BRP GROUP, INC. : Conclusion of a material definitive agreement, creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant, financial statements and supporting documents (Form 8-K)

Article 1.01. The conclusion of an important definitive agreement.

At June 2, 2021 (the “Closing Date”), Baldwin Risk Partners, LLC (“BRP SARL“), a subsidiary of BRP Group, inc., as a borrower, has entered into an addendum n ° 2 to the credit agreement (as defined below) (the “amendment”) with JPMorgan Chase Bank, NA., as administrative agent (the “Agent”), certain major subsidiaries of BRP SARL (together with BRP SARL, the “parties to the loan”), as guarantors, and the various banks, financial institutions, institutional investors and other entities which are parties to it as lenders and issuers of letters of credit, under which this credit agreement, dated October 14, 2020, among the Parties to the Loan, the Agent and the various banks, financial institutions, institutional investors and other entities from time to time which are parties to it as lenders and issuers of letters of credit (as modified by this amendment no. 1, dated May 7, 2021, the “Credit Agreement”), has been amended to, among other things, provide for a new senior secured senior term loan facility with an aggregate principal amount of $ 500 million (the resulting loans, the “new term loans”). The new term loans were funded on the closing date, part of the proceeds of which was used to repay in full all original term loans (as defined in the credit agreement) outstanding under the credit agreement at the closing date. The remaining proceeds from the new term loans are available to finance working capital requirements and other general corporate purposes.
BRP SARL and certain of its subsidiaries (including acquisitions and other investments authorized under the credit agreement).

New Term Loans bear interest at an annual rate based on, depending on the type of loan, the Eurodollar rate plus 3.50% or the alternative base rate plus 2.50%, subject to a Eurodollar floor rate. 0.50% and an alternative base rate of 1.50%. The new term loans are otherwise subject to the same conditions to which the original term loans (as defined in the credit agreement) were subject under the terms of the credit agreement.

The foregoing description of the terms of the Amendment is not a complete description of it and is qualified in its entirety by the entire text of this Agreement which is filed as Exhibit 10.1 hereof and incorporated herein by reference. .

Article 2.03. Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant.

The information required by this section is included in section 1.01 of this current report on Form 8-K and is incorporated herein by reference.

Article 9.01. Financial statements and supporting documents.


(d) Exhibits



Exhibit No.                                 Description

10.1              Amendment No. 2 to Credit Agreement, dated as of June 2, 2021, by
                and among Baldwin Risk Partners, LLC, a Delaware limited liability
                company, JPMorgan Chase Bank, N.A., as the Administrative Agent, the
                Guarantors party thereto, the Lenders party thereto and the Issuing
                Lenders party thereto

104             Cover Page Interactive Data File (embedded within the inline XBRL
                document)

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