TEXAS ROADHOUSE,INC. (NASDAQ:TXRH) Files An 8-K Entry into a Material Definitive Agreement

TEXAS ROADHOUSE,INC. (NASDAQ:TXRH) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

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On August7, 2017, we entered into that certain Amended and Restated Credit Agreement (the “Amended Credit Agreement”) with respect to our revolving credit facility with a syndicate of commercial lenders led by JPMorgan Chase Bank, N.A., PNC Bank, National Association and Wells Fargo Bank, National Association. The Amended Credit Agreement is a five-year unsecured, revolving credit agreement under which we can borrow up to $200.0 million with the option to increase the credit facility by an additional $200.0 million (subject to certain limitations set forth in the Amended Credit Agreement). The Amended Credit Agreement amends and restates our prior credit facility agreement dated August12, 2011, which was amended by that certain Omnibus Amendment No.1 and Consent to Credit Agreement and Guaranty dated November1, 2013. The Amended Credit Agreement also extends the maturity date of our credit facility until August5, 2022. The existing indebtedness in the amount of $50.0 million under the prior credit facility will continue under the Amended Credit Agreement.

Under the Amended Credit Agreement, we are required to pay interest on outstanding borrowing at LIBOR plus 0.875% to 1.875% and to pay a commitment fee of 0.125% to 0.300% per year for any unused portion of the credit facility, in each case depending on our leverage ratio. The Amended Credit Agreement imposes the financial covenants of maintaining a fixed charge coverage ratio of 2.00 to 1.00 and a maximum leverage ratio of 3.00 to 1.00. The lenders’ obligations to extend credit under the Amended Credit Agreement will depend upon our compliance with these covenants.

Fees and expenses incurred in connection with the Amended Credit Agreement were paid from cash on hand.

The Obligations to the Amended Credit Agreement can be accelerated upon an Event of Default, as such terms are defined in the Amended Credit Agreement. The description of the Amended Credit Agreement is qualified in its entirety by the copy thereof which is attached as Exhibit10.1 to this report and incorporated herein by reference.

ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

The information above described under “Item 1.01. Entry into a Material Definitive Agreement” is hereby incorporated herein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) EXHIBITS

10.1 Amended and Restated Credit Agreement dated August7, 2017, by and among Texas Roadhouse,Inc., the lenders named therein and JP Morgan Chase Bank, N.A., as Administrative Agent.


Texas Roadhouse, Inc. Exhibit
EX-10.1 2 a17-19947_1ex10d1.htm EX-10.1 Exhibit 10.1   EXECUTION VERSION     AMENDED AND RESTATED CREDIT AGREEMENT   Dated as of August 7,…
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About TEXAS ROADHOUSE,INC. (NASDAQ:TXRH)

Texas Roadhouse, Inc. is a restaurant company, which operates in the casual dining segment. The Company offers an assortment of seasoned and aged steaks hand-cut daily on the premises and cooked to order over open grills. In addition to steaks, the Company also offers its guests a selection of ribs, fish, seafood, chicken, pork chops, pulled pork and vegetable plates, and an assortment of hamburgers, salads and sandwiches. The Company’s entrees include over two made-from-scratch side items and it offers all its guests a free unlimited supply of roasted in-shell peanuts and fresh baked yeast rolls. The Company owns approximately 400 company restaurants and over 80 franchise restaurants in approximately 50 states and over four foreign countries. Of the over 400 restaurants the Company operates approximately 392 as Texas Roadhouse and operates over seven as Bubba’s 33 restaurants. In addition, the Company operates over two restaurants outside of the casual dining segment.

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