Company: PRSU
Filing Date: 2025-01-07
Form Type: 8-K
Source: 0000950170-25-002962
Chunk: 0

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-01-07
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01. E

ntry into a Material Definitive Agreement.

On January 3, 2025, Pursuit Attractions and Hospitality, Inc. ( “ Pursuit” or the “ Company”), as a borrower, and Brewster Inc., an Alberta corporation and a co-borrower, entered into a Credit Agreement (the “ Credit Agreement”) with Bank of America, N. A., as administrative agent, and the other lenders named in the agreement (collectively, the “ Lenders”). The Credit Agreement provides for a $200 million revolving credit facility (the “ Revolving Credit Facility”), available in U. S. dollars, Canadian dollars, Euros and Pounds sterling, with a maturity of January 3, 2030. Proceeds from the Revolving Credit Facility will provide Pursuit with additional funds for operations, growth initiatives, acquisitions and other general corporate purposes. The applicable margin on loans made under the Revolving Credit Facility is determined by reference to a total net leverage ratio-based pricing grid.

The Credit Agreement contains representations, warranties and covenants customary for similar transactions. The Credit Agreement contains certain events of default customary for credit facilities of this type (with customary grace periods, as applicable), including, but not limited to: material incorrectness of a representation or warranty when made; nonpayment of principal or interest when due; breach of covenants or other terms; acceleration or default on other material indebtedness; unsatisfied ERISA and Canadian pension plan obligations beyond specified thresholds and other specified ERISA and Canadian pension plan events; unstayed material judgments; bankruptcy or insolvency events; change of control of Pursuit; and invalidation of any loan document. If any events of default occur and are not cured within applicable grace periods or waived, the outstanding loans under the Credit Agreement may be accelerated and the Lenders’ commitments may be terminated. The occurrence of a bankruptcy or insolvency event of default will result in the automatic termination of commitments and acceleration of outstanding loans under the Credit Agreement.

Other than in respect of the Credit Agreement, neither the Company, nor its affiliates, have any material relationships with the Lenders.

The description of the Credit Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Credit Agreement, which is being filed as Exhibit 10.1 hereto and is incorporated by reference herein.

Item 1.02. Te rmination of a Material Definitive Agreement.