Quantum : Amendment to Amended and Restated Revolving Credit Agreement (Form 8-K)

Amendment to Amended and Restated Revolving Credit Agreement

On September 30, 2021, Quantum Corporation (the "Company") entered into an amendment (the "Revolver Amendment") to the Amended and Restated Revolving Credit and Security Agreement, dated as of December 27, 2018 (as the same may be amended, modified, supplemented, renewed, restated or replaced from time to time, the "Revolving Credit Agreement"), among the Company, Quantum LTO Holdings, LLC, the borrowers and guarantors from time to time party thereto, the lenders from time to time party thereto, and PNC Bank, National Association, as administrative agent for such lenders.

The Revolver Amendment amends certain terms of the Revolving Credit Agreement, including extending the maturity date thereof to August 5, 2026 and reducing the principal amount of the revolving commitments thereunder to $30,000,000.

With respect to any LIBOR Rate Loan (as defined in the Revolving Credit Agreement) under the Revolving Credit Agreement, the Company has agreed to pay Blue Torch Capital LP, on behalf of itself and certain of its affiliates and funds managed, advised or sub-advised by it (collectively, "Blue Torch Capital"), a cash fee equal to a percentage per annum equal to the sum of (x) 6.00%, minus (y) the Applicable Revolving Margin (as defined below), plus (z) if the LIBOR Rate (as defined in the Revolving Credit Agreement) applicable to such interest payment under the Revolving Credit Agreement is less than 0.75%, (i) 0.75% minus (ii) such LIBOR Rate.

With respect to any Domestic Rate Loan or Swing Loan (in each case as defined in the Revolving Credit Agreement) under the Revolving Credit Agreement, the Company has agreed to pay Blue Torch Capital a cash fee equal to a percentage per annum equal to the sum of (x) 5.00%, minus (y) the Applicable Revolving Margin, plus (z) if the Alternative Base Rate (as defined in the Revolving Credit Agreement) applicable to such interest payment under the Revolving Credit Agreement is less than 1.00%, (i) 1.00% minus (ii) such Alternative Base Rate.

The Applicable Revolving Margin is 2.25% per annum for LIBOR Rate Loans and 1.25% per annum for Domestic Rate Loans and Swing Loans through December 31, 2021, and effective as of January 1, 2022 on the first day of each fiscal quarter ending thereafter (the "Applicable Margin Adjustment Date"), between 1.75% and 2.25% per annum for LIBOR Rate Loans and between 0.75% and 1.25% per annum for Domestic Rate Loans and Swing Loans, based on the percentage of Average Undrawn Availability (as defined in the Revolving Credit Agreement) for the most recently completed fiscal quarter prior to the Applicable Margin Adjustment Date.

If on the last day of any calendar quarter, the average Usage Amount (as defined in the Revolving Credit Agreement) during such calendar quarter does not equal the Maximum Revolving Advance Amount (as defined in the Revolving Credit Agreement), then the Company has agreed to pay Blue Torch Capital a cash fee at a rate per annum equal to 1.00% minus a fee percentage between 0.25% to 0.375% on the amount by which the Maximum Revolving Advance Amount exceeds such average Usage Amount.

Amendment to Term Loan Credit and Security Agreement

On September 30, 2021, the Company entered into an amendment (the "Term Loan Amendment") to the Term Loan Credit and Security Agreement, dated as of August 5, 2021 (as the same may be amended, modified, supplemented, renewed, restated or replaced from time to time, the "Term Loan Credit Agreement"), among the Company, Quantum LTO Holdings, LLC, the borrowers and guarantors from time to time party thereto, the lenders from time to time party thereto, and Blue Torch Finance LLC, as disbursing agent and collateral agent for such lenders.

The Term Loan Amendment amends certain terms of the Term Loan Credit Agreement, including updating certain reporting requirements and events of default provisions and the definition of permitted acquisitions and permitted investments.

The foregoing descriptions of the Revolver Amendment and the Term Loan Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of the Revolver Amendment and the Term Loan Amendment, which are filed as Exhibits 10.1 and 10.2 hereto, respectively, and the Revolving Credit Agreement and the Term Loan Credit Agreement, which were previously filed with the Securities and Exchange Commission, each of which is incorporated herein by reference.

Financial Statements and Exhibits.

Exhibits Number	Description
10.1	Seventh Amendment to Amended and Restated Revolving Credit and Security Agreement, dated September 30, 2021, between the Company, Quantum LTO Holdings, LLC, the borrowers and guarantors party thereto, the lenders party thereto, and PNC Bank, National Association, as administrative agent
10.2	First Amendment to Term Loan Credit and Security Agreement, dated September 30, 2021, among the Company, Quantum LTO Holdings, LLC, the borrowers and guarantors party thereto, the lenders party thereto, and Blue Torch Finance LLC, as disbursing agent and collateral agent
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)