Company: UZF
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000821130-25-000051
Chunk: 30

Company: ARRAY DIGITAL INFRASTRUCTURE, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 30
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 lack of, approval by the FCC, the Federal Trade Commission and/or the Department of Justice.

No assurance can be given that Array will be successful with respect to any of its future acquisition or divestiture strategies or initiatives.

26

Financial Risk Factors

10)Uncertainty in Array’s or TDS' future cash flow and liquidity, its level of indebtedness or the inability to access capital, deterioration in the capital markets, changes in interest rates, other changes in Array’s or TDS' performance or market conditions, changes in Array’s or TDS' credit ratings or other factors could limit or restrict the availability of financing on terms and prices acceptable to Array could impact Array’s business operations.

Array has a variety of debt instruments and it may be necessary or desirable from time to time to increase this debt. Array’s ability to make scheduled payments on its indebtedness or to refinance it will depend on its financial and operating performance which, in turn, is subject to prevailing economic and competitive conditions and other factors beyond its control. A portion of Array's debt is subject to variable interest rates, which causes Array to be vulnerable to unfavorable changes in market interest rates.

Array’s liquidity would be adversely affected if, among other things, cash flows from operations significantly decline from anticipated levels, Array is unable to obtain short or long-term financing on acceptable terms, Array is not able to comply with certain debt covenants or Array is unsuccessful in negotiating related consents, waivers, or amendments, interest rates increase, Array makes significant business acquisitions, or the Los Angeles SMSA Limited Partnership (LA Partnership) and other minority-owned investment interests discontinue or significantly reduce distributions compared to historical levels. Array's liquidity may also be adversely affected by changes in the liquidity of TDS that impact TDS' or Array's ability to comply with certain debt covenants or if TDS or Array is unsuccessful in negotiating related consents, waivers, or amendments. These or other developments at TDS may negatively affect Array's ability to obtain short or long-term financing on acceptable terms.

Array’s revolving credit agreement and term loan agreement require Array to comply with certain affirmative and negative covenants, including certain financial covenants. Depending on the actual financial performance of Array, there is a risk that Array could fail to satisfy the required covenants. Restrictions with such debt instruments may limit Array’s operating and financial flexibility. Array’s restrictions contained in debt instruments and/or possible breaches of covenants, defaults, and acceleration of indebtedness could have an adverse effect on Array’s