Calix, Inc. Enters into First Amendment to Loan and Security Agreement
January 06, 2021 at 04:02 pm
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On December 30, 2020, Calix, Inc. entered into the first amendment to loan and security agreement, which amended the loan and security agreement, dated as of January 27, 2020, by and among the company, the financial institutions party thereto from time to time as Lenders and Bank of America, N.A., as agent for the Lenders. The loan and security agreement provides for a revolving credit facility up to a principal amount of $35,000,000 (the secured revolving line of credit), including a $10,000,000 sublimit for letters of credit, with the option to increase the line of credit to up to $60,000,000 upon meeting certain conditions. The amendment revises the unused line fee applicable to the secured revolving line of credit to equal 0.25% per annum and makes certain other amendments to the covenants regarding the delivery of borrowing base reports and Agent’s right to conduct field examinations or request an appraisal.
Calix, Inc. is a global provider of a platform (cloud, software and systems) and managed services that focus on the subscriber-facing network, the portion of the network that governs available bandwidth and determines the range and quality of services that can be offered to subscribers. This platform and managed services enable broadband service providers (BSPs) of all sizes to innovate and transform their businesses. The Company's platform, which includes Calix Cloud, Calix Revenue EDGE and Calix Intelligent Access EDGE, gathers, analyzes, and applies machine learning to deliver real-time insights to each key business function. Calix Cloud comes in three role-base editions: Calix Marketing Cloud, Calix Support Cloud and Calix Operations Cloud. Calix Revenue EDGE offers premises solution for subscriber managed services. Calix Intelligent Access EDGE provides an access network solution for automated, intelligent networks.