On January 22, 2019, WD-40 Company entered into a seventh amendment (the Seventh Amendment) to its existing unsecured Credit Agreement dated June 17, 2011 with Bank of America, N.A. (Bank of America). The Seventh Amendment amends the Credit Agreement to add WD-40 Company Limited as a Designated Borrower and as a Guarantor of the company’s indebtedness under the Credit Agreement. The Seventh Amendment permits borrowing in Euros and Sterling in addition to U.S. Dollars. The Seventh Amendment reduces the Revolving Commitment from $175.0 million to $125.0 million for the period from the date of the Seventh Amendment to March 22, 2019 and to $100.0 million thereafter. The Seventh Amendment establishes a sublimit for the Revolving Commitment for borrowing by WD-40 Company Limited in the amount of $50.0 million. The new maturity date for the revolving credit facility per the Seventh Amendment is January 22, 2024. In addition, per the terms of the Seventh Amendment, the LIBOR margin will increase to 0.90% from 0.85%, the letter of credit fee will increase to 0.90% from 0.85% per annum and the commitment fee will increase to an annual rate of 0.15% from 0.125%. In addition to other non-material technical amendments to the Credit Agreement, the Seventh Amendment includes a schedule of Permitted Consolidated Capital Expenditures to permit the Company to make contemplated capital investments in the current and future fiscal years in addition to previously authorized aggregate investments of up to $15.0 million in fiscal years 2018 and 2019 for improvements to a building acquired by WD-40 Company Limited on February 23, 2018 in Milton Keynes, England. The Credit Agreement continues to permit the addition of up to $2.5 million of unused Permitted Consolidated Capital Expenditures to be carried over from one fiscal year to the next.