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Item 1.01 Entry into a Material Definitive Agreement.
February 11, 2021, United Natural Foods, Inc., a Delaware corporation (the "Company"), and SUPERVALU INC. (the "Co-Borrower" and, together with the Company, the "Borrowers"), the guarantors party thereto, the certain financial institutions that are parties thereto as lenders, Credit Suisse AG, Cayman Islands Branch, as successor administrative agent and collateral agent (the "Agent") and Goldman Sachs Bank USA, as existing administrative agent and existing collateral agent (the "Existing Agent"), entered into the Amendment No. 1 to the Term Loan Agreement (the "Amendment"), amending the Term Loan Agreement dated as of October 22, 2018 (as amended by the Amendment, the "Term Loan Agreement"), among the Borrowers, the guarantors party thereto,
the lenders from time to time party thereto, and the Existing Agent.
The Amendment provides for, among other things, (i) the reduction of the Applicable Rate for Eurocurrency Rate Loans (as defined in the Term Loan Agreement) from 4.25% to 3.50% and for Base Rate Loans (as defined in the Term Loan Agreement), from 3.25% to 2.50%, (ii) the appointment of the Agent as the replacement administrative agent and replacement collateral agent, (iii) the addition of provisions to provide for a transition to alternative reference rates upon the cessation of publication of the London Inter-bank Offered Rate (LIBOR), and (iv) other administrative changes.
Except as described above, all of the other material terms of the Term Loan Agreement remain unchanged and in full force and effect. The foregoing description
of the Amendment in this Form 8-K is only a summary and does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an Exhibit to UNFI’s Quarterly Report on Form 10-Q for the quarter ended January 30, 2021.