SITEONE LANDSCAPE SUPPLY, INC. : Entering into a Material Definitive Agreement, Creating a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Registrant Arrangement, Financial Statements and Exhibits (Form 8-K)
Item 1.01. Conclusion of a significant definitive agreement.
Loans under the Amended and Restated Credit Agreement will bear interest, at Holding’s option, either (i) at an Adjusted Forward SOFR Rate equal to Forward SOFR plus 0.10% (subject to a floor of 0.00%) plus an applicable margin of 1.25% or 1.50% or (ii) another base rate plus an applicable margin of 0.25% or 0.50%, in each case depending of the Average Daily Excess Availability under the Amended and Restated Credit Agreement, and in each case subject to a reduction of 0.125% where the Total Consolidated Leverage Ratio (as defined in the Credit Agreement modified and updated) is less than 1.50:1.00. In addition, undrawn commitments under the Amended and Restated Credit Agreement are subject to a commitment fee of 0.20% or 0.25%, depending on the average daily undrawn portion of the Commitments under the Amended and Restated Credit Agreement. Loans under the Amended and Restated Credit Agreement will mature and covenants under the Amended and Restated Credit Agreement will terminate,
The foregoing summary is qualified in its entirety by reference to the text of the Seventh Amendment and Amended and Restated Credit Agreement, which are filed as Schedule 10.1 hereto and are incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under a
Off-Balance Sheet Arrangement of a Registrant
The information contained in Section 1.01 regarding the Company’s direct financial obligations under the Amended and Restated Credit Agreement is incorporated herein by reference.
Item 9.01 Financial statements and supporting documents.
(d) Exhibits Exhibit No. Description 10.1 Seventh Amendment to Credit Agreement, dated as of
July 22, 2022, by and among SiteOne Landscape Supply Holding, LLC, SiteOne Landscape Supply, LLC, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the several banks and other financial institutions party thereto. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
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