Global Water Resources Inc.
04/16/2025 | Press release | Distributed by Public on 04/16/2025 04:01
Material Agreement, Financial Obligation (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 April 14, 2025, the Company and Northern Trust entered into the sixth amendment to the Loan Agreement (the "Sixth Modification Agreement")to further amend the terms and conditions set forth in the amended Loan Agreement to, among other things, (i) extend the scheduled maturity date from July 1, 2026 to May 18, 2027 and (ii) increase the maximum principal amount available for borrowing under the revolving line of credit from $15.0 million to $20.0 million. The Sixth Modification Agreement contains customary representations, warranties and covenants consistent with the Loan Agreement.
The foregoing description of the Sixth 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.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information required by this Item 2.03 is included in Item 1.01 of this Current Report on Form 8-K and is incorporated by reference herein.
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