Teradata Corporation Enters into Second and Third Amendments to its Revolving Credit Agreement; Announces Retirement of Edward P. Boykin from the Board of Directors
January 28, 2016 at 10:18 pm
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On January 22, 2016, Teradata Corporation entered into second amendments to its revolving credit agreement dated as of March 25, 2015 with Bank of America, N.A., as Administrative Agent, JPMorgan Chase Bank, N.A., as Syndication Agent, Citibank, N.A., HSBC Bank USA, N.A., the Bank of Tokyo-Mitsubishi UFJ Ltd. and U.S. Bank National Association, as Co-Documentation Agents, and the other lenders party thereto and to its term loan agreement dated as of March 25, 2015 with JPMorgan Chase Bank, N.A., as Administrative Agent, Bank of America, N.A., as Syndication Agent, Citibank, N.A., HSBC Bank USA, N.A., The Bank of Tokyo-Mitsubishi UFJ Ltd. and U.S. Bank National Association, as Co-Documentation Agents, and the other lenders party thereto. The second amendments amend the definition of the term Change in Control in the revolving credit agreement and the term loan agreement in certain respects. A Change in Control, constitutes an event of default under both agreements. On January 22, 2016, the company also entered into third amendments to the revolving credit agreement and the term loan agreement. The third amendments modify certain covenants made by Teradata in the revolving credit agreement and the term loan agreement to expressly permit the sale or other disposition by Teradata of its marketing applications business so long as such sale or other disposition is consummated on or before January 31, 2017.
On January 26, 2016, Mr. Edward P. (Pete) Boykin, a director of the company, notified that he will retire from the Teradata board of directors at the 2016 annual meeting of stockholders and, accordingly, he will not be standing for reelection by the stockholders at the meeting and will resign from the board of directors effective at the end of his current term, which expires at the annual meeting. On January 26, 2016, the Teradata board of directors also reduced the number of directors on the board and in the class of directors to be elected at the 2016 annual stockholders' meeting (Class III) by one, effective with the expiration of Mr. Boykin's current term at the 2016 annual meeting of stockholders.
Teradata Corporation (Teradata) is focused on providing a connected multi-cloud data platform for enterprise analytics. The Companyâs Teradata Vantage is its open and connected platform that is designed to allow organizations to leverage all their data across an enterprise, whether in public or private clouds, in a multi-cloud environment, or on-premises, and at the scale. Teradata Vantage comprises deployment options that are designed to address the full span of analytics and data needs while providing optimized total cost of ownership and financial governance. Its Teradata VantageCloud is a flexible, connected, and modern cloud platform and includes Teradata VantageCloud Lake, which is built on its cloud-native lake architecture, and Teradata VantageCloud Enterprise for managed enterprise workloads. Teradata VantageCore is an on-premises data and analytics offering, which integrates with its cloud offerings to enable hybrid environments that various enterprises currently demand.
Teradata Corporation Enters into Second and Third Amendments to its Revolving Credit Agreement; Announces Retirement of Edward P. Boykin from the Board of Directors