As of November 24, 2021, AAON, INC., AAON COIL PRODUCTS, INC., and BASX, INC. have entered into an Amended and Restated Loan Agreement with the Lenders, represented by BOKF, NA dba BANK OF OKLAHOMA, as the Administrative Agent. This agreement amends and restates the Existing Loan Agreement dated as of July 26, 2021.
Under the new agreement, the Borrowers are subject to various covenants and representations. These include affirmative covenants such as providing financial statements, maintaining insurance, and compliance with laws, as well as negative covenants related to permitted liens, indebtedness, investments, and transactions with affiliates and insiders.
The agreement also outlines the conditions for all credit extensions, events of default, and the rights and authority of the Administrative Agent. Additionally, it covers miscellaneous provisions such as notices, waivers, amendments, expenses, successors and assigns, governing law, and jurisdiction.
The terms of the agreement are defined in detail, and various documents and forms, including Borrower Compliance Certificate, Assignment and Assumption, U.S. Tax Compliance Certificate, Borrowing Request, and Subsidiary Joinder Agreement, are included as exhibits.
The agreement provides a comprehensive framework for the financial relationship between the Borrowers and the Lenders, with specific requirements and obligations outlined for both parties. Today the company's shares have moved -4.7% to a price of $122.57. For the full picture, make sure to review AAON's 8-K report.
