Item 1.01. Entry into a Material Definitive Agreement.
Credit Agreement
On
The Amendment extends the maturity of the existing
With this amendment, the Company has extended both the maturity of its revolving
credit facility by four years and the maturity of
The Term Loan A Facility will be subject to the same prepayment provisions and covenants applicable to the existing term loan B facility, subject to customary exceptions and limitations, and will be subject to quarterly amortization of principal as follows: (i) 0.0% per annum of the initial aggregate principal amount of the Term Loan A Facility during the first year following the Closing Date, (ii) 5.0% per annum of the initial aggregate principal amount of the Term Loan A Facility payable in equal quarterly installments during the second and third years following the Closing Date and (ii) 7.5% per annum of the initial aggregate principal amount of the Term Loan A Facility payable in equal quarterly installments during the fourth and fifth years following the Closing Date, with final payments of all amounts outstanding, plus accrued interest, being due on the maturity date (e.g. in April 2027).
The foregoing summary description of the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K (this "Current Report") and is 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 included in Item 1.01 of this Current Report is incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibit is furnished with this report:
Exhibit No. Description Exhibit 10.1 Third Amendment, dated as ofApril 8, 2022 , to the Credit Agreement, dated as ofMay 30, 2018 , as amended by the First Amendment, dated as ofApril 30, 2020 , and the Second Amendment, dated as ofAugust 10, 2020 , withBank of America, N.A ., as administrative agent, the several lenders from time to time party thereto, and the other parties thereto. Exhibit 104 Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
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