REIS, INC. (NASDAQ:REIS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
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Entry into a Material Definitive Agreement.
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guarantor, and its wholly owned subsidiary, Reis Services,
LLC (Reis Services), as borrower, entered into a Second
Amendment (the Second Amendment) to the Amended and Restated
Loan and Security Agreement, dated as of January 28, 2016, by
and among Reis Services, LLC, as Borrower, Reis, Inc., as
Guarantor, and Capital One, National Association, as lender
(the Lender).
Amended and Restated Loan and Security Agreement, including
the addition of a Debt Service Coverage Ratio for the fiscal
quarters ending during the period commencing on December 31,
2016 through and including March 31, 2018 in place of the
Fixed Charge Coverage Ratio, and a minimum liquidity
requirement of $10,000,000 of average collected balances in
non-interest bearing demand deposit accounts with the Lender
from December 8, 2016 through March 31, 2018, as well as
other minor reporting changes.
Second Amendment and not a complete description of the Second
Amendment. Accordingly, the foregoing is qualified in its
entirety by reference to the Second Amendment, attached
hereto as Exhibit 10.1, and incorporated herein by reference.
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Item 2.03
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Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
Amendment contained in Item 1.01 above are hereby
incorporated into this Item 2.03 by reference.
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Item 9.01
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Financial Statements and Exhibits.
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| (d) Exhibits |
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10.1
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Second Amendment, dated as of December 8, 2016, to the
Amended and Restated Revolving Loan and Security Agreement by and among Reis Services, LLC, as Borrower, Reis, Inc., as Guarantor, and Capital One, National Association, as Lender. |
About REIS, INC. (NASDAQ:REIS)
Reis, Inc. (Reis) is engaged in providing commercial real estate market information and analytical tools to real estate professionals, through its Reis Services subsidiary. The Company operates through Reis Services segment. It maintains a database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the United States. The database contains information on apartment, office, retail, warehouse or distribution, flex or research and development, self-storage and seniors housing properties, and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. Its product portfolio includes Reis Subscriber Edition (SE), its delivery platform aimed at larger and mid-sized enterprises; ReisReports, aimed at prosumers and smaller enterprises, and Mobiuss Portfolio CRE (Mobiuss), aimed at risk managers and credit administrators at banks and non-bank lending institutions. REIS, INC. (NASDAQ:REIS) Recent Trading Information
REIS, INC. (NASDAQ:REIS) closed its last trading session up +0.10 at 23.00 with 19,915 shares trading hands.
