LendingTree, Inc. (NASDAQ:TREE) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On June 24, 2019, LendingTree, LLC, a wholly-owned subsidiary of LendingTree, Inc. (the “Company”), entered into an amendment (the “Amendment”) to its Amended and Restated Credit Agreement dated as of November 21, 2017, by and among LendingTree, LLC, the lenders party thereto, and SunTrust Bank, as administrative agent (the “Credit Agreement”). The Amendment amends Section 8.1(l) of the Credit Agreement to provide that any judgment or order for the payment of money in the aggregate in excess of the Threshold Amount (as defined in the Credit Agreement) but less than $74.8 million (plus any additional pre-judgment interest) with respect to the case originally >
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure in Item 1.01 above is incorporated herein by reference.
Item 8.01. Other Events.
On June 21, 2019, the court in ResCap Liquidating Trust v. Home Loan Center, Inc., Case No. 14-cv-1716 (U.S. Dist. Ct., Minn.), the successor to Residential Funding Company, LLC v Home Loan Center, Inc., No. 13-cv-3451 (U.S. Dist. Ct., Minn.), entered judgment against HLC in the amount of $68.5 million. The court’s entry of judgment follows, and is inclusive of, the previously-disclosed jury verdict amount of $28.7 million, the court’s previously-disclosed determination that the plaintiff is entitled to pre-verdict interest in the amount of $14.1 million, and the court’s determination that the plaintiff is entitled to recovery of $23.1 million in attorneys and costs.The judgment also reflects post-verdict, pre-judgment interest of $2.6 million. As discussed in the Company’s quarterly report on Form 10-Q filed with the SEC on April 29, 2019, HLC believes it has strong grounds for an appeal and HLC intends to vigorously pursue an appeal.
Item 9.01. Financial Statement and Exhibits.
LendingTree, Inc. Exhibit
EX-10.1 2 ex101-firstamendmenttocred.htm EXHIBIT 10.1 Exhibit Exhibit 10.1FIRST AMENDMENT TO CREDIT AGREEMENTTHIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Agreement”) is made and entered into as of June 24,…
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About LendingTree, Inc. (NASDAQ:TREE)
LendingTree, Inc. (LendingTree), formerly Tree.com, Inc., is engaged in operating an online loan marketplace for consumers. The Company offers a range of loan types and other credit-based offerings for its consumers. The Company operates through Lending activities segment. The Company’s online marketplace provides consumers with access to product offerings from various lenders, which it refers to as Network Lenders, including mortgage loans, home equity, reverse mortgage, auto loans, credit cards, personal loans, student loans and small business loans, and other related offerings. It offers tools and resources, including free credit scores that facilitate comparison shopping for these loans and other credit-based offerings. It offers its products in categories, including mortgage products and non-mortgage products. Its mortgage products category includes its purchase and refinance products. The Company’s non-mortgage products include lending products and other products.
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