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Revolving Credit Agreement

Signed Jul 2, 2026

Committed
n/a
Matures
Dec 2028
Agent
JPMorgan Chase Bank, N.A.
TrancheSizeMaturesMargin
Revolving credit facilityn/aDec 2028300–400 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level Level 1Borrowing Base Utilization Percentage < 25%300 bps50 bps
Level Level 2Borrowing Base Utilization Percentage ≥ 25% but < 50%325 bpsn/a
Level Level 3Borrowing Base Utilization Percentage ≥ 50% but < 75%350 bpsn/a
Level Level 4Borrowing Base Utilization Percentage ≥ 75% but < 90%375 bpsn/a
Level Level 5Borrowing Base Utilization Percentage ≥ 90%400 bpsn/a

§1.02

Tested quarterlyHeadroom not yet measured3.00x
The Borrower will not permit, as of the last day of any Rolling Period, commencing with the first Rolling Period ending after the Borrowing Base is first determined to be greater than $0.00, the Consolidated Total Leverage Ratio to exceed 3.00 to 1.00.
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Tested quarterlyHeadroom not yet measured1.00
The Borrower will not permit, as of the last day of any fiscal quarter, commencing with the first fiscal quarter ending after the Borrowing Base is first determined to be greater than $0.00, the ratio of (i) Consolidated Current Assets as of such date to (ii) Consolidated Current Liabilities as of such date to be less than 1.00 to 1.00.
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Tested annualHeadroom not yet measured90,000,000
The Borrower shall not permit the General and Administrative Costs for fiscal years 2027 and 2028 to exceed the General and Administrative Costs Cap.
Read the filing on sec.gov ↗

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