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EX-10 - AMENDED AND RESTATED CREDIT AGREEMENT - NUTRI SYSTEM INC /DE/ | rrd327701_36669.htm |
DE
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23-3012204
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Loans under the Credit Facility will bear interest at either a base rate or a Eurodollar rate, in each case plus an applicable margin. The base rate will be the highest of (i) Bank of America's base rate, (ii) 0.50% percent above the Federal Funds Rate or (iii) the Eurodollar rate for deposits in dollars for a one-month interest period on such day, plus 1.00%. The Eurodollar rate is equal to the London Inter-Bank Offered Rate for the relevant term. The applicable margin is subject to adjustment based on the Company's Consolidated Leverage Ratio and ranges from 0.50-1.50% per year for base rate loans and from 1.50-2.50% per year for Eurodollar Loans. The initial margin on the base rate is 0.75%, and the initial margin on the Eurodollar rate is 1.75%.
The Company will also pay fees with respect to the base amount of Letters of Credit at a rate per year equal to the applicable margin for Eurodollar rate borrowings under the Credit Facility and a fee on the unused amount of the Credit Facility. The unused fee is subject to adjustment based on the Company's Consolidated Leverage Ratio and ranges from 0.25-0.45% per year. The initial unused fee is 0.30%.
The Credit Facility contains financial and other covenants, including a maximum leverage ratio, a minimum fixed charge ratio and a minimum consolidated EBITDA requirement, and also includes limitations on, among other things, liens, certain acquisitions, consolidations and sales of assets.
NUTRI SYSTEM INC DE
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Date: December 09, 2011
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By:
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/s/ David D. Clark
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David D. Clark
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Chief Financial Officer
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Exhibit No.
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Description
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EX-10.1
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Amended and Restated Credit Agreement
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