Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 131

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 131
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 delayed draw term loans that are SOFR loans.

On July 31, 2023, Legence Holdings secured a $155.0 million incremental term loan, and the proceeds were used to fund
acquisition-related payments.

On January 19, 2024, Legence Holdings secured a $125.0 million incremental term loan, and the
proceeds were used to fund acquisition-related payments.

On June 18, 2024, Legence Holdings secured a $125.0 million
incremental term loan, and the proceeds were used to fund acquisition-related payments.

On November 21, 2024, Legence Holdings
secured a $315.0 million incremental term loan, and the proceeds were used for general corporate purposes, including to fund a shareholder distribution and to fund acquisition-related payments, and extended the maturity date of its Revolving
Credit Facility by one year from December 16, 2025 to December 16, 2026.

On September 8, 2025, Legence Holdings and
certain of its subsidiaries amended the Credit Agreement to, amongst other things, revise the Credit Agreement to facilitate the Corporate Reorganization.

Under the terms of the Credit Agreement, Legence Holdings and its subsidiaries may be able to incur substantial additional indebtedness in the
future, subject to certain conditions. See “Risk Factors—Risks Related to Indebtedness—Despite our current indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt. This could further
exacerbate the risks associated with our leverage.”

The Credit Agreement contains a springing financial maintenance covenant solely
for the benefit of the Revolving Credit Facility that requires the First Lien Net Leverage Ratio not to exceed 8.50 to 1.00. The Credit Agreement generally defines this as the ratio of first lien secured indebtedness (net of cash) to consolidated
pro forma adjusted EBITDA for the preceding four fiscal quarters. The springing financial maintenance covenant is only tested if, as of the last day of any fiscal quarter, the amount of loans and/or letters of credit outstanding under the Revolving
Credit Facility is greater than 35% of the aggregate revolving credit commitments. Legence Holdings has never been required to test the springing financial maintenance covenant.

The Credit Agreement includes customary covenants restricting the ability of Legence Holdings and its subsidiaries to, among other things,
incur additional indebtedness, sell or convey assets, make loans to or investments in others, enter into