Griffon Corporation on January 24, 2022 with certain of its subsidiaries entered into the Second Amendment to Fourth Amended and Restated Credit Agreement pursuant to which the Fourth Amended and Restated Credit Agreement, dated as of January 30, 2020, was amended and restated, with Bank of America, N.A., as administrative agent, and the several banks and other financial institutions or entities from time to time parties thereto. The Amended Credit Agreement provides for, among other things, the incurrence of a new Term B Loan in the aggregate principal amount of $800,000,000 (the “Term B Loan”) pursuant to a senior secured term loan facility, the proceeds of which were used to fund, in part, the Hunter Acquisition. The Company's obligations under the Term B Facility are secured by the liens securing the revolving credit facility under the Existing Credit Agreement pursuant to the Guarantee and Collateral Agreement, dated as of March 18, 2011 (as amended, the “Guarantee and Collateral Agreement”).

Hunter Fan Company and certain of its affiliates became guarantors under the Amended Credit Agreement and pledged substantially all of their assets (excluding real property and certain other exceptions) pursuant to a joinder to the Guarantee and Collateral Agreement. The existing $400,000,000 revolving credit facility under the Existing Credit Agreement (the “Revolving Credit Facility”) remains in place under the Amended Credit Agreement. The Amended Credit Agreement contains a feature that permits the Company to incur incremental debt by up to the greater of (i) $375,000,000 and (ii) an amount such that the consolidated senior secured net leverage ratio shall not exceed 3.5x.

The Amended Credit Agreement also permits the Company to refinance loans under the Amended Credit Agreement, subject to customary conditions. The Amended Credit Agreement also provides the Company with the ability to request and obtain an extension of the maturity date for some or all of the loans and/or commitments under the Amended Credit Agreement from individual lenders, subject to customary conditions. The consent of each individual affected lender is required to extend the maturity of such lender's loan and/or commitment under the Amended Credit Agreement.