Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 167

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 167
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 WaterBridge Midstream, and is also guaranteed by its parent and each of its subsidiaries.

The WBM Revolving Credit Facility provides for revolving borrowings subject to compliance with various financial and other covenants common in such agreements that apply to WaterBridge Midstream and its restricted subsidiaries, including (i) a minimum debt service coverage ratio of 1.10:1.00, measured on a periodic basis, (ii) a maximum net total leverage ratio of 5.00:1.00, measured as of the end of each fiscal quarter solely in the event the revolving exposure of the lenders under the WBM Revolving Credit Facility exceeds $45 million as of such date and (iii) restrictions on the ability to incur debt, grant liens, make dispositions, make distributions, engage in transactions with affiliates, or make investments.

Principal amounts borrowed under the WBM Revolving Credit Facility may be prepaid from time to time and commitments thereunder may be terminated without premium or penalty. Any principal amounts outstanding on the maturity date, June 27, 2028, will become due and payable on such date. At WaterBridge Midstream’s election, principal amounts under the WBM Revolving Credit Facility may be borrowed as SOFR Loans or Base Rate Loans. Term SOFR Loans under the WBM Revolving Credit Facility bear interest at a variable rate equal to Term SOFR for the applicable tenor plus 0.10% (“Adjusted Term SOFR”), plus a leverage-based applicable margin between 2.5% and 3.75% per annum. Interest on all outstanding Term SOFR Loans is payable on the last business day of the applicable interest period. Base Rate Loans under the WBM Revolving Credit Facility bear interest at a rate per annum equal to (x) the highest of (i) the Federal Funds Rate, as in effect from time to time, plus 0.50%, (ii) the prime rate which Truist Bank announces from time to time as its prime lending rate, (iii) Adjusted Term SOFR for a one-month tenor plus 1.00% and (iv) 0.00%, in each case plus (y) a leverage-based applicable margin between 1.5% and 2.75% per annum. Interest on all outstanding Base Rate Loans shall be payable quarterly in arrears. WaterBridge Midstream also pays a commitment fee based on the applicable percentage of undrawn commitment amounts under the WBM Revolving Credit Facility.

As of December