Rimini Street amends credit agreement to replace LIBOR with SOFR, adds $10M litigation cost addback for Oracle case

Rimini Street, Inc.

Amendment No. 4 to Credit Agreement replaces LIBOR with SOFR as reference rate, effective Feb 28, 2023.
Consolidated EBITDA definition amended to allow addback of up to $10M in Oracle litigation costs for Q4 2022 and any period including that quarter.
Incremental borrowings available increased to $40M, $5M higher than original agreement.
Applicable margin unchanged: Adjusted Term SOFR + 1.75%-2.50% or Base Rate + 0.75%-1.50%, based on leverage ratio.

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

Rimini Street, Inc. amended Amendment No. 4 with Capital One, National Association, as a lender and administrative agent (effective 2023-02-22).

Action: amendment
Agreement: credit facility
Counterparty: Capital One, National Association, as a lender and administrative agent
Effective: 2023-02-22

Exact text from the filing

On February 22, 2023, Rimini Street, Inc. (the “ Company ”) entered into Amendment No. 4 (the “ Amendment ”) to that certain Credit Agreement dated as of July 2, 2021, as amended by Amendment No. 1 thereto dated July 20, 2021, Amendment No. 2 thereto dated January 14, 2022, and Amendment No. 3 thereto dated May 31, 2022 (as amended, restated, modified or supplemented from time to time, the “ Credit Agreement ”), among, inter alia , the Company, as borrower, certain subsidiaries of the Company as guarantors, the lenders party thereto and Capital One, National Association, as a lender and administrative agent.

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Source: SEC EDGAR

accession 0001635282-23-000026

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