Article 1.01. The conclusion of an important definitive agreement.
As part of the conclusion of the Credit Agreement, the
terminated his previous credit agreement, dated
The credit agreement provides for (i) a
The revolving facility has a maturity date of
The interest rates applicable to loans made under the credit facilities are, at
? in the case of the revolving facility, i.e. a base rate plus a margin of
0.5% to 1.0% per annum or LIBOR plus a margin ranging from 1.5% to 2.0%
per annum; and
? in the case of the Term Loan, i.e. a base rate plus a margin ranging from
0.45% to 0.95% per annum or LIBOR plus a margin ranging from 1.45% to 1.95% per annum
in each case on the basis of the consolidated leverage ratio of the Company. LIBOR, as defined in the Credit Agreement, may at no time be less than 0.0%. In addition, with regard to the revolving facility, the
The credit facilities are guaranteed, jointly and individually, by the Company and certain indirect subsidiaries of the Company. The credit agreement contains customary restrictive covenants which, among other things, restrict, subject to certain exceptions, the ability of the Company,
The credit agreement also contains customary events of default, including failure to make timely payments under the credit facilities, any event or condition that causes other significant debts to become due before their scheduled due date, the non – compliance with certain restrictive clauses and specific cases of bankruptcy and insolvency. The occurrence of an Event of Default under the Credit Agreement may result in the immediate repayment of all loans and other obligations and the termination of the Credit Facilities and allow Lenders to exercise all of the rights and remedies available to them. .
Several lenders and their affiliates have provided, and they and other lenders and their affiliates may in the future provide, various investment banking, commercial banking, trustee and advisory services for the Company and its subsidiaries. for which they have received, and may in the future receive, the usual fees and expenses.
The foregoing description of the Credit Facilities is qualified in its entirety by reference to the Credit Agreement, which is filed hereto as Exhibit 10.1, and is incorporated herein by reference.
Article 2.02. Operating results and financial condition.
The information in this Section 2.02 and the attached Exhibit 99.1 will not be considered “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject. the obligations of this section. and will not be deemed to be incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as indicated by specific reference in such filing.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set out in section 1.01 is incorporated herein by reference.
Article 9.01. Financial statements and supporting documents.
(d) Exhibits. Exhibit No. Document 10.1 Credit Agreement, dated
August 9, 2021, by and among Postal Realty LP, Postal Realty Trust, Inc., the certain subsidiaries from time to time party thereto as guarantors, and Bank of Montreal, as administrative agent, and the several banks and financial institutions party thereto as lenders. 99.1 Press Release of Postal Realty Trust, Inc., dated August 10, 2021. 2
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