MERCURY GENERAL CORPORATION (NASDAQ:MCY) Files An 8-K Entry into a Material Definitive Agreement
Item1.01. Entry into a Material Definitive Agreement
On December28, 2016, Mercury General Corporation and Mercury
Casualty Company entered into a Fifth Amendment Agreement (the
Fifth Amendment) with Bank of America, N.A., as administrative
agent, and the other lenders party thereto, which amends the
existing Credit Agreement (the 2009 Credit Agreement) by and
among the parties, dated as of January2, 2009 (as amended to
date). The Fifth Amendment, among other things, extends the
maturity date of the loan that is the subject of the 2009 Credit
Agreement to December3, 2018, incorporates provisions related to
European Union bail-in laws and includes in the definition of
Change of Control the removal of board members in response to
actual or threatened hostile action. The foregoing description of
the Fifth Amendment does not purport to be complete and is
qualified in its entirety by reference to the Fifth Amendment, a
copy of which is filed as Exhibit 10.1 to this Current Report on
Form 8-K and is incorporated herein by this reference.
Item2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of
Registrant
The information set forth in Item1.01 of this Current Report on
Form 8-K is incorporated into this Item2.03 by reference.
Item9.01. Financial Statements and Exhibits
(d) |
Exhibits. |
10.1 |
Fifth Amendment Agreement among Mercury Casualty Corporation, Mercury General Corporation, Bank of America, N.A., as administrative agent, and the other lenders party thereto |
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