Entry into a Material Definitive Agreement


 


On August 17, 2021 Avalon Holdings Corporation and certain wholly-owned subsidiaries entered into a Change in Term Agreement with Premier Bank (the “Lender”) which amended its existing Business Loan and Promissory Note Agreements (collectively the “Line of Credit Agreement”) dated May 31, 2018, as previously amended on August 5, 2020. The Change in Terms Agreement extends the maturity date of the Line of Credit Agreement from July 31, 2022 to July 31, 2023.


 


The forgoing description of the Change in Terms Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Change in Terms Agreement, which is filed with this report as Exhibit 10.1 and is incorporated herein by reference.


 


T he other material terms of the Line of Credit Agreement, dated May 31, 2018, and amendment on August 5, 2020, with the Lender are described in the Current Reports on Form 8-K filed with the Securities and Exchange Commission on May 31, 2018 and August 6, 2020, respectively, of which are incorporated herein by reference.


 


 


ITEM 9.01 Financial Statements and Exhibits


 




 


10.1


Change in Terms Agreement, dated as of August 17, 2021 between Avalon Holdings Corporation and certain wholly-owned subsidiaries, as borrowers, and Premier Bank, as lender.




 


 


 




 


104


Cover Page Interactive Data File (embedded within the Inline XBRL document)




 


 


 


SIGNATURES


 


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 


 








AVALON HOLDINGS CORPORATION








 


(Registrant)


 



















DATED:         August 18, 2021



 



/s/ 

Bryan P. Saksa












By:




Bryan P. Saksa















Chief Financial Officer and Treasurer








 





 







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