PTC said it and its subsidiary PTC (IFSC) Limited entered into Amendment No. 1 to the Fourth Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein, on October 1, 2024. The original credit agreement was dated January 3, 2023.

1. 01

   PTC said it and its subsidiary PTC (IFSC) Limited entered into Amendment No. 1 to the Fourth Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein, on October 1, 2024. The original credit agreement was dated January 3, 2023.

2. 02

   The company said the amendment adds a condition under which the Springing Maturity Date will not occur on November 16, 2024. That condition is that PTC's Available Liquidity on that date is $600,000,000 or more.

3. 03

   The company described the Springing Maturity Date as the date on which all amounts outstanding under the credit agreement would accelerate and become due if the 2025 Senior Notes due February 15, 2025 remain outstanding.

4. 04

   The company said the amendment adds a definition of Available Liquidity, which it said is the sum of cash and Cash Equivalent Investments, readily-marketable securities, and Available Revolving Commitments under the credit agreement.

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