Hilton Grand Vacations Inc. (NYSE:HGV) Files An 8-K Entry into a Material Definitive AgreementItem 9.01 Entry into a Material Definitive Agreement.
On March 9, 2018, Hilton Grand Vacations Trust I LLC (the “Trust”) and Hilton Resorts Corporation (“HRC”), each a subsidiary of Hilton Grand Vacations Inc., entered into Omnibus Amendment No. 8 (the“Amendment”) to the Receivables Loan Agreement, dated as of May 9, 2013 by and among theTrust, as borrower, HRC, as seller, Wells Fargo Bank, National Association, as paying agent and securities intermediary, thefinancial institutions signatory thereto as conduit lenders, thefinancial institutions signatory thereto as committed lenders, thefinancial institutions signatory thereto as managing agents, and Deutsche Bank Securities, Inc., as administrative agent and structuring agent (the“Warehouse Credit Facility”). The Amendment, among other things, extends revolving period for the Warehouse Credit Facility for an additional two years, to March9,2020.
The description of the Amendment above is qualified in its entirety by reference to the full text of such document, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
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ExhibitNo. |
Description |
| Exhibit10.1 | Omnibus Amendment No. 8 to Receivables Loan Agreement and Amendment No. 3 to Sale and Contribution Agreement Receivables Loan Agreement, effective as of March 9, 2018 by and among Hilton Grand Vacations Trust I LLC, as borrower, Hilton Resorts Corporation, as seller, Wells Fargo Bank, National Association, as paying agent and securities intermediary, thefinancial institutions signatory hereto as managing agents, thefinancial institutions signatory hereto as conduit lenders, thefinancial institutions signatory hereto as committed lenders, and Deutsche Bank Securities, Inc., as administrative agent. |
Hilton Grand Vacations Inc. ExhibitEX-10.1 2 d505710dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 EXECUTION COPY OMNIBUS AMENDMENT NO. 8 TO RECEIVABLES LOAN AGREEMENT AMENDMENT NO. 3 TO SALE AND CONTRIBUTION AGREEMENT This OMNIBUS AMENDMENT NO. 8 TO RECEIVABLES LOAN AGREEMENT AND AMENDMENT NO. 3 TO SALE AND CONTRIBUTION AGREEMENT,…To view the full exhibit click here
About Hilton Grand Vacations Inc. (NYSE:HGV)
Hilton Grand Vacations Inc. is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management. As of September 30, 2016, the Company had 46 resorts, representing 7,592 units, and approximately 265,000 Hilton Grand Vacations Club (the Club) members. Club members can exchange their Club points for stays at any resort or any property in the Hilton system of various brands across over 4,700 properties, as well as various vacation options, such as cruises and guided tours. VOI product allows customers to purchase a lifetime of vacations. The Company offers amenities, such as full kitchens, in-unit washers and dryers, spas and kids’ clubs along with beach-front locations. Hilton Grand Vacations Inc. (NYSE:HGV) Recent Trading Information
Hilton Grand Vacations Inc. (NYSE:HGV) closed its last trading session up +0.26 at 46.33 with shares trading hands.