Item 1.01. Entry into a Material Definitive Agreement
On May 12, 2014, Twin Cities Power Holdings, LLC (the "Company") entered into a
banking relationship with Royal Bank of Canada ("RBC"), through its RBC Wealth
Management Banking segment, wherein RBC has agreed to provide the Company with
an uncommitted line of credit collateralized by the Company's investment account
in the amount of $700,000 (the "Facility"). The interest rate on the Facility is
2.40%, and availability of funds may be increased or decreased by RBC in its
sole and absolute discretion. RBC is not committed or otherwise obligated to
make any extensions of credit under the Facility, and repayment of principal
under the Facility may subject the Company to break funding costs.
The foregoing description of the Facility is qualified in its entirety by
reference to the full text of the Facility, which is attached to this Current
Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
The information set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
10.1 Loan Confirmation from Royal Bank of Canada to Twin Cities PowerHoldings, LLC, dated May 12, 2014, and related correspondence.