Tesla - Current Report
Warehouse limit increased
Item 1.01. Entry into a Material Definitive Agreement.
On October 18, 2017, certain subsidiaries of Tesla, Inc. (“ Tesla ”) that are respectively parties to (i) an Amended and Restated Loan and Security Agreement (the “ A&R 2016 Warehouse Agreement ”) and (ii) a Loan and Security Agreement (the “ 2017 Warehouse Agreement ,” and together with the A&R 2016 Warehouse Agreement, the “ Warehouse Agreements ”), each dated August 17, 2017 with Deutsche Bank AG, New York Branch as administrative agent and the other parties named therein, entered into an amendment to each of the Warehouse Agreements (together, the “ Amendments ”).
The Amendments increased the shared aggregate lender commitments across the Warehouse Agreements from $600 million to $1.1 billion and added additional lenders, among other things. As a result, the commitments under the A&R 2016 Warehouse Agreement and the 2017 Warehouse Agreement were $511,125,806 and $588,874,194, respectively, as of October 18, 2017. The Warehouse Agreements provide that the lender commitment under the A&R 2016 Warehouse Agreement may from time to time be reduced and reallocated to the 2017 Warehouse Agreement in a corresponding amount.