Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Cerence Inc. amended credit facility with Wells Fargo Bank, N.A., as administrative agent at SOFR plus 3.00% maturing April 1, 2026.
- Instrument
- credit facility
- Counterparty
- Wells Fargo Bank, N.A., as administrative agent
- Rate
- SOFR plus 3.00%
- Maturity
- April 1, 2026
- Event
- amendment
Exact text from the filing
Amendment No. 3 revised certain interest rates in the Credit Agreement. The applicable margin is SOFR plus 3.00% for SOFR loans and the highest of (i) the federal funds effective rate, (ii) the prime rate, and (iii) one-month SOFR plus 1.00% (the highest of clauses (i) through (iii), the “ABR”) plus 2.00% for ABR loans. Amendment No. 3 also modified the maturity date for the revolving facility. The revolving facility matures on April 1, 2026
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Cerence Inc. amended Amendment No. 3 to Credit Agreement with Wells Fargo Bank, N.A., as administrative agent (effective 2024-04-12).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, N.A., as administrative agent
- Effective
- 2024-04-12
Exact text from the filing
On April 12, 2024 (the “ Amendment No. 3 Effective Date ”), Cerence Inc. (the “ Borrower ” or the “ Company ”) entered into Amendment No. 3 to Credit Agreement (the “ Amendment ”), by and among the Borrower, the lenders and issuing banks party thereto and Wells Fargo Bank, N.A., as administrative agent (the “ Administrative Agent ”), which amends certain terms of the Credit Agreement, dated as of June 12, 2020
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