Item 1.01 Entry Into a Material Definitive Agreement
On
The Financing Agreement contains customary affirmative and negative covenants,
including covenants that limit or restrict our ability to, among other things,
grant liens, make investments, incur indebtedness, merge or consolidate, dispose
of assets, make acquisitions, pay dividends or make distributions, repurchase
stock, enter into transactions with affiliates and enter into restrictive
agreements, in each case subject to customary exceptions for a credit facility
of this size and type. We are also required to maintain adjusted EBITDA of at
least
The Financing Agreement also contains customary events of default including, among others, payment defaults, breaches of covenants, bankruptcy and insolvency events, cross defaults with certain material indebtedness, judgment defaults, and breaches of representations and warranties. Upon an event of default, Lender may declare all or a portion of our outstanding obligations payable to be immediately due and payable and exercise other rights and remedies provided for under the Financing Agreement.
The foregoing description of the Financing Agreement is qualified in its entirety by reference to the full text of the Amended and Restated Business Financing Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
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 in Item 1.01 hereof is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. Exhibit No. Description 10.1 Second Business Financing Modification Agreement and Waiver of Defaults dated as ofJanuary 25, 2023
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