Item 1.01 Entry into a Material Definitive Agreement.
On
The Senior Term Facilities are (i) secured by a first priority lien on
substantially all assets of the loan parties (other than accounts receivable and
inventory) and a second priority lien on accounts receivable and inventory and
related collateral of the loan parties and (ii) guaranteed on a senior secured
basis, jointly and severally, by the Company and certain of its subsidiaries.
Guarantees and collateral provided by
The interest rates applicable to the loans under the Senior Term Facilities are based on, at the borrower's option, (i) in the case of the Term B-6 Loans, a fluctuating rate of interest determined by reference to a base rate plus an applicable margin equal to 1.00% or a Eurocurrency rate plus an applicable margin equal to 2.00% (in each case with a 0.25% stepdown based on achievement of a specific leverage level). The interest rate applicable to the Term B-5 loans remain unchanged.
The foregoing summary of the Senior Term Facilities does not purport to be complete and is qualified in its entirety by reference to the complete terms of the Sixth Amendment and the Amended Credit Agreement, filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information contained in Item 1.01 above is hereby incorporated by reference into this Item 2.03, insofar as it relates to the creation of a direct financial obligation.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
See the Exhibit Index set forth below for a list of exhibits included with this Current Report on Form 8-K.
--------------------------------------------------------------------------------
© Edgar Online, source