Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 301

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 301
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0 million. On November 21, 2024, the maturity date of the revolving line of credit agreement was extended from
December 16, 2025 to December 16, 2026. Borrowings under the revolving line of credit agreement are secured by substantially all the assets of the Company.

On February 27, 2023, the Company amended the revolving line of credit agreement to transition its benchmark interest from LIBOR to SOFR.

Advances, including standby letters of credit, under the revolving line of credit agreement may be elected to be treated as either SOFR rate loans or base
rate loans. SOFR rate loans bear interest at SOFR plus 3.50% to 4.00% based on the

F-44

Legence Holdings LLC and Subsidiaries

Notes to Consolidated Financial Statements

Company’s Net Leverage Ratio, with a SOFR floor of 0%, and base rate loans bear interest at 2.50% to 3.00% plus the base rate, which is the highest of (a) the federal funds rate plus
0.50%, (b) the prime rate and (c) the SOFR rate for one month plus 1.00%. Interest on base rate loans is payable quarterly. Interest on SOFR rate loans is payable based on the selected interest period if less than three months or quarterly if
the selected interest period is three months or longer. In addition, a revolver commitment fee is payable quarterly for the unused portion of the revolving line of credit at a rate of 0.38% to 0.50% based on the Company’s Net Leverage Ratio.
As of December 31, 2024, the rate for the unused portion of the revolving line of credit is 0.38%. The revolving line of credit may be used to issue standby letters of credit, which reduce the available borrowings. As of December 31, 2024,
there are $5.2 million letters of credit outstanding under the revolving line of credit, with an interest rate of 3.88%.

As of December 31,
2024, $84.8 million was available to be borrowed under the revolving line of credit. There were no borrowings under the revolving line of credit as of December 31, 2024 or 2023.

The Company’s revolving line of credit agreement, in addition to customary affirmative covenants, contains a financial covenant that requires the
Consolidated First Lien Net Le