The Pennsylvania Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., several banks, and financial institutions is a legally binding document that outlines the terms and conditions of a credit arrangement. This agreement serves as a crucial financial tool, allowing SBA Communications, Corp. and SBA Telecommunications, Inc. to access credit and fund their operations. The agreement enables SBA Communications, Corp. and SBA Telecommunications, Inc. to secure loans and credit facilities from multiple banks and financial institutions. The inclusion of several lenders mitigates risk and diversifies their sources of funding. This arrangement provides greater flexibility in managing financial obligations and investments. The Second Amended and Restated Credit Agreement sets forth key provisions such as loan amounts, interest rates, repayment terms, and covenants. It outlines the rights and responsibilities of SBA Communications, Corp. and SBA Telecommunications, Inc., as well as those of the participating banks and financial institutions. This document ensures that all parties involved are aware of their obligations and entitlements, reducing the potential for misunderstandings or disputes. Additionally, the Pennsylvania Second Amended and Restated Credit Agreement may have various types depending on the specific terms and requirements of each individual agreement. Some key types that may exist under this agreement include: 1. Revolving Credit Facility: This type of agreement allows SBA Communications, Corp. and SBA Telecommunications, Inc. to borrow funds up to a predetermined amount during a specified period. They can repay and redraw these funds as needed, providing a flexible source of capital for their day-to-day operational needs. 2. Term Loan: This agreement provides a fixed amount of credit that must be repaid over a defined period, often with a predetermined repayment schedule. Term loans are frequently used for specific purposes such as financing capital expenditures, equipment purchases, or long-term investments. 3. Bridge Loan: This type of credit agreement offers short-term financing to aid in the transition between two financial events, such as the completion of a larger loan or a pending capital infusion. Bridge loans provide temporary liquidity until a more permanent financing solution can be secured. 4. Revolving Line of Credit: This credit facility provides an ongoing source of financing that SBA Communications, Corp. and SBA Telecommunications, Inc. can access at their discretion within predetermined limits. It offers flexibility and is commonly used for managing working capital fluctuations or financing future growth initiatives. In conclusion, the Pennsylvania Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., several banks, and financial institutions is a critical financial instrument that outlines the terms and conditions of credit arrangements. By entering into this agreement, SBA Communications, Corp. and SBA Telecommunications, Inc. can access necessary funds to support their operations while managing their financial obligations effectively.
The Pennsylvania Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., several banks, and financial institutions is a legally binding document that outlines the terms and conditions of a credit arrangement. This agreement serves as a crucial financial tool, allowing SBA Communications, Corp. and SBA Telecommunications, Inc. to access credit and fund their operations. The agreement enables SBA Communications, Corp. and SBA Telecommunications, Inc. to secure loans and credit facilities from multiple banks and financial institutions. The inclusion of several lenders mitigates risk and diversifies their sources of funding. This arrangement provides greater flexibility in managing financial obligations and investments. The Second Amended and Restated Credit Agreement sets forth key provisions such as loan amounts, interest rates, repayment terms, and covenants. It outlines the rights and responsibilities of SBA Communications, Corp. and SBA Telecommunications, Inc., as well as those of the participating banks and financial institutions. This document ensures that all parties involved are aware of their obligations and entitlements, reducing the potential for misunderstandings or disputes. Additionally, the Pennsylvania Second Amended and Restated Credit Agreement may have various types depending on the specific terms and requirements of each individual agreement. Some key types that may exist under this agreement include: 1. Revolving Credit Facility: This type of agreement allows SBA Communications, Corp. and SBA Telecommunications, Inc. to borrow funds up to a predetermined amount during a specified period. They can repay and redraw these funds as needed, providing a flexible source of capital for their day-to-day operational needs. 2. Term Loan: This agreement provides a fixed amount of credit that must be repaid over a defined period, often with a predetermined repayment schedule. Term loans are frequently used for specific purposes such as financing capital expenditures, equipment purchases, or long-term investments. 3. Bridge Loan: This type of credit agreement offers short-term financing to aid in the transition between two financial events, such as the completion of a larger loan or a pending capital infusion. Bridge loans provide temporary liquidity until a more permanent financing solution can be secured. 4. Revolving Line of Credit: This credit facility provides an ongoing source of financing that SBA Communications, Corp. and SBA Telecommunications, Inc. can access at their discretion within predetermined limits. It offers flexibility and is commonly used for managing working capital fluctuations or financing future growth initiatives. In conclusion, the Pennsylvania Second Amended and Restated Credit Agreement among SBA Communications, Corp., SBA Telecommunications, Inc., several banks, and financial institutions is a critical financial instrument that outlines the terms and conditions of credit arrangements. By entering into this agreement, SBA Communications, Corp. and SBA Telecommunications, Inc. can access necessary funds to support their operations while managing their financial obligations effectively.
