Article 1.01. The conclusion of an important definitive agreement.
At
company (“Colonial”),
Amendment No. 3 to the Agreement (the “Amendment”) extends the term of the Company’s revolving credit facilities to
To
joined the group of lenders. The lender group now includes
engagement, from
The Addendum also amends the distribution limitations under the Agreement to renew the aggregate limit on repurchases by the Company of its common shares authorized under the Agreement. As amended, the distribution limitations under the Agreement allow the Company to repurchase shares of its common stock as long as: (a) the total amount of repurchases after
In addition, the Amendment increases the amount of authorized capital expenditures of the Company by
Finally, the Amendment adds certain mechanisms for the replacement of LIBOR as the benchmark interest rate applicable under the Agreement, including mechanisms to switch to the termination of LIBOR at a rate based on the overnight funding rate. the guaranteed day (“SOFR”) published by the
Certain members of the loan group under the Agreement, or their respective affiliates, have or may have various relationships with the Company and its subsidiaries involving the provision of a variety of financial services, including cash management, commercial banking, trust, financial advice or other financial and business services, for which they have received, or will receive, customary fees and expenses.
The above descriptions are summaries and are qualified in their entirety by Amendment # 3, which is filed as an attachment to this report and is 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 set forth above in Section 1.01 is hereby incorporated by reference into this Section 2.03.
Article 9.01. Financial statements and supporting documents.
(d) Exhibitions.
10.1 Third Amended and Restated Loan and Security Agreement datedSeptember 30, 2019 , amongAmerica's Car-Mart, Inc. , aTexas corporation, as Parent;Colonial Auto Finance, Inc. , anArkansas corporation,America's Car Mart, Inc. , anArkansas corporation, andTexas Car-Mart, Inc. , aTexas corporation, as Borrowers; and certain financial institutions, as Lenders, withBMO Harris Bank, N.A ., as Agent, Lead Arranger and Book Manager (Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed with theSEC onOctober 1, 2019 ). 10.2 Amendment No. 1 to Third Amended and Restated Loan and Security Agreement datedOctober 29, 2020 , amongAmerica's Car-Mart, Inc. , aTexas corporation, as Parent;Colonial Auto Finance, Inc. , anArkansas corporation,America's Car Mart, Inc. , anArkansas corporation, andTexas Car-Mart, Inc. , aTexas corporation, as Borrowers; and certain financial institutions, as Lenders, withBMO Harris Bank, N.A ., as Agent, Lead Arranger and Book Manager (Incorporated by reference to Exhibit 4.2 to the Company's Current Report on Form 8-K filed with theSEC onNovember 4, 2020 ). 10.3 Amendment No. 2 to Third Amended and Restated Loan and Security Agreement datedFebruary 10, 2021 , amongAmerica's Car-Mart, Inc. , aTexas corporation, as Parent;Colonial Auto Finance, Inc. , anArkansas corporation,America's Car Mart, Inc. , anArkansas corporation, andTexas Car-Mart, Inc. , aTexas corporation, as Borrowers; and certain financial institutions, as Lenders, withBMO Harris Bank, N.A ., as Agent, Lead Arranger and Book Manager (Incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed with theSEC onFebruary 16, 2021 ). 10.4 Amendment No. 3 to Third Amended and Restated Loan and Security Agreement datedSeptember 29, 2021 , amongAmerica's Car-Mart, Inc. , aTexas corporation, as Parent;Colonial Auto Finance, Inc. , anArkansas corporation,America's Car Mart, Inc. , anArkansas corporation, andTexas Car-Mart, Inc. , aTexas corporation, as Borrowers; and certain financial institutions, as Lenders, withBMO Harris Bank, N.A ., as Agent, Lead Arranger and Book Manager. 99.1 Press release announcing Amendment No. 3 to the Third Amended and Restated Loan and Security Agreement. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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