Global Water Resources Inc.
07/03/2024 | Press release | Distributed by Public on 07/03/2024 12:43
Material Agreement Form 8 K
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed, on April 30, 2020, Global Water Resources, Inc. (the "Company") entered into an agreement (as subsequently amended, the "Loan Agreement") with The Northern Trust Company, an Illinois banking corporation ("Northern Trust"), for a revolving line of credit that currently provides the Company up to a maximum of $15.0 million principal amount for borrowing.
On July 1, 2024, the Company and Northern Trust entered into the fifth amendment to the Loan Agreement (the "Fifth Modification Agreement")to further amend the terms and conditions set forth in the amended Loan Agreement to, among other things, extend the scheduled maturity date from July 1, 2025 to July 1, 2026. The Fifth Modification Agreement contains customary representations, warranties and covenants consistent with the Loan Agreement.
The foregoing description of the Fifth Modification Agreement is only a summary and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.