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Installed Building strikes dead hand terms from facility via KeyBank
By Susanna Moon
Chicago, Oct. 22 – Installed Building Products, Inc. amended its loan terms with KeyBank NA administrative agent to remove the “dead hand proxy put” language, according to an 8-K filing with the Securities and Exchange Commission.
The amendment changes the definition of change in control under the credit agreement.
Under the credit agreement, the occurrence of a change of control constitutes an event of default allowing lenders to terminate the commitment and accelerate the maturity of the debt.
The credit agreement is dated July 8, 2014.
The company installs insulation and other building products for residential construction and is based in Columbus, Ohio.
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