Item 1.01 Entry into Material Definitive Agreements.
On
The Amendment, among other things, extends the term of the Credit Agreement from
The Company is required to pay an annual facility fee of 0.20 to 0.35 percent on the available commitments under the Credit Agreement, regardless of usage, with the applicable fee determined on a quarterly basis based on the Company's leverage ratio.
Amounts borrowed under the Credit Agreement will bear interest at an annual rate
equal to either, at the Company's option, (a) the rate for Eurocurrency deposits
for the corresponding deposits of
The affirmative and negative covenants of the Company and its subsidiaries and
the events of default under the Credit Agreement described in the Form 8-K filed
by the Company on
In the ordinary course of business, certain of the lenders under the Credit Agreement and their affiliates have provided to the Company and its subsidiaries, and may in the future provide, (i) investment banking, commercial banking cash management, foreign exchange or other financial services, and (ii) services as a bond trustee and other trust and fiduciary services, for which they have received compensation and may receive compensation in the future.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to, and should be read in conjunction with, the full text of the Amendment, is filed as Exhibit 10.1 to this Report and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit No. Description Third Amendment to Credit Agreement, dated as ofMay 21, 2020 , among the Company, as Borrower,Simpson Strong-Tie Company Inc. and 10.1Simpson Strong-Tie International, Inc. , as Guarantors, the several financial institutions party to the Agreement, as Lenders, andWell Fargo Bank , National Association, in its separate capacities as SwingLine Lender and L/C Issuer and as Administrative Agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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