Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
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 $20.0 millio…
Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 1.01Item 1.01 - Entry into Material Agreement
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 $20.0 million principal amount for borrowing.
On August 28, 2026, the Company and Northern Trust entered into the either amendment to the Loan Agreement (the “Eighth Modification Agreement”) to further amend the terms and conditions set forth in the Loan Agreement to, among other things, (i) extend the scheduled maturity date from May 18, 2028 to August 30, 2028 and (ii) increase the maximum principal amount available for borrowing under the revolving line of credit from $20.0 million to $30.0 million; provided, however, that if the Company (or any of its affiliates or subsidiaries) completes any capital market activity after the date of the Eighth Modification Agreement, including raising funds from either an equity or debt offering, then the maximum principal amount available for borrowing under the revolving line of credit will be $25.0 million.
The foregoing description of the Eighth 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 2.03Item 2.03 - Creation of Direct Financial Obligation
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.