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Quotes & Info
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| ADPI > SEC Filings for ADPI > Form 8-K on 28-Oct-2008 | All Recent SEC Filings |
28-Oct-2008
Entry into a Material Definitive Agreement, Results of Operations an
On October 24, 2008, American Dental Partners, Inc. (the "Company") and its subsidiary guarantors entered into Amendment No. 7 to Amended and Restated Credit Agreement (the "Amended Credit Agreement") with the lending institutions (the "Lenders") party to the credit agreement dated February 22, 2005, as amended (the "Credit Agreement") and KeyBank National Association, as lender and as administrative agent. Capitalized terms used herein and not otherwise defined shall have the meaning attributed to them in the Credit Agreement.
On October 24, 2008, the Company and its subsidiary guarantors entered into Amendment No. 3 to Term Loan Agreement (the "Amended Term Loan Agreement") with the lending institutions party to the term loan agreement dated September 25, 2007 (the "Term Loan Agreement") and KBCM Bridge LLC, as lender and as administrative agent.
The Amended Credit Agreement and Amended Term Loan Agreement extend the maturity of the facilities from July 20, 2009 to January 20, 2010. Pursuant to the Amended Credit Agreement, at current leverage levels, the Company will borrow under the Amended Credit Agreement at the Eurodollar rate plus 450 basis points. Pursuant to the Amended Term Loan Agreement effective October 24, 2008, the Applicable Margin shall be 450 basis points, and commencing on March 1, 2009 and each 90th day thereafter, the Applicable Margin shall be increased 50 basis points over the Applicable Margin then in effect.
Copies of each of the Amended Credit Agreement and Amended Term Loan Agreement are filed herewith as Exhibits 10.1 and 10.2 and are incorporated herein by reference.
On October 27, 2008, the Company issued a press release regarding results for the quarter and nine-month period ended September 30, 2008. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
(c) Exhibits
10.1 Amendment No. 7 to Amended and Restated Credit Agreement among American
Dental Partners, Inc., its subsidiary guarantors and the lending
institutions party to the credit agreement dated February 22, 2005, as
amended and KeyBank National Association, as lender and as administrative
agent, dated October 24, 2008.
10.2 Amendment No. 3 to Term Loan Agreement among American Dental Partners,
Inc., its subsidiary guarantors, the lending institutions party to the
Term Loan Agreement and KBCM Bridge LLC, as lender and as administrative
agent, dated October 24, 2008.
99.1 Press release dated October 27, 2008 regarding results for the quarter and
nine-month period ended September 30, 2008.
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