Company: WBI
Filing Date: 2025-04-18
Form Type: DRS
Source: 0000950123-25-003575
Chunk: 138

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-04-18
Form: DRS
Chunk 138
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 $5.0 million, no mandatory prepayment is required.

The WBM Term Loan contains customary events of default, including for the failure of the Company or other loan parties to comply with the various financial, negative and affirmative covenants under the WBM Term Loan (subject to the cure provisions set forth therein). During the existence of an Event of Default (as defined in the WBM Term Loan), the WBM Term Agent may, or at the direction of the requisite lenders under the WBM Term Loan shall, declare all outstanding loans and accrued interest and fees under the WBM Term Loan to be immediately due and payable (among other available remedies).

As of December 31, 2024, we had $1,147.1 million of outstanding borrowings under the WBM Term Loan and the weighted average interest rate was 10.51%. We are currently in compliance with all covenants under the WBO Term Loan.

WaterBridge Midstream Revolving Credit Facility

On June 27, 2024, the revolving credit facility of WaterBridge Midstream was amended and restated (as amended, the “WBM Revolving Credit Facility”). Pursuant to the amendment and restatement, the total aggregate commitment amount increased from $85 million to $100 million, and the maturity date of the WBM Revolving Credit Facility was extended by three years to June 27, 2028. The WBM Revolving Credit Facility is secured by a first-priority lien on substantially all assets of WaterBridge Midstream and its subsidiaries and a parent pledge of the equity interests of 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 the Company, 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

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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