Item 1.01. Entry into a Material Definitive Agreement
Credit Agreement Amendment
On
The Repriced Term Loans require scheduled quarterly payments equal to 0.25% of
the aggregate outstanding principal amount as of the Closing Date, with the
remaining balance payable at maturity. We may make voluntary prepayments on the
Repriced Term Loans at any time prior to maturity at par, subject to a 1.00%
prepayment premium in the event of certain specified refinancing events at any
time during the first six months after the Closing Date. The Repriced Term Loans
have an interest rate calculated as, at our option, either (a) LIBOR determined
by reference to the costs of funds for Eurodollar deposits for the interest
period relevant to such borrowing, adjusted for certain additional costs
("Adjusted LIBOR") with a floor of 0.75%, or (b) a base rate determined by
reference to the highest of (i) the federal funds rate plus 0.50% per annum,
(ii) the prime rate published by the
Other than as described above, the loans under the Amended and Restated Credit Agreement continue to have the same terms as provided under the Existing Credit Agreement. Additionally, the parties to the Amended and Restated Credit Agreement continue to have the same obligations set forth in the Existing Credit Agreement.
The foregoing description of the Credit Agreement Amendment and the Amended and Restated Credit Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the full text of the Credit Agreement Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated by reference herein, and the full text of the Amended and Restated Credit Agreement, a copy of which is attached as Annex A to the Credit Agreement Amendment and incorporated by reference herein.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is incorporated into this Item 2.03 by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1 Incremental Assumption and Amendment Agreement No. 10, dated as ofJanuary 27, 2021 , by and amongPrime Security Services Holdings, LLC ,Prime Security Services Borrower, LLC , the lenders party thereto and Barclays Bank PLC, as administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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