TERM LOAN AGREEMENT

When the limit steps, and which way the company's ratio has been moving.

11.74x5.81x-0.12x

Signed Aug 11, 2026

Committed: $200m
Matures: n/a
Agent: BP COMMERCIAL FUNDING TRUST III, SERIES SPL-XIV

Tranche	Size	Matures	Margin
Initial Term Loan	$145m	n/a	n/a
Delayed Draw Term Loans	$55m	n/a	n/a

Priced over Other (Term Loan B, Delayed draw term loan).

Level	Condition	Margin	Unused fee
Level Level 1	all times	n/a	n/a

§1.01

CovenantTestedHeadroomLimit now

Tested quarterly729.6%ratio 10.37x, estimated, vs 1.25x limit in force at Jun 30, 20261.25x

From Mar 31, 2028 · 1.30x
From Sep 30, 2028 · 1.35x
From Mar 31, 2029 · 1.40x

Fail to maintain, at any time following the Closing Date, as of the last day of any Fiscal Quarter of Holdings set forth below, an Interest Coverage Ratio equal to or greater than the ratio set forth opposite such Fiscal Quarter in the table immediately below:

Read the filing on sec.gov ↗

Tested quarterlyHeadroom not yet measured5.00x

From Mar 31, 2027 · 4.75x
From Jun 30, 2027 · 4.50x
From Dec 31, 2027 · 4.25x
From Jun 30, 2028 · 4.00x

Fail to maintain, at any time following the Closing Date, as of the last day of any Fiscal Quarter of Holdings set forth below, a Leverage Ratio that is equal to or less than the ratio set forth opposite such Fiscal Quarter in the table immediately below:

Read the filing on sec.gov ↗

Tested quarterlyHeadroom not yet measured$100m

Equity cure available.

Fail to maintain, at any time following the Closing Date, as of the end of any Fiscal Quarter of Holdings, Liquidity of Holdings and its Subsidiaries equal to or in excess of $100,000,000.00.

Read the filing on sec.gov ↗

Download CSV · Download JSON

Amendments

No amendments on file yet.

Report an error

Email [email protected].