Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Yext, Inc. amended Amendment No. 2 with Silicon Valley Bank, as administrative agent (effective 2022-12-22).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Silicon Valley Bank, as administrative agent
- Effective
- 2022-12-22
Exact text from the filing
On December 22, 2022, Yext, Inc. (the “Company”) entered into a second amendment (“Amendment No. 2”) to that certain Credit Agreement, dated March 11, 2020, by and among the Company, as borrower, Yext Holdings, LLC, as guarantor, the lenders from time to time party thereto, and Silicon Valley Bank, as administrative agent, collateral agent, issuing lender and swingline lender (as amended by that certain First Amendment to Credit Agreement and Guarantee and Collateral Agreement dated as of January 29, 2021, the “Credit Facility”). Amendment No. 2 amends the Credit Facility to, among other things (i) extend the maturity date of the Credit Facility to December 22, 2025, (ii) amend the interest rate provisions to replace LIBOR with SOFR as the interest rate benchmark, (iii) amend the recurring revenue growth rate financial covenant, and (iv) make certain other revisions as more fully set forth therein.
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