Item 1.01. Entry into a Material Definitive Agreement
The Credit Facility provides for borrowings in an aggregate principal amount of up to
The Credit Facility will be priced at
Borrowings under the Credit Facility are subject to compliance with a borrowing base. The Credit Facility may be prepaid in whole or in part, subject to a prepayment fee.
The Credit Facility contains customary default provisions including, but not limited to, non-payment of principal, interest or other obligations under the Credit Facility, insolvency, defaults of certain financial covenants and other events with respect to the Company that may be adverse to Deutsche Bank and the secured parties under the Credit Facility.
In connection with the Credit Facility, Funding Sub has made certain representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. Upon the occurrence and during the continuation of an event of default, subject, in certain instances, to applicable cure periods, Deutsche Bank may declare the outstanding advances and all other obligations under the Credit Facility immediately due and payable. During the continuation of an event of default, Funding Sub must pay interest at a default rate.
Borrowings of the Funding Sub will be considered borrowings of the Company for purposes of complying with the asset coverage requirements under the Investment Company Act of 1940, as amended, applicable to business development companies.
The Company will file the material agreements relating to the Credit Facility with the
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1 Press Release dated
February 27, 2014