Debt Covenant
Based on the 2020 outlook, the Company is forecasting a need for relief concerning its existing
leverage ratio covenant in its $650 million Credit Agreement dated March 29, 2019 (the "Credit
Agreement"), to avoid a potential acceleration of the debt, which could have a material adverse
impact on the Company. Approvals have been received, pending completion of final documentation,
from participating banks to amend the maximum consolidated leverage (debt-to-EBITDA) in the
Credit Agreement for the required relief. In connection with the amendment, the Company and
certain of its subsidiaries will provide additional collateral and subsidiary guarantees.
Based on the 2020 outlook, the Company is forecasting a need for relief concerning its existing
leverage ratio covenant in its $650 million Credit Agreement dated March 29, 2019 (the "Credit
Agreement"), to avoid a potential acceleration of the debt, which could have a material adverse
impact on the Company. Approvals have been received, pending completion of final documentation,
from participating banks to amend the maximum consolidated leverage (debt-to-EBITDA) in the
Credit Agreement for the required relief. In connection with the amendment, the Company and
certain of its subsidiaries will provide additional collateral and subsidiary guarantees.
