WEX INC. (NYSE:WEX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On February 27, 2019, WEX Inc. (the “Company”) entered into a Consent and Amendment Under Credit Agreement (the “Consent”) to obtain a waiver under and amendment to the Credit Agreement, dated as of July 1, 2016, among the Company, the subsidiaries of the Company identified therein, Bank of America, N.A., as administrative agent, and the lenders party thereto, as amended by the First Amendment to Credit Agreement dated July 3, 2017, the Second Amendment to Credit Agreement dated October 30, 2017, the Third Amendment to Credit Agreement dated January 17, 2018, the Fourth Amendment to Credit Agreement dated August 24, 2018 and the Fifth Amendment to Credit Agreement dated January 18, 2019 (the “Credit Agreement”). to the Consent, the lenders agree to waive any breach, default or misrepresentation of the Company resulting from a potential write-down of balance sheet accounts which may or may not go through the current period consolidated income statement of WEX in an amount not to exceed $70 million.
The foregoing summary of the Consent is qualified in its entirety by the complete text of the Consent, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference as if fully set forth herein.
Item 9.01. Financial Statements and Exhibits.
WEX Inc. Exhibit
EX-10.1 2 a51948408ex10_1.htm EXHIBIT 10.1 Exhibit 10.1 CONSENT AND AMENDMENT UNDER CREDIT AGREEMENT THIS CONSENT AND AMENDMENT UNDER CREDIT AGREEMENT (this “Consent”) is entered into as of February 27,…
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About WEX INC. (NYSE:WEX)
WEX Inc. is a provider of corporate payment solutions. The Company operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment provides customers with payment and transaction processing services designed for the needs of commercial and government fleets. This segment also provides information management services to these fleet customers. The Travel and Corporate Solutions segment focuses on the complex payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment and transaction monitoring needs. The Health and Employee Benefit Solutions segment provides healthcare payment products and software as a service (SaaS) consumer directed platforms, as well as payroll related benefits to customers in Brazil.
