Other Information
−Removed: On December 7, 2021, the Company and Virco Inc., a wholly owned subsidiary of the Company, entered into Amendment No.
−Removed: 1 to the Amended and Restated Credit and Security Agreement and Limited Waiver (“Amendment No.
−Removed: 1”) with PNC Bank.
10.1 Amendment No.
−Removed: 1 provided a limited waiver of the Company’s violation of the covenant to maintain a fixed charge coverage ratio of at least 1.10 to 1.00 for the four fiscal quarter periods ended October 31, 2021, and amended the fixed charge coverage ratio as follows:
−Removed: (i) 1.00 to 1.00 for each of the consecutive four fiscal quarter periods of Borrowers ending January 31, 2022 and April 30, 2022, and (ii) 1.10 to 1.00 for each consecutive four fiscal quarter periods of Borrowers ending thereafter.
−Removed: In connection with Amendment No.
−Removed: 1, the Company also agreed to pay to PNC Bank a non-refundable fee of $50,000.
−Removed: The foregoing description of Amendment No.
−Removed: 1 is qualified in its entirety by Amendment No.
−Removed: 1, a copy of which is filed as an exhibit to this Quarterly Report on Form 10-Q and is incorporated by reference herein.None.
−Removed: 10.2 Amendment No.
−Removed: 1 to Amended and Restated Credit and Security Agreement and Limited Waiver, dated December 7, 2021, by and among Virco Mfg.
−Removed: Corporation and Virco, Inc., as borrowers, and PNC Bank, National Association, as the lender and administrative agent.
−Removed: 10.1 Amended and Restated Revolving Credit and Security Agreement dated September 28, 2021 by and among Virco Mfg.
−Removed: Corporation and Virco, Inc., as borrowers, and PNC Bank, National Association, as the lender and administrative agent (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 1, 2021)
+Added: 2 to Amended and Restated Revolving Credit and Security Agreement and Limited Waiver, dated April 15, 2022, by and among Virco Mfg.
+Added: Corporation and Virco, Inc., as borrowers, and PNC Bank, National Association, as lender and administrative agent (incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K filed with the Commission on April 21, 2022).
31.1 Certification of Robert A.
10 unchanged sentences
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
−Removed: December 13, 2021 By:
+Added: June 10, 2022 By:
/s/ Robert E.
2 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.