Credit Agreement Amendment
Once you have paid for a credit card, you may be tempted to close the account. However, to keep your creditworthiness higher, you should keep the credit card open, says myFICO. Based on the entity`s current credit quality, the revolving credit facility has an interest rate equal to LIBOR, plus a margin of 77.5 basis points and a facility fee of 15 basis points, and the term loan has an interest rate equal to LIBOR plus a margin of 85 basis points. Depending on the credit quality of the company, the margin under the revolving credit facility is between 70 and 140 basis points and the facility fee is between 10 and 30 basis points, and the margin under the loan term is between 75 and 160 basis points. In addition, the credit agreement provides for sustainability adjustments under which the applicable margin for the revolving credit facility and the temporary loan after September 15, 2022 can be reduced by a maximum of two basis points, depending on the company`s green building certification. The amount of credit you have versus the amount of credit you use is a factor in your creditworthiness. Stop borrowing money and pay what is already due, advises myFICO. This is one of the best ways to fix credit quickly. On September 15, 2021, UDR, Inc. (the “Company”) entered into as a borrower a second amended and adapted credit agreement (the “Credit Agreement”), which provides for a priority revolving credit facility of $1.3 billion (the “Revolving Credit Facility”) and a priority unsecured loan of $350 million (the “Temporary Loan”).
The credit agreement includes an accordion function that allows total liabilities under the revolving credit facility and total borrowing under the temporary loan to be increased to a total amount of up to $2.5 billion, subject to certain conditions, including the recovery of liabilities from one or more lenders. . . .