Item 1.01. Conclusion of a significant definitive agreement.
composed of a
(so that term loans do not exceed
• Maximum total debt to total asset value ratio not to exceed 0.60:1.00; • Ratio of Adjusted EBITDA to fixed charges ratio not less than 1.50:1.00; • Maximum secured debt to total asset value ratio not to exceed 0.40:1.00; • Ratio of unencumbered NOI to unsecured interest expense not less than 1.75:1.00; and • Maximum unsecured debt to unencumbered asset value ratio not to exceed 0.60:1.00.
The Term Loan Agreement contains customary affirmative and negative covenants which, among other things, limit the Company’s ability to pay dividends and enter into certain transactions. Failure to comply with these covenants or any other event of default shall entitle the Administrative Agent to accelerate the
As part of the Term Loan Agreement, the Company has entered into a guarantee (the “Guarantee”) under which it absolutely, irrevocably and unconditionally guarantees to the administrative agent for the benefit of the lenders parties to the Loan Agreement Term, the payment and performance of the obligations of the
The foregoing descriptions of the Term Loan Agreement and Security are summaries only and are qualified in their entirety by reference to the full text of the Term Loan Agreement and Security, copies of which are attached to present as exhibits 10.1 and 10.2, respectively, each of which is incorporated herein by reference.
Section 2.03. Creation of a Direct Financial Obligation or an Obligation under a
Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Section 1.01 is incorporated herein by reference.
Section 7.01. FD Regulation Disclosure.
Information included in this current report on Form 8-K under this Section 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the obligations of this section, and shall not be deemed incorporated by reference in any filing made by the company or the operating partnership under the Exchange Act or the Securities Act of 1933, as amended (the “Securities Act”), except as expressly provided otherwise by specific reference in such filing.
Section 9.01. Financial statements and supporting documents.
Exhibit No. Exhibit Description 10.1† Term Loan Agreement dated as of
August 22, 202210.2 Guaranty dated as of August 22, 202299.1 Press Release Dated August 22, 2022104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
† Some of the exhibits and appendices to this exhibit have been omitted from
in accordance with SK Rule 601(a)(5). The holder agrees to provide
a copy of all documents and annexes omitted from the
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