Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 465

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 465
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 applicable interest period plus a margin of 4.75%. Interest on Term SOFR Loans is payable at the end of the applicable interest period. Base Rate Loans bear interest at a rate per annum equal to the highest of (i) the Federal Funds Rate, as in effect from time to time, plus 0.5%, (ii) the prime rate, as published by The Wall Street Journal from time to time as the “bank prime loan” rate, and (iii) Term SOFR for a one-month tenor plus 1.00%, in each case, plus 3.75%. Interest on Base Rate Loans is payable quarterly. The Existing Term Loan B includes certain affirmative and restrictive covenants common in such agreements that apply to the Company, Borrower, and certain of Borrower’s subsidiaries, including (i) a minimum debt service coverage ratio of 1.10: 1.00 measured on a periodic basis, and (ii) restrictions on the ability to incur debt, grant liens, make dispositions, make distributions, engage in transactions with affiliates, and make investments. The Company was in compliance with the minimum debt service coverage ratio covenant as of June 30, 2025. The Company is required to prepay loans under the Existing Term Loan B in an amount equal to a portion of or all of the Company’s excess cash flow (“ECF”), as defined in the Existing Term Loan B, within five days of delivering year-end financials, commencing with the fiscal year ending December 31, 2025. The amount of the Company’s ECF required to be prepaid is determined by the net first lien leverage ratio as of the last day of the fiscal year. The Company is required to pay (i) 100% of ECF if the net first lien leverage ratio is above 5.00:1.00 (ii) 50% of ECF if the net first lien leverage ratio is less than 5.00:1.00 but above 4.50:1.00, (iii) 25% of ECF if the net first lien leverage ratio is less than 4.50:1.00 but above 4.00:1.00, and (iv) 0% if the net first lien leverage ratio is less than 4.00:1.00. Mandatory prepayments of Existing Term Loan B Loans from ECF are subject to customary deductions, including voluntary prepayments of the Existing Term Loan B or other pari