On January 27, 2021, Hooker Furniture Corporation and Bradington-Young, LLC, Sam Moore Furniture LLC and Home Meridian Group, LLC (together with the company, the Borrowers), entered into a Third Amendment to the Second Amended and Restated Loan Agreement (the Amendment") with Bank of America, N.A. (BofA"). The Second Amended and Restated Loan Agreement dated as of September 29, 2017 was amended by a First Amendment to Second Amended and Restated Loan Agreement dated as of January 31, 2019, and a Second Amendment to Second Amended and Restated Loan Agreement dated as of November 4, 2020 (as so amended, the Existing Loan Agreement"). Under this Amendment, the Existing $30 million Unsecured Revolving Credit Facility (the Existing Revolver") is increased to $35 million, and such revised amount is available between the date of this Amendment and February 1, 2026. Any amounts outstanding under the Existing Revolver will bear interest at a rate, equal to the then current LIBOR monthly rate (adjusted periodically) plus 1.00%. The Company must pay a fee quarterly equal the actual daily amount of the undrawn amounts of the letters of credit during the specified period times a per annum rate equal to 1.00%. The company will also pay a quarterly fee at a rate of 0.15% on any difference between the Existing Revolver and the amount of credit it actually uses under the Existing Revolver, determined by the actual daily amount of credit outstanding during the specified period. The Company may, on a one-time basis, request an increase in the Existing Revolver by an amount not to exceed $30 million at the Lenders' discretion. Also, in connection with the Amendment, the Company repaid in full the $24.3 million in term loans outstanding under the Existing Loan Agreement.