Array Digital Infrastructure Inc.
12/12/2025 | Press release | Distributed by Public on 12/12/2025 07:54
Material Agreement (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement
On December 8, 2025 (the "Effective Date"), Array Digital Infrastructure, Inc. ("Array") entered into the Fifth Amendment (the "Amendment") to First Amended and Restated Credit Agreement among Array, Toronto Dominion (Texas) LLC, as administrative agent, and the other lenders thereto (the "Credit Agreement").
The Amendment amends the Credit Agreement in pertinent part as follows:
•Array's borrowing capacity is reduced from $300 million to $100 million (with a parallel reduction to its letter of credit capacity from $30 million to $10 million and to its swing line capacity from $25 million to $10 million);
•The maturity date is extended to the fifth anniversary of the Effective Date;
•The credit spread adjustment previously applicable to the Term SOFR interest rate (i.e., 10 basis points for a one-month interest period, 15 basis points for a three-month interest period and 25 basis points for a six-month interest period) is removed;
•The maximum permitted cash netting for the calculation of the consolidated leverage ratio is an amount equal to consolidated EBITDA for the immediately preceding four fiscal quarter period (calculated as of any applicable date of determination); and
•The capacity for secured debt at Array, and secured and unsecured debt at Array's subsidiaries, together with additional secured debt at Telephone and Data Systems, Inc. ("TDS") as parent of Array, and secured and unsecured debt at TDS's other subsidiaries, is increased by an aggregate amount of $300 million.
The foregoing description is qualified by reference to the copy of the Amendment which is incorporated by reference herein as Exhibit 4.1.
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