Item 1.01 Entry into Material Definitive Agreement.
On
The A&R Credit Agreement provides for a revolving credit facility in the
aggregate principal amount of
The amendments to the 2015 Credit Agreement contained in the A&R Credit
Agreement, include, inter alia, (i) a modification to the margin above the
relevant London Interbank Offered Rate or Base Rate as applicable, of between
2.00% and 2.75% and 1.00% and 1.75%, respectively, (ii) an extension of the date
on which each of the Loans matures from
At the closing of the Credit Agreement, no amounts were drawn under the
Revolving Loan, approximately
SEA-Vista's obligations under the A&R Credit Agreement continue to be secured
pursuant to a Guaranty and Collateral Agreement, as amended, confirmed and
ratified by the parties thereto on
SEA-Vista and the wholly-owned subsidiaries of SEA-Vista that are parties to the A&R GCA secured all obligations under the A&R Credit Agreement, subject to certain exceptions, by a pledge of substantially all of their tangible and intangible assets pursuant to the terms of the A&R GCA. SEACOR and its subsidiaries (other than SEA-Vista and its applicable subsidiaries) are not parties to or obligors under the A&R Credit Agreement, A&R GCA or any other security documents.
The A&R Credit Agreement and related security documents contain customary representations, warranties, events of default and covenants for loans of this type. Upon the occurrence of certain events of default, the lenders have the right to accelerate the repayment of all amounts outstanding under the A&R Credit Agreement.
The descriptions of the A&R Credit Agreement and the A&R GCA do not purport to
be a complete statement of the parties' rights under such agreement and is
qualified in its entirety by reference to the full text of the A&R Credit
Agreement and the A&R GCA, which will be filed with the
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In the ordinary course of their respective businesses, one or more of the agents or lenders, or their affiliates, have and may have in the future various relationships with SEA-Vista, SEACOR and their affiliates involving the provision of a variety of financial services, including cash management, commercial banking, investment banking, securities underwriting, advisory or other financial services, for which they received, or will receive, customary fees and reimbursement of expenses.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an-Off-Balance Sheet Arrangement of Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 7.01 Regulation FD.
On
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description Press Release ofSEACOR Holdings Inc. , datedJanuary 9 , 99.1 2020 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).*
* Submitted electronically with this Report in accordance with the provisions of Regulation S-T.
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