Lincoln Educational amends credit agreement, clarifies covenants and events of default

LINCOLN EDUCATIONAL SERVICES CORP

Amended $40M revolving credit facility with Fifth Third Bank; effective June 28, 2024.
Removed Financial Responsibility Composite Ratio covenant; added default trigger for 33% quarterly revenue decline.
Added reporting requirement for revenue-impact events within 5 business days.
Original facility maturity Feb 16, 2027 unchanged; no change in size or pricing.
Amendments also clarify representations, conditions to advances, and reaffirm liens.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.