Item 1.01Entry into a Material Definitive Agreement.
On
The revolving credit facility under the Loan and Security Agreement is, by its
terms, scheduled to terminate on
The Loan and Security Agreement consists of a
Loans under the Loan Facility bear interest through maturity at a variable rate
based upon, at the Company's option, an annual rate of either a Base Rate or an
adjusted LIBOR rate, plus an applicable margin ("Base Rate Borrowings" and
"LIBOR Rate Borrowings"). The Base Rate is defined as a rate per annum for any
day equal to the greatest of (1) the rate of interest last quoted by The Wall
Street Journal as the "Prime Rate" in
The Loan and Security Agreement contains customary conditions to borrowings, events of default and covenants, including covenants that restrict the Company's ability to sell assets, make changes to the nature of the Company's business, engage in mergers or acquisitions, incur, assume or permit to exist additional indebtedness and guarantees, create or permit to exist liens, pay dividends, issue equity instruments, make distributions or redeem or repurchase capital stock or make other investments, engage in transactions with affiliates and make payments in respect of subordinated debt. The Loan and Security Agreement also requires the Company to maintain compliance with a maximum ratio of consolidated funded debt to consolidated EBITDA of 3.50 to 1.00.
The foregoing description of the Loan and Security Agreement is only a summary and is qualified in its entirety by reference to the full text of the Loan and Security Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8K.
Item 1.02Termination of a Material Definitive Agreement.
On
At the time of termination of the Credit Agreement, the Credit Agreement
consisted of a
Loans under the Credit Facility bore interest through maturity at a variable
rate based upon, at the Company's option, an annual rate of either a Base Rate
or a LIBOR rate, plus an applicable margin ("Credit Facility Base Rate
Borrowings" and "Credit Facility LIBOR Rate Borrowings"). The Base Rate was
defined as a fluctuating interest rate equal to the greatest of (1) the federal
funds rate plus 0.50%, (2)
--------------------------------------------------------------------------------
Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1* Loan and Security Agreement, dated as ofJune 15, 2021 , amongThe Trade Desk, Inc. , the lenders party thereto, andJPMorgan Chase Bank, N.A ., as administrative agent. 104 Cover Page Interactive Data File (formatted as Inline XBRL).
* Portions of this exhibit have been omitted in accordance with Item 601(a)(5)
of Regulation S-K.
--------------------------------------------------------------------------------
© Edgar Online, source