Section 1.01 Entering into a Material Definitive Agreement.
The information set out in point 2.03 below is incorporated by reference in this point 1.01.
Section 2.03. Creation of a Direct Financial Obligation or an Obligation under a
Off-Balance Sheet Arrangement
The Credit Agreement has been amended and restated to provide, among other things: (1) the addition of a deferred draw term loan facility (the “DDTL Facility”) in an amount of up to
Borrowings under the New Credit Facility will continue to bear interest, subject to a pricing schedule based on the Company’s total indebtedness. Based on the Company’s current indebtedness, the initial annual interest rates under the New Credit Facility would be (i) SOFR plus 1.20% for the revolving loans (the same applicable margin as in the under the Existing Credit Facility), and (ii) SOFR plus 1.15% for term loans (compared to LIBOR plus 1.20% under the Existing Credit Facility).
The financial covenants under the New Credit Facility are consistent with those of the Existing Credit Facility, except that the Company must henceforth maintain a minimum borrowing base of: (a)
The foregoing description of the Credit Agreement is subject to and qualified in its entirety by reference to the full text of the Credit Agreement, a copy of which is filed herewith as Schedule 10.1 and is incorporated herein by reference.
Section 7.01. FD Regulation Disclosure
A copy of the company
The information contained and referenced in this Section 7.01, including the press release attached as Exhibit 99.1, is “provided” and not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 , as amended (the “Exchange Act”), or otherwise subject to the obligations of Section 18 of the Exchange Act, and shall not be deemed incorporated by reference in any registration statement or other filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, unless expressly stated otherwise in such filing.
Item 9.01 Financial statements and supporting documents.
10.1 Amended and updated credit agreement dated
Agent, Joint Lead Arranger and Joint Bookrunner,
Lead Manager, Joint Bookrunner and Syndication Agent, and the Lenders
Party Hereto 99.1* Dated Registrant Press Release
in the online XBRL document)
*Will be deemed provided and not deposited
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