Universal Corporation filed SEC Form 8-K: Events That Accelerate or Increase a Direct Financial Obligation
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| Item 2.04 | Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement. |
Universal Corporation (the “Company”) previously disclosed in a Current Report on Form 8-K (the “Form 8-K”) that was filed with the Securities and Exchange Commission on November 12, 2024, that it entered into a Consent with respect to that certain Credit Agreement, dated December 15, 2022, among the Company, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Credit Agreement”). Under the Credit Agreement the Company covenants to deliver its quarterly financial statements within 45 days following quarter end (the “Quarterly Financials Covenant”). The Consent provided for among other things, an extension until December 31, 2024 for delivery by the Company of the Second Quarter 2025 Financials (as defined in the Form 8-K).
Effective December 23, 2024, the Company entered into a further Consent (“Updated Consent”) with respect to the Credit Agreement that provides for, among other things, an extension until February 14, 2025, for delivery by the Company of the Second Quarter 2025 Financials. In connection with the Updated Consent, the Company paid to each of the lenders who executed such Updated Consent a consent fee in an amount equal to 0.05% of the sum of (x) such lender’s Commitment (as defined in the Credit Agreement) and (y) the aggregate principal amount of such lender’s outstanding Term Loans (as defined in the Credit Agreement), in each case on December 20, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNIVERSAL CORPORATION | ||
| Date: December 26, 2024 | By: | /s/ Catherine H. Claiborne |
| Catherine H. Claiborne | ||
| Vice President, General Counsel, and Secretary | ||