SMTC CORPORATION Item 1.01 Entry into a Material Definitive Agreement.
Fifth Amendment to Amended and Restated Revolving Credit and Security Agreement
On
The PNC Amendment, among other things, (i) amends the definition of
"Consolidated EBITDA" by permitting an addback for non-recurring labor costs,
temporary employee bonuses to reduce absenteeism, personal protective equipment
costs, facility sanitation costs, and excess freight and logistics costs, not to
exceed an additional
The foregoing description of the PNC Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the PNC Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Sixth Amendment to Financing Agreement
On
The TCW Amendment, among other things, amends the definition of "Consolidated
EBITDA" by permitting an addback for non-recurring labor costs, temporary
employee bonuses to reduce absenteeism, personal protective equipment costs,
facility sanitation costs, and excess freight and logistics costs, not to exceed
an additional
The foregoing description of the TCW Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the TCW Amendment, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure provided under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03 as if fully set forth herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
10.1 Fifth Amendment to Amended and Restated Revolving Credit and Security
Agreement, by and among SMTC Corporation , SMTC Manufacturing Corporation
of California , SMTC Mex Holdings, Inc. , HTM Holdings, Inc. , MC Test
Service, Inc. , MC Assembly International LLC , MC Assembly LLC , the
financial institutions party thereto and PNC Bank, National Association ,
as agent for the lenders, dated September 25, 2020 . * †
10.2 Amendment No. 6 to Financing Agreement, by and among SMTC Corporation ,
the borrowers party thereto, each other loan party thereto, the lenders
party thereto, TCW Asset Management Company LLC , as administrative agent
for the lenders, and TCW Asset Management Company LLC , as collateral
agent for the lenders, dated September 25, 2020 .*
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
* Filed herewith.
† Pursuant to Item 602(b)(2) of Regulation S-K, certain immaterial provisions
of the agreement that would likely cause competitive harm to the Company if
publicly disclosed have been redacted or omitted.
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