nature sports activities – Walk On Mountain http://walkonmountain.com/ Tue, 23 Nov 2021 03:26:42 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://walkonmountain.com/wp-content/uploads/2021/10/favicon-5-120x120.png nature sports activities – Walk On Mountain http://walkonmountain.com/ 32 32 How Community Visibility Can Help Someone Enter the Reverse Mortgage Industry https://walkonmountain.com/how-community-visibility-can-help-someone-enter-the-reverse-mortgage-industry/ Mon, 22 Nov 2021 21:42:29 +0000 https://walkonmountain.com/how-community-visibility-can-help-someone-enter-the-reverse-mortgage-industry/ An important component of the modern reverse mortgage industry is educating on the modern iteration of the Home Equity Conversion Mortgage (HECM) or its proprietary alternatives, and recruiting new people to join the industry. on the side of origination or brokers. It can be difficult to know exactly where to start for those who can […]]]>

An important component of the modern reverse mortgage industry is educating on the modern iteration of the Home Equity Conversion Mortgage (HECM) or its proprietary alternatives, and recruiting new people to join the industry. on the side of origination or brokers. It can be difficult to know exactly where to start for those who can see the potential benefits of adding a reverse mortgage offer to their product catalog.

It is also important to know the current situation of the elderly and how a reverse mortgage can be well suited to help a senior looking for extra cash in their later years. That’s according to Jim McMinn, head of sales training at Longbridge Financial at the National Reverse Mortgage Lenders Association (NRMLA) virtual annual meeting earlier this month.

McMinn, who has been in the reverse mortgage industry since 2002, explained the current retirement landscape in the United States and how it contributes to a situation where a senior may find a reverse mortgage advantageous. The search for a viable reverse mortgage advance can be made or canceled by understanding the plight of all American seniors.

The current retirement landscape: pro-industry

Much of the confidence that many people in the reverse mortgage industry have in the industry’s prospects for the future centers on favorable demographics. According to the non-partisan research organization Population Reference Bureau (PRB), the share of older Americans who make up the country’s total population is set to increase dramatically, coupled with other trends, including the increase in longer lifespans and careers for older Americans, says McMinn. .

“The number of Americans 65 and over is expected to almost double, from 52 million in 2018 to 95 million in 2016,” McMinn said based on PRB data. “We know there are about 11,000 baby boomers turning 62 every day, which really increases our overall market. Seniors are working longer, but in 2018, 24% of men and about 16% of women 65 and over were in the labor force. These levels are expected to increase further in 2026 to around 26% for men and 18% for women. “

In 1950, the average life expectancy of an American was 68 years, and it has risen to 79.8 years today, McMinn says. Part of this is attributed to a reduction in mortality due to the improved quality of medical care that has emerged over the past seven decades. Yet it also creates problems for many long-held notions of retirement funding, he says.

Don’t underestimate the power of your words

Being integrated into the industry often comes with a great deal of first-hand knowledge of the potential benefits that a reverse mortgage can offer an eligible borrower, but as most industry participants know, reputation issues die hard. . Still, professionals shouldn’t underestimate the impact of their words when talking about the potential benefits that might exist for the right client, McMinn says.

“One of the great things is to speak, to speak, to speak,” he says. “Word of mouth is essential. I have traveled a lot in my career and have taken many air trips to different places. Inevitably, someone would ask me what I do for a living and I would tell them [I work with] reverse mortgages. People would say to me: “This is a terrible business! When I tried to break up with them and ask them why [they thought that way], this is usually because they had a friend of a neighbor whose sister took out a reverse mortgage and lost the house.

However, delving into the details of these scenarios would often reveal that a reverse mortgage probably wasn’t the culprit, McMinn says.

“Either it wasn’t a reverse mortgage or they had the material or information all wrong,” he says. “And so, talking to people, interacting, letting them know and dispelling all of these myths is going to really do a lot for our industry.”

Particularly for people who are new to the business or trying to find a way to access it, the importance of finding trusted advisors for people in the reverse mortgage demographic may not be immediately obvious. , McMinn said. As reputational hurdles have strained the reverse mortgage industry, borrowers often seek trusted voices within their spheres of influence or the local business community to ensure that reverse mortgages are safe.

“Whether you’re talking to financial planners, CPAs, builders, real estate agents, or senior lawyers, these are people you should build a relationship with,” he says. “Attend local events so that people understand that you are the person doing reverse mortgages. “

This visibility also lends itself to the idea of ​​getting involved in community organizations, which accomplish the missions of adding the necessary credibility to a reverse mortgage business as well as connecting with potential referral partners who may try to find ways to deliver services that can help seniors, says McMinn.

“It’s a great way to get involved,” he says. “There are like-minded people out there looking to do the same thing that you are looking to do. Finding a partner is also important, and what I love about it is finding other people with a similar mindset. These are people who are looking for business opportunities, who are looking to help the elderly. You can partner up, join efforts, and then provide resources to seniors.

Such partnerships can also extend beyond reverse mortgages, he says. Information that will be useful to older people can be difficult to find. Therefore, getting involved with people or organizations that often try to find holistic solutions focused on seniors can be a great place to sit, says McMinn. This fuels a potentially successful marketing approach that encourages holistic action.

“I say use a systematic approach to your marketing,” explains McMinn. “Make sure you’re working from all angles, establishing a reverse mortgage presence, and becoming the reverse mortgage industry expert in your community. “

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10 signs you have a debt problem https://walkonmountain.com/10-signs-you-have-a-debt-problem/ Mon, 22 Nov 2021 15:00:33 +0000 https://walkonmountain.com/10-signs-you-have-a-debt-problem/ Image source: Getty Images According to a CNBC report from 2021, the average American has $ 90,460 in debt. While this number represents everything – from housing to credit card debt auto loans – it’s still a burden for many. Research has shown that debt can trigger anxiety and depression, and can cause headaches, insomnia, […]]]>

Image source: Getty Images

According to a CNBC report from 2021, the average American has $ 90,460 in debt. While this number represents everything – from housing to credit card debt auto loans – it’s still a burden for many. Research has shown that debt can trigger anxiety and depression, and can cause headaches, insomnia, or an inability to concentrate. This is probably because most of us worry when we go in too deep, fearing that we don’t have an exit strategy.

Before we detail what to do in the event of over-indebtedness, let’s see how to know if you are overwhelmed. Here are 10 signs that debt may be a problem in your life.

1. Avoid mail

If you can barely bear to walk to the mailbox or open your email for fear that another bill is staring you in the face, debt might be to blame. If you let bills pile up on the kitchen counter because you know you’re going to have a hard time paying them, the problem could be excessive debt.

2. Receive collection calls

Once you start getting phone calls, letters, emails, or texts from creditors or debt collectors, you can be sure that you are too involved.

3. Being denied credit

If you are refused a loan and the creditor says it is because of “use of credit“, that means you have too much on your financial plate.

4. Lie about how you spend

When you find yourself lying to the people you care about, telling them that you used money for one purpose when it was spent another way, there is a debt problem.

5. Use of credit card advances

If the only way to find money in an emergency is to take a cash advance on a credit card, debt has crept into your life.

6. Pay the minimum

If you’ve been racking your brains for a way to pay more than the minimum payment on your credit cards but can’t seem to find anything, it’s probably because debt has robbed you of enough. money to move forward.

7. Debt transfer from one card to another

Transfer high interest debt from one credit card to another with a 0% promotional APR can be a great strategy to pay off a credit card faster and save money on interest. However, if you’re doing this because a card is chock full of fees and you need to free up some credit, there’s a problem that needs to be addressed.

8. Spending impulsively

If you’re so stressed out about your finances that the only thing that makes you feel better (if only for a moment) is spending more money on something you can’t afford and don’t don’t need it, it could be due to overwhelming debt.

9. Lose sleep

Turning around and back at night, trying to find a viable solution to your money problems, is a sure sign that you have too much debt.

10. Feeling hopeless

If you’ve almost given up on taking control of your debt, you know you’ve got a problem. As discouraged as you may feel, there is hope. In fact, there are several avenues that can ease the financial burden. Read on to find out what you can do. And if one approach doesn’t work for you, try another method. No one else is going to fix it for you.

Find the right solution for you

The next time you step out of the house, take a look around. Every person you see, every person you meet, has their own unique issues. It is a condition of life. No matter how burdened you feel with your current financial situation, it won’t last forever. Take a look at these debt repayment plans and see if any of them are right for you.

DIY

If you’re the type of person who likes to do things on your own, that’s not a bad thing. If you are determined enough, these steps can help you reduce your debt to a more manageable level.

  • Pay more than the minimum. Spend your budget with a fine tooth comb, looking for any expenses that can be cut. For example, can you do without one streaming service or two? How long has it been since you shopped for new owners or auto insurance? The change can save you money every month. The goal is to find as many small savings as possible and divert those payments to your debt.
  • Adopt a new debt strategy. Because you aren’t the first person to be in debt (and won’t be the last), there are several debt strategies designed to help you systematically reduce debt in your life. They are called things like “debt snowball“and” debt avalanche “, and it works.
  • Use “money found”. Make a commitment to use every tax refund, bonus, and birthday check for debt.
  • Sell ​​what you can. If you’re like most people, you probably have a lot of things lying around your house that you don’t use anymore. Sell ​​them to raise enough funds to pay off some of the debt.
  • Settle for less. There’s no rule that says you can’t call a creditor and negotiate to pay off debt that is less than you owe. Get it in writing first and know that a settlement for less than what is owed to you will hit your credit report hard. But if your credit score is already on, it’s worth considering.

Debt consolidation

If your credit score is still relatively strong, you may be able to purchase a debt consolidation loan to pay off all your debts at once. If you are a member of a credit union, this would be a great place to start. Otherwise, there are many online lenders who deal with debt consolidation. Ideally, you’ll get an interest rate that is lower than the average rate you pay on your current debt and save money in interest. The issue after you take out a consolidation loan is to avoid taking on new credit.

Non-profit credit counseling

There is no reason to go it alone. A nonprofit credit counseling agency can help you do everything from creating a realistic budget to eliminating late fees, stopping collection calls and lowering loan rates. interest. The National Foundation for Credit Counseling (NFCC) has been around since 1951 and can help you find a nonprofit organization that will work on your behalf. If you go this route, be sure to ask questions, including the impact of participation on your credit rating — For the best or for the worst.

As serious as it may sound, debt overload does not have to be a permanent condition. Find a plan that works for you, believe in yourself, and as you reduce your debt, start planning for a better financial future.

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Three Valley Copper announces commitment to senior debt forbearance agreement https://walkonmountain.com/three-valley-copper-announces-commitment-to-senior-debt-forbearance-agreement/ Mon, 22 Nov 2021 13:15:00 +0000 https://walkonmountain.com/three-valley-copper-announces-commitment-to-senior-debt-forbearance-agreement/ / NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION, PUBLICATION, DISTRIBUTION ORDIRECT OR INDIRECT DISTRIBUTION, IN WHOLE OR IN PART, IN THE UNITED STATES. TORONTO, Nov. 22, 2021 (GLOBE NEWSWIRE) – (TSXV: TVC) Three Valley Copper Corp. (“Copper from the Three Valleys“or the”Society“) announces that an engagement (the”Business“) has been entered into between […]]]>

/ NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION, PUBLICATION, DISTRIBUTION OR
DIRECT OR INDIRECT DISTRIBUTION, IN WHOLE OR IN PART, IN THE UNITED STATES.

TORONTO, Nov. 22, 2021 (GLOBE NEWSWIRE) – (TSXV: TVC) Three Valley Copper Corp. (“Copper from the Three Valleys“or the”Society“) announces that an engagement (the”Business“) has been entered into between the Company and the Senior Secured Lenders (the”Lenders”) By Minera Tres Valles (“MTV”), The Company’s 91.1% -owned principal asset located near Salamanca, in the Coquimbo region, Chile.

The Company, as well as its direct and indirect wholly owned subsidiaries, including MTV, and the lenders (together, the “Parties”) Have undertaken to sign a binding final agreement no later than September 30, 2022, to revise the loan repayment schedule as defined in the loan facility agreement, as amended and updated by the agreement amendment and restatement dated November 5, 2020 (the “Ease Agreement“).

Pursuant to the terms of the Undertaking, the Lenders have agreed not to expedite or enforce their rights or remedies under the Credit Agreement if MTV fails (i) to make the scheduled loan repayments on March 31, 2022, June 2022 and September 30, 2022 and / or (ii) replenish the operating reserve account to restore the minimum reserve as required under the facility agreement (each, a “Specified default event“). Under the terms of the Undertaking, the abstention period is from November 22, 2021 to October 1, 2022 (the “Abstention period“).

This commitment also provides that the proceeds of the recently announced bought deal financing of Cdn $ 16 million (the “Offer“) will not be used to repay any of the loans outstanding under the credit agreement during the forbearance period. The Lenders will cease to be bound by the Undertaking if the Company does not invest the net proceeds of the Offer in MTV between the closing of the Offer and April 30, 2022, if an event of default arises under the Facility Agreement other than a Specified Event of Default or if the Parties fail to reach an agreement final by September 30, 2022, under which the loan repayment schedule in the Facility Agreement is revised.The Company expects the placement to end on or around November 25, 2021.

“Our major lenders continue to partner with us,” said Michael Staresinic, President and CEO. “This is an important first step in restructuring MTV’s debt obligations to improve MTV’s cash flow in 2022 as we complete the development of the Papomono mine. and increase production in 2022. Papomono is nearing completion and we are on schedule to complete our first ore caving in January 2022.

The Company will provide an update when further disclosure is required or otherwise appropriate.

A copy of the pledge will be available under the company profile at www.sedar.com.

About Three Valley Copper

Three Valley Copper, headquartered in Toronto, Ontario, Canada, is focused on growing copper production from its core asset, Minera Tres Valles, and further exploration of it. this. Based in Salamanca, Chile, MTV is 91.1% owned by the Company and MTV’s main assets are the Minera Tres Valles mining complex and its 46,000 hectares of exploration land. For more information about the company, please visit www.threevalleycopper.com.

Caution regarding forward-looking information

Certain statements in this press release contain forward-looking information (collectively referred to herein as “Forward-looking statements“) within the meaning of applicable Canadian securities laws. The use of any of the words” expect “,” anticipate “,” continue “,” estimate “,” may “,” will “,” project “,” should “,” believe “,” plan “,” intend “and similar expressions are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this press release contains statements forward-looking statements regarding: the restructuring of the facility agreement and the timing thereof, the intended use of the proceeds and the timing of the placement as well as the income and progress of the development of the Company’s mining projects.

Although TVC believes that forward-looking statements are reasonable, they are not guarantees of future results, performance or achievement. A number of factors or assumptions were used in making the forward-looking statements, including: continued support from the lenders in the renegotiation of the facility agreement, no other material disruption affecting the development and operation of MTV; the availability of certain consumables (including water) and services and the prices of electricity and other essential supplies; expected labor and material costs and available supply; expected fixed operating costs; permits and arrangements with stakeholders; certain tax rates, including the attribution of certain tax attributes, being applicable to MTV; the availability of funding for the anticipated operational and development activities of the Company and MTV; assumptions made in the estimates of mineral resources and mineral reserves and the financial analysis based on these estimates, including (if applicable), but not limited to, the geological interpretation, grades, price assumptions of commodities, metallurgical performance, mining and recovery rates, hydrological and hydrogeological assumptions, capital and operating cost estimates, and general marketing, political, business and economic conditions, continued availability of quality management, critical accounting estimates, all terms of the restructuring agreement and installation agreement to which MTV and the Company are parties will be satisfied in the future, including no event of default (except as authorized by the Undertaking), existing water supply will continue, additional water availability will continue, geopolitical risk of Ch it will remain stable, including risks related to labor disputes, construction and mining expansion including the Papomono Masi vo underground inclined block caving mining project, as well as its timing and production; the favorable outcome of litigation and / or arbitration initiated by the minority shareholder of the Company’s operating subsidiary, MTV; the production schedule and results of the recently restarted Don Gabriel mine; and the expected time frames for the withdrawal and repayment of MTV’s debt.

Actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements if the assumptions underlying the forward-looking statements prove to be inaccurate or if one or more risks or other factors materialize, including: (i ) possible variations in the score or recovery rate; (ii) fluctuations and uncertainties in copper prices; (iii) delays in obtaining government approvals or funding; (iv) risks associated with the mining industry in general (for example, operational risks associated with development, exploration and production; delays or changes in plans regarding exploration or development projects or capital expenditure; the uncertainty of estimates and projections relating to mineral reserves, production, costs and expenses, and risks related to work, health, safety and the environment) and risks associated with industries other portfolio companies in general; (v) the performance of the counterparty to the ENAMI Contract; (vi) risks associated with investing in emerging markets; (vii) general economic, market and business conditions; (viii) market volatility which would affect the ability to enter or exit investments; (ix) failure of the strategic review to result in a strategic review event; (x) the inability to obtain additional financing in the future on terms acceptable to the Company, if any; (xi) fluctuations and uncertainties in commodity prices and exchange rates; (xii) risks associated with catastrophic events, man-made disasters, terrorist attacks, wars and other conflicts, or a public health epidemic or other public health crises, including COVID-19 ; (xiii) the risks disclosed under the heading “Risk Management” in TVC’s MD&A for the period ended December 31, 2020; and (xiv) risks disclosed under “Risk Factors” or incorporated by reference in TVC’s annual information form dated March 3, 2021. Forward-looking statements speak only as of the date hereof, unless otherwise indicated, and SRHI assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable Canadian securities laws.

For more information:

Michael staresinic
Chief Executive Officer
T: (416) 943-7107
E: mstaresinic@threevalleycopper.com

Renmark Financial Communications Inc.
Joshua Lavers: jlavers@renmarkfinancial.com
T: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

Source: Three Valley Copper Corp.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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TRAVEL & LEISURE CO. : Conclusion of a material definitive agreement, creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a declarant, financial statements and exhibits (Form 8-K) https://walkonmountain.com/travel-leisure-co-conclusion-of-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-declarant-financial-statemen/ Mon, 22 Nov 2021 11:04:07 +0000 Article 1.01. The conclusion of an important definitive agreement. Preview enabled November 18, 2021, Travel + Leisure Co. (the “Company”) and National Association of American Banks, as Trustee (the “Trustee”), entered into the Third Supplementary Trust Deed (the “Third Supplementary Trust Deed”) to the Deed, dated December 13, 2019 (the “Basic Deed” and, together with […]]]>

Article 1.01. The conclusion of an important definitive agreement. Preview enabled November 18, 2021, Travel + Leisure Co. (the “Company”) and National Association of American Banks, as Trustee (the “Trustee”), entered into the Third Supplementary Trust Deed (the “Third Supplementary Trust Deed”) to the Deed, dated December 13, 2019 (the “Basic Deed” and, together with the Third Supplementary Deed, the “Deed”), in connection with the issue and sale of $ 650,000,000 total capital amount of 4.50% of senior covered bonds maturing in 2029 (the “Bonds”) at JP Morgan Securities LLC and certain other original purchasers (collectively, the “original purchasers”). The Company expects to use the net proceeds from the sale of the Notes, together with available cash, to redeem all of its 4.25% guaranteed notes due. March 2022 (the “2022 Securities”) and to pay the related fees and expenses.

Interest; Ranking; Guarantees The Notes bear interest at the rate of 4.50% per year payable semi-annually in arrears on June 1 and 1st December of each year, starting June 1, 2022. The Notes are senior secured obligations and have the same right of payment as existing and future senior indebtedness of the Company outstanding from time to time, including obligations under its credit agreement, as of May 31, 2018, with
Bank of America, NA., as administrative agent, the various lenders and issuers of letters of credit who are parties to it from time to time, and the other parties to it (as amended, restated, amended and restated, supplemented or otherwise amended from time to time, the “Credit Agreement”) (except to the extent of their collateral) and the 2022 Notes, the 3.90% Corporate Notes due 2023, the 5.65% Corporate Notes due 2024, the 6.60% Company Notes due 2025, the 6.625% Company Notes due 2026, the 6.00% Notes due 2027 and the 4.625% Company Notes due in 2030. The Notes are in fact senior senior to unsecured and junior senior claims against subsidiaries of the Company up to the value of the collateral securing the Notes to that subsidiary. To the extent that claims under the Notes exceed the value of the collateral securing the Notes, the Notes will be structurally subordinate to claims against subsidiaries of the Company, including commercial claims and claims under the collateral under the Agreement. credit. The Notes are structurally subordinate to all obligations of each of the Company’s subsidiaries in excess of the value of that subsidiary’s collateral securing the Notes, subject to authorized privileges, including claims relating to trade indebtedness.

Tickets are not guaranteed. However, the act provides that in the future, subsidiary guarantees may be added, released or terminated in certain circumstances.

Optional Redemption The Tickets are redeemable at any time before September 1, 2029 (three months before the maturity date of the Notes), in whole or in part, at the choice of the Company, at a redemption price equal to the greater of (i) 100% of the principal amount of the Redeemed Notes and (ii and) a “redemption” price specified in the trust indenture and the Notes, plus accrued and unpaid interest on the principal amount of the Notes redeemed up to, but not including, the redemption date.

Tickets are refundable at any time from September 1, 2029 (three months before the maturity date of the Notes), in whole or in part, at the Company’s choice, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued interest and unpaid on the principal amount of the Redeemed Notes up to, but not including, the redemption date.

Change of Control Subject to certain limitations, in the event of an event triggering a Change of Control (as defined in the Indenture), the Company will be required to offer to repurchase the Notes at a price of 101%. their principal amount plus unpaid interest, if applicable, up to, but not including, the date of redemption.

Alliances; Events of Default The deed contains certain restrictive covenants, including, among others, restrictive covenants that restrict the ability of the Company and some of its subsidiaries to incur debts secured by lien and to enter into sale and leaseback transactions. . The deed also contains customary provisions for events of default, including for non-payment of principal or interest when due and payable, non-compliance with covenants or agreements in the deed or notes. and the failure to remedy or obtain a waiver of such default on notice, a default in respect of other debts of the Company or of certain of its subsidiaries such as at least $ 50 million
the aggregate principal amount of debt is accelerated, which acceleration has not been reversed or canceled within 30 days of notification, and bankruptcy, insolvency or reorganization events affecting the Company and some of its subsidiaries. In the event of default, the principal amount of the Notes plus accrued and unpaid interest may be accelerated.

————————————————– ——————————

Certain Relationships The original purchasers and their affiliates have engaged and may in the future engage in investment banking and other commercial lending services in the ordinary course of business with the Company or its affiliates. They have received, or may in the future receive, the usual fees and commissions for these transactions. The Company expects to use the net proceeds from the sale of the Notes, together with available cash, to repurchase all of the Company’s outstanding 2022 Notes and pay related fees and expenses. Some of the original purchasers may hold the 2022 tickets and therefore may receive a portion of the proceeds from the ticket offering when the 2022 tickets are redeemed.

The description of the Notes and Deed in this current Report on Form 8-K (this “Current Report”) are summaries and are qualified in their entirety by reference to the full terms of the Deed and Form of note included therein. The Basic Deed, Third Supplementary Deed and Note Form are filed herein as Exhibits 4.1, 4.2 and 4.3, respectively, and are incorporated by reference herein.

Article 2.03. Creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant. The information provided in section 1.01 of this current report is incorporated by reference herein.



Item 9.01.  Financial Statements and Exhibits.
d) Exhibits. The following exhibit is furnished with this report:


Exhibit No.                                          Description
4.1                  Indenture, dated December 13, 2019, between Wyndham Destinations, Inc. and
                   U.S. Bank National Association, as Trustee (incorporated by reference to
                   Exhibit 4.1 to the Company's Current Report on Form 8-K filed on December 13,
                   2019).
4.2*                 Third Supplemental Indenture, dated November 18, 2021, between Travel +
                   Leisure Co. and U.S. Bank National Association, as Trustee.
4.3*                 Form of 4.50% Note due 2029 (included in Exhibit 4.2).
104                Cover Page Interactive Data File (cover page XBRL tags are embedded within the
                   Inline XBRL document)


________________
* Filed with this report


————————————————– ——————————

© Edgar online, source Previews

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Global Payday Loans Market Report (By Type, Marital Status & Client Age) 2021-2030, with Cashfloat, CashNetUSA, Creditstar, Lending Stream, and Speedy Cash https://walkonmountain.com/global-payday-loans-market-report-by-type-marital-status-client-age-2021-2030-with-cashfloat-cashnetusa-creditstar-lending-stream-and-speedy-cash/ Mon, 22 Nov 2021 09:08:00 +0000 https://walkonmountain.com/global-payday-loans-market-report-by-type-marital-status-client-age-2021-2030-with-cashfloat-cashnetusa-creditstar-lending-stream-and-speedy-cash/ Dublin, November 22, 2021 (GLOBE NEWSWIRE) – The “Payday Loan Market Opportunity Analysis and Industry Forecast, 2021-2030” the report was added to ResearchAndMarkets.com offer. Growing youth awareness of payday loans and rapid approval of unrestricted loans is driving the growth of the global payday loan market. In addition, the presence of a large number of […]]]>

Dublin, November 22, 2021 (GLOBE NEWSWIRE) – The “Payday Loan Market Opportunity Analysis and Industry Forecast, 2021-2030” the report was added to ResearchAndMarkets.com offer.

Growing youth awareness of payday loans and rapid approval of unrestricted loans is driving the growth of the global payday loan market.

In addition, the presence of a large number of payday lenders has a positive impact on the growth of the market. However, factors such as high interest rates and the negative impact of payday loans on credit rating are expected to hamper the growth of the market.

On the contrary, an increase in the adoption of advanced technologies among payday lenders is expected to provide remunerative opportunities for market expansion during the forecast period.

The global payday loans market is segmented on the basis of type, marital status, age of client, and region. By type, the market is divided into in-store payday loans and online payday loans. According to marital status, he is classified as married, single and others. Based on the age of customers, the market is divided into under 21, 21-30, 31-40, 41-50, and over 50. By region, it is analyzed to North America, Europe, Asia-Pacific and in the LAMEA.

The major players presented in the Global Payday Loan Market Analysis are Cashfloat, CashNetUSA, Creditstar, Lending Stream, Myjar, Silver Cloud Financial, Inc., Speedy Cash, THL Direct, Titlemax, and TMG Loan Processing. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key market segments:

By type

  • Showcase payday loans

  • Online Payday Loans

By marital status

  • Married

  • Alone

  • Man

  • Female

  • Others

By customer’s age

  • Under 21

  • 21-30

  • 31-40

  • 41-50

  • More than 50

Key market players:

Main advantages of the report:

  • The study provides an in-depth analysis of the global payday loan market forecast along with current trends and future estimates to explain the impending pockets of investment.

  • Information on key drivers, restraints, and opportunities and their impact analysis on the global market is provided in the report.

  • Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the industry.

  • Quantitative market analysis from 2021 to 2030 is provided to determine the potential of the market.

For more information on this report, visit https://www.researchandmarkets.com/r/g0govj

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Korean investors still wary of risky private debt https://walkonmountain.com/korean-investors-still-wary-of-risky-private-debt/ Sun, 21 Nov 2021 05:40:29 +0000 https://walkonmountain.com/korean-investors-still-wary-of-risky-private-debt/ Although private debt has become an investment option, South Korean investors are reluctant to adopt strategies that capitalize on poor debt valuation, saying they prefer a conservative portfolio that protects investors from losses. Instead, they seek to increase investment security by focusing on diversification and recession-proof sectors. “We will continue to invest in defensive sectors […]]]>
Although private debt has become an investment option, South Korean investors are reluctant to adopt strategies that capitalize on poor debt valuation, saying they prefer a conservative portfolio that protects investors from losses.

Instead, they seek to increase investment security by focusing on diversification and recession-proof sectors.

“We will continue to invest in defensive sectors and build a well diversified portfolio, as we prefer an all weather strategy in the market with high uncertainties”, Park Wan-sun, head of the alternative investment team at the foreigner at Fubon Hyundai Life Insurance, told PDI Japan Korea Week 2021 Virtual Experience, an investor forum hosted on Nov. 10 by London-based market intelligence firm PEI.

Private debt is now gaining attention as a rapidly emerging alternative investment, based on predictions that demand for non-bank loans will increase among companies or projects involving real assets. According to Prince Edward Island, private debt fundraising in the first three quarters of 2021 jumped 18.2% to $ 139.5 billion globally.

Private debt varies in terms of risk level, from relatively safe senior debt to direct loans, mezzanine, special situations and the riskiest distressed debt.

In the latter two, the strategies are largely designed to take advantage of what investors think is a price shift – in other words, they think certain debt assets are valued incorrectly.

Investing in special situations targets borrowers who have strong fundamentals but who are affected by external uncertainties, while investing in distressed debt focuses on debt issued or borrowed by entities in financial difficulty.

Fubon Hyundai Life Insurance, the Korean insurance arm of the Taipei-based Fubon Group, committed $ 400 million this year to blind pool funds dedicated to private debt, 70% of which targeting direct and other non-bank loans . According to Park, his commitment to private debt will rise to $ 500 million next year.

Meanwhile, Hyundai Marine & Fire Insurance, which has allocated $ 880 million in private debt, is now seeking new offers of non-bank direct lending and mezzanine investing through fund managers. In addition, the institutional investor has started to invest directly in the financing of acquisitions.

According to its representative, these private debt strategies aim to provide protection, as risky bets are considered premature by Korean allocators at the nascent stage of private debt investment.

“We have strategically focused on direct lending and mezzanine debt, and we may also consider investing in special situation loans and distressed debt in the future,” said Oh Inn-chul, senior manager from Hyundai Marine & Fire Insurance.

“But we will take a wait-and-see approach. And that’s where the challenges would come from.

According to Oh, some private debt fund managers with an appetite for risk tout their performance as resilient and consistent, but it is often questioned whether their performance is driven by the actions of the fund managers or by the current high levels of liquidity in the market. Marlet.

“This is why we are taking a closer look at how our existing external managers are responding to change (in the post-COVID era),” Oh said.

Korean fund houses echoed the Korean dispatchers’ point of view in terms of seeking security.

One of them, VI Asset Management, viewed direct non-bank lending as its primary private debt strategy, deploying more than half of its total investment in private debt.

“We are capitalizing on direct lending strategies because they target senior loans secured with collateral. It offers downside protection with a loan clause, so institutional investors can seek protection and provide a decent return on their investment, ”said Lee Ha-kyoung, chief investment officer of VI Asset Management.

Meanwhile, distressed debt investments are fading in Korea.

“Distressed debts were in the spotlight immediately after the COVID-19 pandemic outbreak. But the market resolved this problem quickly and normalized, compensating for the poor placement of bond prices. Since then, troubled private debt investments are no longer common, ”said Eugene So, head of the global alternative investments team at IBK Securities.

The two Korean insurers have been reluctant to enter new emerging private debt markets.

Geographically, North America and Europe are major regions for private debt investment. According to the Prince Edward Island estimate, the concentration of capital targeted by the funds, excluding multi-regional funds, was estimated at $ 239.7 billion in September, accounting for 73 percent of the total capital.

The Asia-Pacific region is a rapidly growing market, but the capital targeting the region is still only $ 16.4 billion.

While Park of Fubon Hyundai expressed its intention to expand into the North American market by focusing on the European market, it said it was premature to expose itself to private debt deals in Asia, where the The concept of investing in private debt is relatively new and commercial lenders dominate the loan market.

“We don’t have a plan yet to invest in Asia-focused private debt funds,” Park said.

The process of risk management and scrutiny of conservatively-inclined Korean institutional investors often leaves them little chance to find their way.

And even asset-backed loans can be difficult to value because the scope of what can be used as collateral is very wide.

“There are a myriad of underlying asset classes for asset lending strategies and the way the investment is structured. So it’s not easy to come up with all the different strategies to assess risk, ”said Oh of Hyundai Marine & Fire.

As for what matters in which managers choose to manage exposure to private debt, they discussed the ability of a private debt fund manager to use dry powder as quickly as possible.

“We attach great importance to external partners who are able to quickly exhaust uncalled capital commitments and constantly continue to invest,” Oh said. “We monitor the investing activities of fund managers by reviewing the cash flows of their funds. “

This indicates how long the fund manager takes to use the free capital. Unused capital commitments translate into higher costs for Korean insurance companies, which are subject to more stringent capital adequacy regulations.

“Korean insurance companies impose capital charges not only on amounts withdrawn, but also on unfunded capital commitments. It is therefore more desirable that the capital commitment of Korean insurers is deployed by fund managers to generate profits, ”Park of Fubon Hyundai said.

Prince Edward Island is a media partner of the Korea Herald.

By Son Ji-hyoung (consnow@heraldcorp.com)

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How To Invest In Real Estate: 10 Ways To Buy Without Money https://walkonmountain.com/how-to-invest-in-real-estate-10-ways-to-buy-without-money/ Sat, 20 Nov 2021 01:46:09 +0000 https://walkonmountain.com/how-to-invest-in-real-estate-10-ways-to-buy-without-money/ skynesher / Getty Images Investing in real estate can be daunting, especially if you don’t have the money. If you’re ready to buy a property but don’t have the cash on hand, read on for 10 ways to start investing in real estate right now. 1. Real estate investment trust REIT companies own or finance […]]]>

skynesher / Getty Images

Investing in real estate can be daunting, especially if you don’t have the money. If you’re ready to buy a property but don’t have the cash on hand, read on for 10 ways to start investing in real estate right now.

1. Real estate investment trust

REIT companies own or finance income producing real estate in various real estate sectors. REITs are similar to mutual funds, offering everyday real estate investors the opportunity to earn income and returns based on dividends. You can invest in a real estate portfolio by purchasing shares of individual companies through an exchange traded fund or a mutual fund.

As a REIT shareholder, you earn a share of the income produced without purchasing, financing or directly managing the property. If you choose to invest in real estate with a REIT, you are in good company, as nearly 145 million American homeowners have invested in REITs through their retirement plans, such as IRAs and 401 (k) and other investment funds.

2. Hard money loan

Hard money loans are also known as bridge loans, short-term asset-backed bridge loans, also known as STABBLs, and asset-backed loans. They are used for short term mortgage financing. You can’t get a hard money loan from a bank or a credit union. Only private and individual lenders offer hard cash home loans.

Obtaining a hard money loan is often an easier and faster way to invest in real estate than going through the traditional process of institutional funding and approval. Plus, your credit history isn’t a problem, as hard cash loans are asset-based.

Investors who use cash loans to purchase real estate are typically people who renovate and sell properties for profit.

3. Government loans

The US government offers loan programs for real estate investment. Here are a couple to consider.

  • Department of Veterans Affairs (VA) Home Loan Program guarantees loans to eligible veterans, military personnel, reservists, members of the National Guard and certain surviving spouses of veterans. This loan usually requires $ 0 down payment and low interest rates.
  • Rural Housing Loan Program offers direct and secured loans to buy, build and improve a permanent residence. You can finance a new manufactured home if it is on a permanent site and was purchased from a government approved contractor or dealer. The property must be located in a rural area and you must be considered a low income earner.

4. Wholesale

Real estate investors can make huge profits from wholesaling real estate. This strategy involves wholesalers selling multiple properties to a retailer, who then renovates them and sells them to a third party buyer at a much higher cost. The wholesaler may charge the retailer a lower price because of the volume sold to the retailer.

5. Home hacking

If you want to invest in real estate but are worried about how you’ll pay your monthly mortgage, consider hacking your home. As a hacker, you become owner and owner. How is it?

You are buying a multi-family property. You live in one unit and rent out the other units. You can also renovate a single-family home into a multi-family property, creating an apartment unit for rent. The goal of home hacking is to generate enough income from the rent you collect to cover your entire monthly mortgage payment.

6. Capital partnerships

One of the ways to invest in real estate with little or no money is to create capital partnerships. If you are short of funds, you can use your wedding rings to make up the difference. Find a cheap property that is not in the best condition, and your financial partner can use their purchasing power – credit score and capital – to finance it. Each equity partner gets a percentage of ownership on the property.

7. Vendor financing

Before embarking on seller financing, be aware of the financial and legal risks. With seller financing, the seller becomes your direct lender. If you don’t qualify for a traditional mortgage, you might consider financing a loan through the seller of the house.

You can negotiate your loan agreement and the financing process is generally faster than the traditional method of financial institutions. The seller-funded agreement is also referred to as a land contract or contract for deed.

8. Home equity loan

When property values ​​are high, a home equity loan can be a viable real estate investment option for you if you don’t have upfront money available. With more equity in your home, you can capitalize on two options: do a cash rewrite and refinance the first mortgage, or keep the first loan and take out a home equity line of credit, also known as HELOC.

Be sure to look for lenders who allow investors to take out HELOCs on rental properties.

9. Purchase option agreement

If you are a current tenant, you can enter into an option to purchase agreement with the landlord. This contract gives you the right to buy the property in the future. Tenant and Landlord agree that a portion of the monthly rent payment is applied to the tenure of ownership over the term specified under the Rental Agreement with Option to Purchase.

10. Private money loan

When you have no money and want to invest in real estate, a private money loan can speed up the process. The catch is that interest on private money loans can range from 6% to 12%. Like hard money loans, funds come from individuals rather than traditional financial institutions. A good practice with private cash loans is to find a property that can be purchased for 50 cents on the dollar.

Your credit score is key

If your credit history isn’t great, you can still invest in real estate without putting money down. You must first know and understand your credit score. This is the number that lenders use to determine the likelihood that you will pay off your loan on time. The higher your score, the better your chances of getting a loan.

Keep in mind

If your credit score is far from perfect, you can still get financing, but it’s always better to negotiate from a position of knowledge rather than ignorance.

You can invest in real estate without cash using the financial tools described in this article. Take a look at them and choose the one that best suits your unique situation and needs.

Our in-house research team and on-site financial experts work together to create accurate, unbiased and up-to-date content. We check every statistic, quote and fact using reliable primary resources to make sure the information we provide is correct. You can read more about GOBankingRates processes and standards in our Editorial Policy.

About the Author

??Kathy Evans is a freelance personal finance writer and entrepreneur with a background in technical writing and instructional systems design. She holds an MA in Technical Writing and Information Design and is currently a doctoral student in Educational Technology at Towson University. With her experience working in the federal government as well as in the commercial and non-profit industries, she has focused her freelance writing on finance, investment and economic content with a focus on budget coaching.

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House passes Build Back Better Act with universal paid leave https://walkonmountain.com/house-passes-build-back-better-act-with-universal-paid-leave/ Fri, 19 Nov 2021 15:32:33 +0000 https://walkonmountain.com/house-passes-build-back-better-act-with-universal-paid-leave/ The nearly $ 2,000 billion Build Back Better (BBB) ​​law, passed by the United States House of Representatives on Friday, contains many elements of interest to CPAs, their clients, and their employers. This article examines the non-tax provisions of the bill, HR 5376. A separate article covers the myriad tax elements of the bill. The […]]]>

The nearly $ 2,000 billion Build Back Better (BBB) ​​law, passed by the United States House of Representatives on Friday, contains many elements of interest to CPAs, their clients, and their employers.

This article examines the non-tax provisions of the bill, HR 5376. A separate article covers the myriad tax elements of the bill.

The vote to pass the bill was 220-213.

The House’s passage of the BBB law came after months of negotiations between moderate and progressive Democrats in the US House and Senate. House Speaker Nancy Pelosi, D-Calif., Had hoped the House would vote on the bill on November 5, but those plans were scrapped when several moderate Democrats said they would not vote on the bill. until the Congressional Budget Office publishes its official document. estimate of the impact on the US deficit.

The CBO estimates the bill will cost nearly $ 1.7 trillion and add $ 367 billion to the federal deficit over 10 years. Adding $ 207 billion in unrecorded revenue that is expected to result from increased tax application in the bill, the total net increase in the deficit would be $ 160 billion.

The bill now goes to the US Senate, where it is expected to undergo a few weeks of evaluation to determine whether all of the bill’s provisions can be passed through the budget reconciliation process. Reconciliation allows some budget related bills to pass by only 51 votes and avoid being stopped by an obstruction, which requires 60 votes to complete.

The 100 Senate seats are split 50-50 between Democrats and Republicans, with Speaker of the House Vice President Kamala Harris representing the deciding vote. Republicans have been united against the BBB law, leaving Democrats with the chore of crafting legislation that is consistent with the rules of reconciliation and acceptable to all 50 of their senators. The legislation is unlikely to escape the Senate chambers in its current form, Senator Joe Manchin, DW.Va., telling CNN on Thursday that he had not yet decided whether to support the bill.

IMPORTANT BUSINESS IN HR 5376

Universal paid leave

In one of its most important and controversial provisions, the BBB Act would for the first time offer all American workers paid leave. Concretely, the bill guarantees four weeks of paid leave to all workers:

  • New parents;
  • Coping with their own serious medical conditions; Where
  • Need time off to care for a loved one with a serious medical problem.

Benefits would be paid to workers in one of three ways:

  • Via a public program managed by the Social Security Administration that would cover all workers in the public and private sectors, regardless of the size of the employer, including part-time workers and the self-employed.
  • Via an “old state” paid vacation program already in force which offers benefits equivalent to or greater than the federal benefit, and for which the state would be reimbursed at the level of what it would have cost to cover its workers in the federal program .
  • Via a plan (self-insured or via an insurer) of an employer who has voluntarily chosen to offer 100% of employees paid leave equal to or greater than the public benefit in all respects. The leave policy must include reinstatement protection in employment even if a worker is not covered by the law on family and medical leave. Employers whose plans meet these conditions would be reimbursed the lesser of 90% of the national average cost of paid leave benefits or 90% of their insurance premium.

Investments in small businesses

The BBB Act provides funding of around $ 5 billion to support small businesses.

Most of this money, $ 3.385 billion, is intended to improve the ability of small employers and entrepreneurs to access capital. Concretely, the bill allocates:

  • Almost $ 2 billion in total funding over 10 years to fund direct loans to smaller businesses and government entrepreneurs under Loan Program 7 (a) administered by the US Small Business Administration (SBA) .
  • $ 950 million in immediate and direct fee relief for new borrowers on SBA 7 (a) and 504 loans. Funding will be available until September 30, 2026 to reduce or waive fees for $ 2 million loans or less.
  • $ 60 million to diversify and build equity within the Small Business Investment Company (SBIC) program.
  • $ 275.9 million to strengthen and improve the Community Advantage program and also provide the SBA with the power to partner with nonprofit lenders to provide capital under the 7 (a) loan program.
  • $ 100 million to establish a pilot program to provide capital to co-ops.

Other investments related to small businesses include:

  • $ 1 billion over 10 years to establish a national network of “improvement incubators” to help new businesses and small government entrepreneurs, with the goal of stimulating economic development in under-represented communities.
  • $ 200 million over 10 years to provide cash grants of at least $ 100,000 to growth accelerators to expand their capabilities and help small, tech-driven businesses.

Other business-related provisions

The BBB Act invests about $ 390 billion to fund universal preschool programs for all 3- and 4-year-olds and to improve access to affordable child care. Democrats say child care costs are too high for many families, forcing millions of Americans out of the workforce and contributing to the labor shortage that has hit millions of employers . The BBB law would ensure that almost all families of four earning up to $ 300,000 would pay no more than 7% of their income for child care. Additionally, the law would provide funding to child care providers to increase the wages of their workers and add staff to serve more families.

Other allowances related to cases scattered throughout the 2,100-page bill include:

  • $ 5 billion for the Department of Commerce to identify and monitor critical vulnerabilities in the manufacturing supply chain.
  • $ 1 billion in grants to help minority-owned businesses start and grow their businesses. The bill provides an additional $ 400 million to expand the Minority Business Development Agency and $ 200 million to establish rural business centers that primarily serve rural minority-owned businesses.
  • $ 500 million for the Federal Trade Commission to create and operate a new office dedicated to stopping unfair and deceptive acts and practices related to privacy breaches, data security incidents, theft of identity and other data abuse.

Jeff drew (Jeff.Drew@aicpa-cima.com) is a JofA editor-in-chief.

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6 Benefits of Direct Cash Lenders https://walkonmountain.com/6-benefits-of-direct-cash-lenders/ Thu, 18 Nov 2021 21:48:09 +0000 Benefits of Direct Cash Lenders When you’re in financial trouble The smallest unexpected expense could cause your budget to break point if you’re not able to deal with it. In the event of an emergency situation there are many kinds of loans available for you to pick from to aid in overcoming an emergency financial […]]]>

Benefits of Direct Cash Lenders

When you’re in financial trouble The smallest unexpected expense could cause your budget to break point if you’re not able to deal with it. In the event of an emergency situation there are many kinds of loans available for you to pick from to aid in overcoming an emergency financial situation. To help you comprehend the ways a direct lender can assist to ease your financial burden, ACFA is available for direct cash lenders for bad credit. And We’ll be providing information on some of the advantages from applying to the direct cash lender.

Improved Lines Of Communication

If you are using direct lenders one of the main advantages is the increased line of communication. When you are direct and cutting out the middleman, you can eliminate awkward silences and allow all your questions to be addressed and documents to be sent forward and back easily.

Documentation For The Loan Documentation

In addition to the enhanced way of communicating in addition, you will also benefit from better documentation. Directly all documents and personal data is sent directly to them and ensures that personal information is accounted for. The documents can be delivered to you via the mail and will let you are aware at all times of how much loan remains.

Cash in Your Account Within 24 hours

Another benefit of the direct lender option is that the loan will be available in your account immediately. After you’ve applied for the loan the lender will be in a position to conduct background checks. Then, they will provide you with a preliminari response as to whether or not you’ve been approved. If you are accepted you’ll be able to access the money in your account on the next or following working day.

Flexibility with the Terms of Loan

The ability to be flexible is crucial when you apply for an loan, especially when you are faced with an emergency financial situation. But, it’s not difficult to get it with direct lender loans to the amount you choose for your loan. If you go direct you’ll enjoy greater flexibility in the length of the loan. When you look at your income per month and negotiating the price that is fair, you can achieve the most favorable monthly APR for the loan you are considering. This will make getting free of financial stress considerably more simple and allows you to be able to make each month’s repayment.

Faster Online Applications

A loan application can appear to be a long and complicated process. However now that you can apply online for loans This has simplified processes and assisted increase their accessibility to people who need they. When you fill in all of details on the website and then submitting your application the lender can start initial checks and provide you with an response in less than 24 hours. This means that money is in your bank account quicker.

Higher Security Level

Security is a crucial element when you apply for a loan. Sometimes the middleman can cause miscommunication and, in the worst cases, an absence of security. By going directly, you’re secure and can ensure that your personal bank information is safe and secure , and there is no loss which gives you security at all moment.

In this regard there are a variety of advantages that you can reap when you go directly with a direct cash lender service. They could be the ideal loans for you in the event of a financial crisis.

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QUOTIENT TECHNOLOGY INC. : Conclusion of a material definitive agreement, creation of a direct financial obligation or obligation under an off-balance sheet arrangement of a registrant, financial statements and supporting documents (Form 8-K) https://walkonmountain.com/quotient-technology-inc-conclusion-of-a-material-definitive-agreement-creation-of-a-direct-financial-obligation-or-obligation-under-an-off-balance-sheet-arrangement-of-a-registrant-financial-sta/ Wed, 17 Nov 2021 21:43:04 +0000 Item 1.01 Conclusion of a Material Definitive Agreement. At November 17, 2021, Quotient Technology Inc. (the “Company”), as borrower, and certain subsidiaries of the Company, as guarantors, have entered into a loan, guarantee and guarantee agreement (the “ABL Credit Agreement”; the terms in capital letters used herein and not defined otherwise will have the definitions […]]]>

Item 1.01 Conclusion of a Material Definitive Agreement.

At November 17, 2021, Quotient Technology Inc. (the “Company”), as borrower, and certain subsidiaries of the Company, as guarantors, have entered into a loan, guarantee and guarantee agreement (the “ABL Credit Agreement”; the terms in capital letters used herein and not defined otherwise will have the definitions given to such term in the ABL credit agreement) with Bank of America, NA., a national banking association, and certain other financial institutions which are sometimes parties to it (collectively, the “Lenders”).

The ABL Credit Agreement provides for an asset-based revolving credit facility in the aggregate amount of $ 100 million and a sub-limit for letters of credit of
$ 10 million (the “ABL Facility”), which expires on November 17, 2026, with a spring maturity 91 days before the maturity of the outstanding 1.75% Senior Convertible Bonds of the Company maturing in 2022 (the “Bonds”), unless (i) the Bonds are (x) redeemed in full or converted into shares at least 91 days before the maturity of the Notes or (y) refinanced and / or extended until a date which is at least 91 days after the maturity date of the ABL Facility; or (ii) at any time during the 91 day period preceding the maturity of the Notes, (x) the Company has sufficient unallocated cash and cash equivalents and availability under the Facility. ABL (subject to a ceiling of $ 50 million for the purposes of this calculation) to fully repay the tickets, (y) the availability under the ABL facility is at least the greater of the following values: (1) $ 15 million and (2) 20% of the Borrowing Base, and (z) no event of default will have occurred or will continue. Amounts borrowed and repaid under the ABL facility may be re-borrowed at a later date.

Under the terms of the ABL Credit Agreement, borrowings under the ABL Facility will initially bear interest at a rate equal, for BSBY Loans, to the BSBY Rate plus the Applicable Margin or, for Base Rate Loans, the Base Rate. plus the Applicable Margin. The Applicable Margin is determined based on the average daily borrowing availability and is shown in the table below:

            Level    Average Daily Availability    Base Rate Loan    BSBY Loan
              I      > 50% of the Borrowing Base        0.25%          1.25%
              II     < 50% of the Borrowing Base       0.375%         1.375%


Under the ABL Credit Agreement, the amounts available for advances would be subject to a borrowing basis, which is a formula based on certain eligible receivables and reserves. The funds provided under the ABL Credit Agreement will be used by the Company to finance working capital and other general corporate purposes.

All obligations under the ABL Credit Agreement are guaranteed by the guarantors. The ABL Credit Agreement is secured by a first lien on all accounts receivable and other related assets of the Company and the guarantors. The obligations of Lenders under the ABL Facility will terminate and outstanding borrowings under the ABL Facility will mature on the fifth anniversary of the closing of the ABL Facility or earlier as described above.

ABL’s credit agreement includes borrowing terms, representations and guarantees, positive and negative covenants and events of default customary for financing of this type and size. ABL’s credit agreement requires the Company to maintain a minimum fixed charge coverage ratio at all times. The ABL credit agreement limits the ability of the Company and its subsidiaries to, among other things, incur additional debt, create liens on assets, pay dividends or make certain restricted payments, make certain sales of assets and merge, consolidate and / or sell or dispose of certain assets.

The description of the ABL Credit Agreement is qualified in its entirety by the copy thereof, which is attached as Exhibit 10.1 and incorporated herein by reference.

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Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information set out in section 1.01 above is incorporated by reference into this section 2.03

Item 9.01 Financial statements and supporting documents.

(d) Exhibitions

10.1 ABL credit agreement dated November 17, 2021.

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© Edgar online, source Previews

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