CREDIT AGREEMENT

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

Date not stated

Committed: $400m
Matures: Jun 2031
Agent: CoBank, ACB

Tranche	Size	Matures	Margin
Delayed draw term loan	$400m	Jun 2031	163–200 bps

Priced over Term SOFR, floor 0 bps (Delayed draw term loan).

Level	Condition	Margin	Unused fee
Level I	Less than 1.50 to 1.00	163 bps	n/a
Level II	Greater than or equal to 1.50 to 1.00 but less than 2.00 to 1.00	163 bps	n/a
Level III	Greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00	163 bps	n/a
Level IV	Greater than or equal to 2.50 to 1.00 but less than 3.00 to 1.00	175 bps	n/a
Level V	Greater than or equal to 3.00 to 1.00	200 bps	n/a

§1.1

Lenders: CoBank, ACB, Compeer Financial, PCA

CovenantTestedHeadroomLimit now

Tested quarterly30.6%ratio 2.43x, estimated, vs 3.50x limit in force at Jun 30, 20263.50x

The Company will not permit the Leverage Ratio, determined as of the last day of each fiscal quarter of the Company, to be greater than 3.50 to 1.00

Read the filing on sec.gov ↗

Tested quarterly225.0%ratio 9.75x, estimated, vs 3.00x limit in force at Jun 30, 20263.00x

The Company will not permit the Interest Coverage Ratio, determined as at the last day of each fiscal quarter of the Company, to be less than 3.00 to 1.00.

Read the filing on sec.gov ↗

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