RUBY TUESDAY, INC. (NYSE:RT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Credit Facility Amendment No. 2
On November 13, 2017, Ruby Tuesday, Inc. (the “Company”) entered into a second amendment (the “Amendment No. 2”) relating to its previously-disclosed 364-day senior secured revolving credit agreement dated as of May 26, 2017 (as amended, supplemented or otherwise modified from time to time, the “Credit Facility”) with, among other parties, UBS AG, Stamford Branch, as administrative agent and as issuing bank. The description of the Credit Facility set forth under Item 1.01 in the Company’s Current Report on Form 8-K dated May 26, 2017 is incorporated by reference herein.
Among other things, Amendment No. 2 clarifies the definition of “Indebtedness,” and permits liens on deposit accounts and related assets, each relating to the establishment or maintenance of depository relations with banks or cash management services.
Amendment No. 2 is effective as of November 13, 2017. As of November 13, 2017, the Company has no amounts drawn under the revolving loan commitment under the Credit Facility, and has $11.9 million drawn under standby letters of credit under the Credit Facility.
A copy of Amendment No. 2 is attached as Exhibit 1.1 to this report and is incorporated herein by reference. The foregoing description of Amendment No. 2 is a summary only, and is qualified in its entirety by reference to the complete text of Amendment No. 2.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.
| Item 9.01 | financial statements and exhibits |
(d) Exhibits.
RUBY TUESDAY INC ExhibitEX-1.1 2 dp82970_ex0101.htm EXHIBIT 1.1 EXHIBIT 1.1 AMENDMENT NO. 2 Amendment No. 2 dated as of November 13,…To view the full exhibit click here
About RUBY TUESDAY, INC. (NYSE:RT)
Ruby Tuesday, Inc. owns and operates Ruby Tuesday casual dining and Lime Fresh Mexican Grill (Lime Fresh) casual restaurants. The Company also franchises the Ruby Tuesday concept in selected domestic and international markets, and the Lime Fresh concept in selected domestic markets. Its segments include Ruby Tuesday concept and Lime Fresh concept. As of March 1, 2016, the Company operated 729 Ruby Tuesday restaurants in 44 states, 13 foreign countries, and Guam, and there were 16 Lime Fresh restaurants in two states. Of those restaurants, it owned and operated approximately 649 Ruby Tuesday restaurants and franchised over 80 Ruby Tuesday restaurants, which consisted of 28 domestic and 52 international restaurants. It also owned and operated over eight Lime Fresh restaurants and franchised eight Lime Fresh domestic restaurants. The Company’s corporate-owned and operated restaurants are concentrated primarily in the Southeast, Northeast, Mid-Atlantic and Midwest of the United States.