11 unchanged sentences
We currently lease our facility in Eatonton, Georgia from the Putnam Development Authority.
−Removed: In December 2016, we entered into a payment in lieu of taxes (“PILOT”) arrangement commonly offered in Georgia by local community development programs to encourage industry development.
−Removed: The net effect of the PILOT arrangement is to provide us with incentives through the abatement of local, city and county property taxes and to provide financing for improvements of our Georgia plant (the “Project”).
−Removed: As part of the PILOT arrangement, the Putnam County Development Authority provided us with a credit facility for up to $10 million that can be drawn upon to fund Project improvements and capital expenditures as defined in the credit facility.
−Removed: If funds are drawn, we would pay transaction costs and debt service payments.
−Removed: The credit facility requires interest payments of 6.0% per annum on outstanding balances, which are due each December 1 through maturity on December 1, 2021, at which time all unpaid principal and interest are due.
−Removed: The credit facility is collateralized by the assets of the Project.
−Removed: As of December 31, 2021, we had not drawn down on this credit facility.
+Added: December 2016, the Company entered into a Payment in Lieu of Taxes (“PILOT”) agreement commonly offered in Georgia by local community development programs to encourage industry development.
+Added: The net effect of the PILOT agreement is to provide the Company with incentives through the abatement of local, city and county property taxes and to provide financing for improvements to the Company’s Georgia plant (the “Project”).
+Added: In connection with the PILOT agreement, the Putman County Development Authority provided a credit facility for up to $10,000 which could have been drawn upon to fund Project improvements and capital expenditures as defined in the agreement.
+Added: If funds had been drawn, the Company would have paid transactions costs and debt service payments.
+Added: The PILOT agreement required interest payments of 6.00% per annum on outstanding balances, which would have been due each December 1st through maturity on December 1, 2021, at which time all unpaid principal and interest would have been due.
+Added: The PILOT agreement was collateralized by the assets of the Project.
+Added: No amounts were drawn on this credit facility.
We currently operate 13 retail locations.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.