Xactly Corporation (NYSE:XTLY) Files An 8-K Termination of a Material Definitive AgreementItem 1.02
In connection with the entry into the Credit Agreement dated as of July31, 2017, by and among Excalibur Parent, LLC, a Delaware limited liability company (“Parent”), Excalibur Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent (“Merger Sub”), Xactly Corporation (“Xactly” or the “Company”), certain domestic subsidiaries of the Company, as guarantors, the lenders from time to time party thereto, and Goldman Sachs Middle Market Lending Corp., as administrative agent and collateral agent, and the consummation of the acquisition by Parent of the Company via the merger of Merger Sub with and into the Company, the Amended and Restated Loan and Security Agreement, dated as of August10, 2012, by and among Silicon Valley Bank, the Company, and Centive, Inc. as amended, was terminated and all obligations outstanding thereunder (other than obligations subject to customary cash collateralization arrangements) were paid off and extinguished.
About Xactly Corporation (NYSE:XTLY)
Xactly Corporation is a provider of cloud-based incentive compensation solutions for employee and sales performance management. The Company delivers its solutions through a software-as-a-service (SaaS) business model. The Company has a customer base, including companies in various industries, such as business and financial services, communications, life sciences, media and Internet, SaaS and traditional software, and retail. Its SaaS solutions are delivered through a cloud-based platform. Its solutions support finance, sales, compensation administrators, information technology and human resources personnel in designing, processing and managing incentive compensation. The Company offers products, including Xactly Incent Enterprise, Xactly Incent Express, Xactly Objectives, Xactly Territories, Xactly Insights, Xactly Quota, Xactly Incent Views, Xactly Inspire and Xactly Connect.
