Item 1.01. Entry into a Material Definitive Agreement.
On
Prior to the effectiveness of the Amendment, the Second Amended and Restated
Credit Agreement included the London Interbank Offered Rate ("LIBOR") as one of
the interest rate benchmark options for
Considering the announced discontinuation of LIBOR, a determination was made by
the Administrative Agent and the Company to amend the Second Amended and
Restated Credit Agreement to replace LIBOR with a new prevailing benchmark
interest rate known as Term SOFR. "Term SOFR" is the forward-looking, per annum
secured overnight financing rate administered by
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the Amendment which is filed as Exhibit 10.1 hereto. The representations and warranties contained in the Amendment were made only for purposes of that agreement and as of specific dates; were solely for the benefit of the parties to the Amendment; and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors should not rely on the representations and warranties or any description thereof as characterizations of the actual state of facts or condition of the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Amendment, which subsequent information may or may not be fully reflected in public disclosures by the Company.
Item 9.01. Financial Statements and Exhibits.
d) Exhibits Exhibit 10.1 Amendment No. 1 to Second Amended & Restated Credit Agreement
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