The Amended and Restated Credit Agreement: subject to certain terms and conditions extends the maturity date of the Credit Facility from September 28, 2020
to September 28, 2022(the 'Maturity Date'); addresses the needs of the Corporation's expanding U.S.
The credit agreement runs through September 28, 2020
. Terms and Conditions can be found in the Form 8-K to be filed by QuickLogic with the SEC on December 28, 2018.
The loan bears interest at a rate of 6% per year, and matures on September 28, 2020
. The proceeds of this loan were used to repay and terminate the company's senior secured revolving credit facility (the "Terminated Facility") and to cash collateralize letters of credit that will remain outstanding.
The Chief Executive has appointed 28 persons, on an ad personam basis, as panel members of the Private Columbaria Appeal Board for a three-year term from September 29, 2017, to September 28, 2020
. The appointments were gazetted today (September 29).
The Note carries a coupon of 6.87 per cent, payable quarterly for a period of five years, and will mature on September 28, 2020