J.Jill amends ABL credit facility; adds $500K inventory reserve when excess liability under $5M

J.Jill, Inc.

Amendment No. 7 removes requirement for non-negotiable bill of lading to conspicuously state agent's lien.
A $500,000 In Transit Inventory Reserve reduces the Borrowing Base during periods when Excess Liability is <$5.0M.
No other material changes were made to the ABL Credit Agreement terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

J.Jill, Inc. amended Amendment No. 7 (the "ABL Amendment") with CIT Finance LLC, as the Administrative Agent and collateral agent (effective 2023-12-01).

Action: amendment
Agreement: credit facility
Counterparty: CIT Finance LLC, as the Administrative Agent and collateral agent
Effective: 2023-12-01

Exact text from the filing

On December 1, 2023, J.Jill, Inc. (the “Company”) entered into Amendment No. 7 (the “ABL Amendment”) to the ABL Credit Agreement, by and among the Company, Jill Acquisition LLC, J.Jill Gift Card Solutions, Inc. (collectively, the “Borrowers”), the other guarantors party thereto from time to time, the other Lenders party thereto from time to time and CIT Finance LLC, as the Administrative Agent and collateral agent (the “ABL Credit Agreement”).

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Source: SEC EDGAR

accession 0001193125-23-290745

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