Section 1.01 Entering into a Material Definitive Agreement.
The Loan Agreement evidences commitments for (i) deferred draw unsecured term loans for an aggregate amount of up to
Once borrowed, term loans issued under Term Loan Commitment A-1 (“A-1 Term Loans”) are due and payable on the date that is three years after the Effective Date. , unless this maturity date is extended as provided for in the loan. OK. Once borrowed, term loans issued under the A-2 Term Loan Commitment (“A-2 Term Loans”) are repayable in installments until the fifth anniversary of the Effective Date. , any remaining unpaid amount being due and payable on such fifth anniversary of the Effective Date. unless such maturity date is extended in accordance with the provisions of the Loan Agreement.
While outstanding, undrawn term loan commitments incur a commitment fee of 0.15% from the first of the initial term loan funding under the loan agreement and date that falls 120 days after the Effective Date. Once drawn, the A-1 Term Loans will bear interest at the annual rate of Adjusted Term SOFR plus 1.125% or Prime Rate plus 0.125% (subject to a pricing schedule for rating changes). credit and/or leverage of the company) and term A- 2 The loans will bear interest at the annual rate of the adjusted term SOFR plus 1.25% or the base rate plus 0.25% ( subject to a pricing schedule for changes in the Company’s credit rating and/or leverage).
The Loan Agreement contains various covenants (including financial covenants), limitations and events of default customary for similar facilities for similarly rated borrowers.
Certain of the agents and lenders under the Loan Agreement or their affiliates have various other relationships with the Company and its affiliates involving the provision of financial services, including cash management, loans, letters of credit and bank guarantee facilities, investment banking and fiduciary services.
The foregoing description of the Loan Agreement is qualified in its entirety by reference to the complete terms and conditions of the Loan Agreement, which will be filed as an attachment to the Company’s Quarterly Report on Form 10-Q for its quarter. tax ending
Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information presented in section 1.01 of this report is incorporated by reference in this section 2.03.
© Edgar Online, source