secwatch.observer — SEC 8-K summary
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Issuer:     Information Services Group Inc. (III)
CIK:        0001371489
Form:       8-K
Filed at:   2022-06-06T23:59:59+00:00
Accession:  0001104659-22-068551
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ISG amends credit facility to allow $5M EBITDA add-back for severance and lease costs
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- Add-backs for severance and one-time lease/contract termination costs capped at $5M aggregate through maturity date.
- Definition of Consolidated EBITDA amended to include these add-backs; documentation must be provided to Administrative Agent.
- Mandatory prepayment clause for Reinvestment (Section 2.05(b)(i)) intentionally omitted from Credit Agreement.
- Revolving facility reduction minimum set at $1,000,000; prepayment application revised.
- Administrative updates added for electronic signatures, erroneous payment recovery, and reliance on communications.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1371489/000110465922068551/0001104659-22-068551-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1371489/000110465922068551/tm2217784d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-068551

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