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INFS > SEC Filings for INFS > Form 8-K on 2-Sep-2008All Recent SEC Filings

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Form 8-K for INFOCUS CORP


2-Sep-2008

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry Into A Material Definitive Agreement

On August 29, 2008, InFocus Corporation, an Oregon corporation (the "Company"), and Wells Fargo Bank, National Association ("Wells Fargo"), as the successor to Wells Fargo Foothill, Inc. as administrative agent under the Credit Agreement referred to herein, entered into a Fourteenth Amendment to Credit Agreement (the "Fourteenth Amendment") in respect of that certain Credit Agreement dated October 25, 2004 between InFocus, Wells Fargo, and the lenders party thereto (the "Credit Agreement"). The Fourteenth Amendment extended the maturity date of the Credit Agreement to August 31, 2009. In addition, the Fourteenth Amendment permits the Company, during such times as undrawn availability under the Credit Agreement and cash on hand are at least $25 million, and subject to certain other limitations, to expend up to $8 million for repurchases of its common stock pursuant to the Company's previously announced share repurchase program. The Fourteenth Amendment also modifies the Company's minimum EBITDA covenant in certain respects.

There were no borrowings outstanding under the Credit Agreement as of the date of the Fourteenth Amendment.

The foregoing description of the Fourteenth Amendment is a summary only and is qualified in its entirety by reference to the full text of the Fourteenth Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit is furnished herewith and this list is intended to constitute the exhibit index:

10.1 Fourteenth Amendment to Credit Agreement dated August 29, 2008 between InFocus Corporation and Wells Fargo Bank, National Association.


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