Item 1.01. Entry into a Material Definitive Agreement.
Fourth Amendment to Third Amended and Restated Credit and Security Agreement
The Amendment, among other things, made the following modifications to the Credit Facility:
All references to "LIBOR Rate" in the Credit Agreement and the Other Documents
were replaced with references to "BSBY Rate", which is defined in the Amendment
as the rate per annum equal to the greater of (a) the product obtained by
? multiplying (i) the BSBY Screen Rate (which publishes the Bloomberg Short-Term
Bank Yield Index) determined on the first day of the interest period with a
term equivalent to such interest period by (ii) the Statutory Reserve Rate, and
(b) 0.00% per annum;
? All references to "LIBOR Rate Loan" in the Credit Agreement and the Other
Documents were replaced with references to "BSBY Rate Loan"; and
? All references to "Domestic Rate Loan" in the Credit Agreement and the Other
Documents were replaced with references to "ABR Loan".
Capitalized terms used in the Current Report on Form 8-K and not otherwise defined herein shall have the respective meanings ascribed to them in the Amendment. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
10.1 Fourth Amendment to the Third Amended and Restated Credit and Security Agreement, dated as ofJune 13, 2023 , by and amongPC Connection, Inc. , as Borrower,GovConnection, Inc. ,PC Connection Sales Corporation ,MoreDirect, Inc. andGlobalServe, Inc. , as Guarantors, andCitizens Bank, N.A. , as Lender and Agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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