TER 8-K

Teradyne, Inc (TER)

8-K 2026-08-10 For: 2026-08-07

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Added on August 10, 2026

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Massachusetts	001-06462	04-2272148
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)



600 Riverpark Drive, North Reading, MA		01864
(Address of Principal Executive Offices)		(Zip Code)


¨		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Article I. DEFINITIONS; CONSTRUCTION		1
Section 1.1	Definitions	1
Section 1.2	Classifications of Loans and Borrowings	38
Section 1.3	Accounting Terms and Determination	38
Section 1.4	Terms Generally	39
Section 1.5	Divisions	39
Section 1.6	Rates	39
Section 1.7	Leverage Calculations	40
Section 1.8.	Times of Day	40
Section 1.9.	Letter of Credit Amounts	40
Section 1.10	Investment Grade Suspension Period	40
Article II. AMOUNT AND TERMS OF THE COMMITMENTS		41
Section 2.1	General Description of Facilities	41
Section 2.2	Revolving Loans	42
Section 2.3	Procedure for Revolving Borrowings	42
Section 2.4	Swingline Commitment	42
Section 2.5	[Reserved].	44
Section 2.6	Funding of Borrowings	44
Section 2.7	Interest Elections	44
Section 2.8	Optional Reduction and Termination of Commitments	45
Section 2.9	Repayment of Loans	46
Section 2.10	Evidence of Indebtedness	46
Section 2.11	Optional Prepayments	46
Section 2.12	Mandatory Prepayments	47
Section 2.13	Interest on Loans	47
Section 2.14	Fees	48
Section 2.15	Computation of Interest and Fees	49
Section 2.16	Inability to Determine Interest Rates; Benchmark Replacement Setting	49
Section 2.17	Illegality	51
Section 2.18	Increased Costs	51
Section 2.19	Funding Indemnity	52
Section 2.20	Taxes	53
Section 2.21	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	56
Section 2.22	Letters of Credit	58
Section 2.23	Incremental Facility.	65
Section 2.24	Mitigation of Obligations	66
Section 2.25	Replacement of Lenders	66
Section 2.26	Defaulting Lenders	67
Section 2.27	Extension Offers	70
Section 2.28	Judgment Currency	71


Article III. CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT		72
Section 3.1	Conditions to Effectiveness	72
Section 3.2	Conditions to Each Credit Event	74
Section 3.3	Delivery of Documents	74
Article IV. REPRESENTATIONS AND WARRANTIES		74
Section 4.1	No Change	74
Section 4.2	Existence; Compliance With Law	74
Section 4.3	Power; Authorization; Enforceable Obligations	75
Section 4.4	No Legal Bar	75
Section 4.5	Litigation	75
Section 4.6	No Default	75
Section 4.7	Ownership of Property; Liens	75
Section 4.8	Intellectual Property	76
Section 4.9	Taxes	76
Section 4.10	Margin Regulations	76
Section 4.11	Labor Matters	76
Section 4.12	ERISA	76
Section 4.13	Investment Company Act	77
Section 4.14	Subsidiaries	77
Section 4.15	Use of Proceeds	77
Section 4.16	Environmental Matters	77
Section 4.17	Accuracy of Information, Etc	78
Section 4.18	Financial Statements	78
Section 4.19	Insurance	78
Section 4.20	Security Documents	78
Section 4.21	Solvency	79
Section 4.22	Sanctions and Anti-Corruption Laws	79
Section 4.23	Affected Financial Institutions	79
Article V. AFFIRMATIVE COVENANTS		80
Section 5.1	Financial Statements	80
Section 5.2	Certificates; Other Information	81
Section 5.3	Payment of Obligations	82
Section 5.4	Maintenance of Existence; Compliance with Laws	83
Section 5.5	Maintenance of Property; Insurance	83
Section 5.6	Inspection of Property; Books and Records; Discussions	83
Section 5.7	Notices	84
Section 5.8	Environmental Laws	84
Section 5.9	Additional Collateral, etc	84
Section 5.10	Designation of Subsidiaries	86
Section 5.11	Anti-Corruption Laws and Sanctions	87
Section 5.12	Margin Regulations	87
Section 5.13	Post-Closing Obligations.	87
Article VI. FINANCIAL COVENANTS		87


Section 6.1	Consolidated Leverage Ratio	87
Section 6.2	Interest Coverage Ratio	88
Article VII. NEGATIVE COVENANTS		88
Section 7.1	Indebtedness	88
Section 7.2	Liens	91
Section 7.3	Fundamental Changes	93
Section 7.4	Disposition of Property	94
Section 7.5	Restricted Payments	95
Section 7.6	Investments	96
Section 7.7	Transactions with Affiliates	97
Section 7.8	Swap Agreements	98
Section 7.9	Accounting Changes	98
Section 7.10	Negative Pledge Clauses	98
Section 7.11	Clauses Restricting Subsidiary Distributions	98
Section 7.12	Lines of Business	99
Section 7.13	Use of Proceeds	99
Article VIII. EVENTS OF DEFAULT		100
Section 8.1	Events of Default	100
Section 8.2	Application of Proceeds from Collateral	102
Article IX. THE ADMINISTRATIVE AGENT		103
Section 9.1	Appointment of the Administrative Agent	103
Section 9.2	Nature of Duties of the Administrative Agent	104
Section 9.3	Lack of Reliance on the Administrative Agent	105
Section 9.4	Certain Rights of the Administrative Agent	105
Section 9.5	Reliance by the Administrative Agent	105
Section 9.6	The Administrative Agent in its Individual Capacity	105
Section 9.7	Successor Administrative Agent	106
Section 9.8	Withholding Tax	106
Section 9.9	The Administrative Agent May File Proofs of Claim	107
Section 9.10	Authorization to Execute Other Loan Documents	107
Section 9.11	Collateral and Guaranty Matters	107
Section 9.12	Arrangers, Co-Syndication Agents	108
Section 9.13	Right to Realize on Collateral and Enforce Guarantee	108
Section 9.14	Secured Bank Product Obligations and Hedging Obligations	109
Section 9.15	Erroneous Payments.	109
Section 9.16	No Reliance on Administrative Agent’s Customer Identification Program	111
Article X. MISCELLANEOUS		112
Section 10.1	Notices	112
Section 10.2	Waiver; Amendments	115
Section 10.3	Expenses; Indemnification	119
Section 10.4	Successors and Assigns	121
Section 10.5	Governing Law; Jurisdiction; Consent to Service of Process	125


Section 10.6	WAIVER OF JURY TRIAL	125
Section 10.7	Right of Set-off	126
Section 10.8	Counterparts; Integration	126
Section 10.9	Survival	126
Section 10.10	Severability	127
Section 10.11	Confidentiality	127
Section 10.12	Interest Rate Limitation	128
Section 10.13	Waiver of Effect of Corporate Seal	128
Section 10.14	Patriot Act	128
Section 10.15	No Advisory or Fiduciary Responsibility	128
Section 10.16	Location of Closing	129
Section 10.17	Electronic Signatures	129
Section 10.18	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	129
Section 10.19	Certain ERISA Matters	129
Section 10.20	Acknowledgement Regarding Any Supported QFCs	130


Schedule I	-	Applicable Margin and Applicable Percentage
Schedule II	-	Commitment Amounts

Schedule 1.1(a)	-	Excluded Real Property
Schedule 1.1(b)	-	Immaterial Subsidiaries
Schedule 1.1(c)	-	Unrestricted Subsidiaries
Schedule 4.3	-	Consents, Authorizations, Filings, and Notices
Schedule 4.14	-	Subsidiaries
Schedule 4.20(a)	-	Filing Offices
Schedule 5.13	-	Post-Closing Obligations
Schedule 7.1(d)	-	Existing Indebtedness
Schedule 7.2(f)	-	Existing Liens
Schedule 7.12	-	Lines of Business


Exhibit A	-	Form of Assignment and Acceptance
Exhibit B		Form of Compliance Certificate
Exhibit C	-	Form of Guarantee and Collateral Agreement
Exhibit D	-	Form of Notice of Revolving Borrowing
Exhibit E	-	Form of Notice of Swingline Borrowing
Exhibit F	-	Form of Notice of Conversion/Continuation
Exhibits G-1 – G-4	-	Tax Certificates


Leverage-Based Pricing Grid
Pricing Level	Consolidated Leverage Ratio	Applicable Margin for SOFR Loans	Applicable Margin for Base Rate Loans	Applicable Percentage for Commitment Fee	Applicable Percentage for Letter of Credit Fees
I	Greater than 3.00:1.00	1.75% per annum	0.75% per annum	0.225% per annum	1.75% per annum
II	Less than or equal to 3.00:1.00 but greater than 2.00:1.00	1.50% per annum	0.50% per annum	0.175% per annum	1.50% per annum
III	Less than or equal to 2.00:1.00 but greater than 1.00:1.00	1.25% per annum	0.25% per annum	0.15% per annum	1.25% per annum
IV	Less than or equal to 1.00:1.00	1.00% per annum	0.00% per annum	0.125% per annum	1.00% per annum


	Leverage and Debt Ratings-Based Pricing Grid
Pricing Level	Consolidated Leverage Ratio	Debt Rating	Applicable Margin for SOFR Loans	Applicable Margin for Base Rate Loans	Applicable Percentage for Commitment Fee	Applicable Percentage for Letter of Credit Fees
I	Greater than 3.00:1.00	BB+/Ba1 or worse	1.50% per annum	0.50% per annum	0.20% per annum	1.50% per annum
II	Less than or equal to 3.00:1.00 but greater than 2.00:1.00	BBB-/Baa3	1.25% per annum	0.25% per annum	0.15% per annum	1.25% per annum
III	Less than or equal to 2.00:1.00 but greater than 1.00:1.00	BBB/Baa2	1.125% per annum	0.125% per annum	0.125% per annum	1.125% per annum
IV	Less than or equal to 1.00:1.00	BBB+/Baa1 or better	1.00% per annum	0.00% per annum	0.10% per annum	1.00% per annum