Syntel, Inc. (NASDAQ:SYNT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.
On June7, 2018, Syntel, Inc. (the “Company”) entered into a Third Amendment (the “Amendment”) to the credit agreement dated September12, 2016 (the “Credit Agreement”) with Bank of America, N.A. as administrative agent L/C issuer and swing line lender, and the other lenders party thereto. Capitalized terms used but not defined herein have the meanings ascribed to them in the Amendment or the Credit Agreement, as applicable.
The Amendment modifies the Credit Agreement to (1)decrease the Aggregate Revolving Commitments of the Lenders from $200,000,000 to $25,000,000, (2) add language to provide for a method for the Administrative Agent and the Borrower to amend the Credit Agreement to replace the LIBOR Rate with an alternate benchmark rate if the LIBOR Rate is no longer available or published on a current basis, and (3)add language regarding the Lenders’ use of ERISA plan assets to fund the Loans, the Letters of Credit or the Commitments. The Amendment contains customary representations and warranties applicable to the Company.
The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. The Second Amendment to the Credit Agreement is attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July20, 2017. The First Amendment to the Credit Agreement is attached as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended on September30, 2016. The Credit Agreement is attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on September12, 2016.
Item 1.01. Financial Statements and Exhibits.
(d) Exhibits.
SYNTEL INC ExhibitEX-10.1 2 d605228dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 THIRD AMENDMENT TO CREDIT AGREEMENT THIS THIRD AMENDMENT TO CREDIT AGREEMENT dated as of June 7,…To view the full exhibit click here
About Syntel, Inc. (NASDAQ:SYNT)
Syntel, Inc. (Syntel) is a global provider of digital transformation, information technology and knowledge process outsourcing services. The Company operates through five segments: Banking and Financial Services, which serves financial institutions around the world; Healthcare and Life Sciences, which serve various companies, including healthcare payers, providers, and pharmaceutical and medical device providers; Insurance, which serve the needs of property and casualty insurers, insurance brokers, personal, commercial, life and retirement insurance service providers; Manufacturing, which provides business consulting and technology services for industrial and automotive clients, and Retail, Logistics and Telecom, which serves a range of retailers and distributors, logistics clients and clients in the telecom industry. The Company offers its products and services under the Syntel brand.