Trimble Inc.
10/10/2024 | Press release | Distributed by Public on 10/10/2024 15:13
Material Agreement Form 8 K
Item 1.01. Entry into a Material Definitive Agreement.
As previously disclosed on a Current Report on Form 8-K filed by Trimble Inc. (the "Company") on May 22, 2024, the Company obtained a Consent and Waiver (the "First Consent and Waiver") relating to the Credit Agreement, dated as of March 24, 2022, as amended (the "Credit Agreement"). Under the First Consent and Waiver, the Lenders party to the Credit Agreement and the Administrative Agent agreed to extend the Company's deadline to deliver the Financial Deliverables (the "Financial Reporting Deadline") to August 12, 2024 for the fiscal quarter ending March 29, 2024 and to waive any Default or Event of Default resulting solely from the non-delivery of the Financial Deliverables with respect to the fiscal quarter ending March 29, 2024 on or prior to the original deadline set forth in the Credit Agreement (where capitalized terms, if not defined herein, are as defined in the Credit Agreement).
As previously disclosed on a Current Report on Form 8-K filed by the Company on July 29, 2024, the Company obtained a second Consent and Waiver (the "Second Consent and Waiver") relating to the Credit Agreement. Under the Second Consent and Waiver, the Lenders and the Administrative Agent agreed to extend the Financial Reporting Deadline to October 11, 2024 for the fiscal quarters ending March 29, 2024 and June 28, 2024 and to waive any Default or Event of Default resulting solely from the non-delivery of the Financial Deliverables with respect to the fiscal quarters ending March 29, 2024 and June 28, 2024 on or prior to the original deadline set forth in the Credit Agreement. In addition, the Lenders and the Administrative Agent agreed to extend the Company's deadline to deliver the Sustainability Pricing Certificate to August 27, 2024 for the calendar year ending December 31, 2023.
On October 9, 2024, the Company obtained a third Consent and Waiver (the "Third Consent and Waiver") relating to the Credit Agreement. Under the Third Consent and Waiver, the Lenders and the Administrative Agent agreed to extend the Financial Reporting Deadline to December 10, 2024 for the fiscal quarters ending March 29, 2024, June 28, 2024 and September 27, 2024 and to waive any Default or Event of Default resulting solely from the non-delivery of the Financial Deliverables with respect to the fiscal quarters ending March 29, 2024, June 28, 2024 and September 27, 2024 on or prior to the original deadline set forth in the Credit Agreement.
The foregoing description of the Third Consent and Waiver does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Consent and Waiver, a copy of which is attached hereto as Exhibit 10.1.
The previously disclosed assessment of the impacts related to the Company's internal controls over financial reporting by management and Ernst & Young LLP ("EY"), the Company's independent registered public accounting firm, is progressing. As of today, all parties continue to work diligently to complete the assessment and to file the Company's Quarterly Reports on Form 10-Q for the fiscal quarters ending March 29, 2024, June 28, 2024 and September 27, 2024 as soon as practicable.