. In addition, the Amendment provides that the Leverage Ratio (a ratio of total consolidated funded indebtedness to the consolidated value of timberlands and other defined assets) may exceed 40% no more than twice during the term of the Amended Term Loan Agreement, provided that the Leverage Ratio does not exceed 50% for two consecutive quarters if the circumstances causing such ratio to exceed 50% occurred in the ordinary course of business. Further, the Amendment includes certain minor changes consistent with the Third Amended and Restated Credit Agreement dated as of December 14, 2021, among the Company, KeyBank National Association, as administrative agent, L/C issuer and swing line lender, and the lenders party thereto, a copy of which was filed as Exhibit 10.1 to our Current Report on Form 8-K filed on December 14, 2021.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.



Exhibit   Description
Number
10.1        Sixth Amendment to Second Amended and Restated Term Loan Agreement
          dated as of February 14, 2022 among PotlatchDeltic Corporation and its
          wholly owned subsidiaries, as borrowers, the guarantors party thereto,
          the lenders party thereto, the voting participants party thereto and
          Northwest Farm Credit Services, PCA, as administrative agent
104       Cover Page interactive data file (Embedded within the Inline XBRL
          document)

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