Item 1.01. Entry into a Material Definitive Agreement.
On September 30, 2008, German American Bancorp, Inc. (the "Company") and
JPMorgan Chase Bank, N.A. (the "Lender") executed and delivered to each other an
amendment to the Second Amended and Restated Loan and Subordinated Debenture
Purchase Agreement dated December 29, 2006, as previously amended in September
2007 (as amended, the "Loan Agreement") between the Lender and the Company.
Pursuant to this 2008 amendment, the Company's revolving line of credit
established by the Loan Agreement (which was to have expired and become due
September 30, 2008) was extended through September 30, 2009, and the amount of
the credit available to the Company under the revolving line of credit was
reduced from $15 million to $10 million. In addition, the interest rate payable
by the Company to the Lender in respect of LIBOR-based advances under the Loan
Agreement was increased from LIBOR plus 115 basis points to LIBOR plus 165 basis
points, and the Company agreed to pay a non-refundable fee on the unused portion
of the maximum amount available under the line of credit of thirty-five basis
points per annum, due quarterly in arrears.
Add
GABC to Portfolio
Set Alert
Email to a
Friend