Yellow ex YRC Worldwide : New Financial Obligation - Form 8-K

Item 1.01.

Entry into a Material Definitive Agreement.

Junior Debtor-In-Possession("DIP") Credit Agreement Amendment

As previously disclosed, on August 6, 2023 (the "Petition Date"), Yellow Corporation (the "Company") and certain of its direct and indirect subsidiaries (collectively, the "Company Parties"), filed voluntary petitions for relief (the "Chapter 11 Cases") under Chapter 11 of the U. S. Bankruptcy Code in the U. S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). The Chapter 11 Cases are being jointly administered under the caption In re: Yellow Corporation, et al., Case No. 23-11069.

On November 28, 2023, the Company entered into Amendment No. 2 to Junior Secured Super-Priority Debtor-In-PossessionCredit Agreement (this "Junior DIP CreditAgreement Amendment"), by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors, the lenders party thereto from time to time and Alter Domus Products Corp., as administrative agent and collateral agent (acting collectively in such capacities, the "Administrative Agent"), under that certain Junior Secured Super-Priority Debtor-in-PossessionCredit Agreement, dated as of September 6, 2023 by and among the Borrower, the Guarantors party thereto from time to time, the Lenders and the Administrative Agent (as amended by Amendment No. 1 to the Junior Secured Super-Priority Debtor-in-PossessionCredit Agreement, dated as of November 17, 2023), the "Junior Secured Super-Priority-Debtor-In-Possession Credit Agreement"). Capitalized terms used but not otherwise defined in this Current Report on Form 8-Khave the meanings given to them in the Junior DIP Credit Agreement Amendment.

The Junior DIP Credit Agreement Amendment amends the Junior Secured Super-Priority-Debtor-In-PossessionCredit Agreement for a technical change as required by MFN Partners, L.P. and its auditors to remove the "per annum" language in Section 2.05(a) of the Junior Secured Super-Priority-Debtor-In-Possession Credit Agreement in order to provide additional clarity that the 7.5% is in regard to an exit fee and should not otherwise be construed as a ticking fee.

The foregoing description of the Junior DIP Credit Agreement Amendment does not purport to be complete, and each description is subject to, and qualified in its entirety by, the full text of the Junior DIP Credit Agreement Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-Kand is incorporated herein by reference.