Item 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
Amended and Restated Credit Agreement
On
The Credit Agreement is unsecured and will mature in
At the Company's option, and subject to customary conditions, borrowings bear
interest at a base rate, a daily floating London Interbank Offered Rate
("LIBOR") rate or a Eurodollar rate, plus an applicable margin based on the
Company's debt ratings. On the earliest of (i) the date that all available
tenors of
Available amounts subject to outstanding letters of credit, and outstanding principal, accrued and unpaid interest and other amounts payable under the facility, may be accelerated upon the occurrence of customary events of default, including (subject to certain materiality thresholds and grace periods) payment defaults, failures to comply with covenants, material inaccuracies of representations or warranties, bankruptcy or insolvency proceedings, changes of control, ERISA matters and cross-defaults to other debt agreements.
The Credit Agreement contains customary affirmative and negative covenants, including, among other things, a covenant requiring the Company not to exceed a maximum ratio of total debt to EBITDA, as defined in the Credit Agreement. The Company may pay dividends and repurchase common stock if it is in compliance with these covenants.
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The foregoing description of the Credit Agreement does not purport to be complete, and is qualified in its entirety by reference to the full text of the Credit Agreement, which is attached hereto as Exhibit 4.1 and is incorporated herein by reference. The Credit Agreement is not intended to be a source of factual, business or operational information about the Company or its subsidiaries. The representations and warranties contained in the Credit Agreement were made only for purposes of such agreement and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed upon by the parties, including being qualified by disclosures for the purpose of allocating contractual risk between the parties instead of establishing matters as facts; and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors or security holders. Accordingly, investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the parties.
Item 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.
On
Item 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
The disclosure required hereunder is provided under Item 1.01 above relating to the entry into the Credit Agreement and is incorporated by reference herein.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
Exhibit No. Description 4.1 Amended and Restated Credit Agreement, dated as ofAugust 17, 2021 , by and amongRepublic Services, Inc. , as Borrower,Bank of America, N.A ., as Administrative Agent, SwingLine Lender and L/C Issuer, and the other lenders party thereto. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document 4
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