Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 459

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 459
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 amount equal to a portion of or all of the Company’s excess cash flow (“ECF”), as defined in the Existing Term Loan B, within five days of delivering year-end financials, commencing with the fiscal year ending December 31, 2025. The amount of the Company’s ECF required to be prepaid is determined by the net first lien leverage ratio as of the last day of the fiscal year. The Company is required to pay (i) 100% of ECF if the net first lien leverage ratio is above 5.00:1.00 (ii) 50% of ECF if the net first lien leverage ratio is less than 5.00:1.00 but above 4.50:1.00, (iii) 25% of ECF if the net first lien leverage ratio is less than 4.50:1.00 but above 4.00:1.00, and (iv) 0% if the net first lien leverage ratio is less than 4.00:1.00. Mandatory prepayments of Existing Term Loan B Loans from ECF are subject to customary deductions, including voluntary prepayments of the Existing Term Loan B or other pari passu debt, or payments of the Revolving Credit Facility to the extent such prepayment constitutes a permanent reduction of revolving commitments thereunder. These voluntary Existing Term Loan B prepayments or payments made in conjunction with an equal reduction of commitments under the Revolving Credit Facility may occur within 90 calendar days after year end. In the event ECF in any year is equal to or less than $5.0 million, no mandatory prepayment shall be required. Debt issuance costs associated with the Original Term Loan B and Existing Term Loan B, as applicable, consist of fees incurred to secure the financing and are amortized over the life of the loan using a method which approximates the effective interest method as a direct deduction from the carrying amount of the related long-term debt. The table below summarizes the amortization and write off of debt issuance costs and interest expense associated with the Term Loan B which are included in interest expense, net, on the consolidated statements of operations.

| Term Loan B                                |     | Three Months Ended 
 June 30,           
 2025               |        |   |     | 2024 |        |   |     | Six Months Ended 
 June 30,         
 2025             |        |   |     | 2024 |        |   |
|:-------------------------------------------