---
schema_version: "secwatch.filing_event.v1"
accession: "0000318833-22-000110"
form_type: "8-K"
ticker: "TISI"
cik: "0000318833"
company_name: "TEAM INC"
filed_at: "2022-11-22T23:59:59+00:00"
generated_at: "2026-06-21T14:23:05.472307+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Team, Inc. extends unsecured term loan maturity to Dec 2027 and draw period to Mar 2023

## Summary
- Maturity extended from Dec 31, 2026 to Dec 31, 2027 under Amendment No. 11.
- Availability period for Feb 2022 Delayed Draw Term Loan extended to Mar 31, 2023 (from Dec 31, 2022).
- New tranche created for exchange of 5.00% Convertible Senior Notes due 2023; aggregate principal unchanged.
- No increase in total outstanding amount under the Subordinated Term Loan.
- Loan remains subordinate to Senior Credit Agreement per existing Subordination Agreement.

## SEC filing metadata
- accession: 0000318833-22-000110
- form_type: 8-K
- ticker: TISI
- cik: 0000318833
- company_name: TEAM INC
- filed_at: 2022-11-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318833/000031883322000110/0000318833-22-000110-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318833/000031883322000110/formamendmentno11tounsecur.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318833-22-000110
- JSON: https://secwatch.observer/filing/0000318833-22-000110.json
- Plain text: https://secwatch.observer/filing/0000318833-22-000110.txt

## Key facts
- Material Agreements
  TEAM INC amended Amendment No. 11 (the “Subordinated Term Loan Amendment No. 11”) with Cantor Fitzgerald Securities, as agent (effective 2022-11-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Cantor Fitzgerald Securities, as agent
  - Effective: 2022-11-21
  source text: On November 21, 2022, Team, Inc. (the “Company”) entered into Amendment No. 11 (the “Subordinated Term Loan Amendment No. 11”) to that certain Unsecured Term Loan Credit Agreement, dated as of November 9, 2021 (as amended on November 30, 2021, December 6, 2021, December 7, 2021, December 8, 2021, February 11, 2022, May 6, 2022, June 28, 2022, October 4, 2022, November 1, 2022, and November 4, 2022 and as further amended from time to time, the “Subordinated Term Loan Credit Agreement”), among the Company, as borrower, the lenders from time to time party thereto and Cantor Fitzgerald Securities, as agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/318833/000031883322000110/0000318833-22-000110-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.