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| DCAI > SEC Filings for DCAI > Form 8-K on 27-Feb-2009 | All Recent SEC Filings |
27-Feb-2009
Entry into a Material Definitive Agreement, Financial Statements and Exh
On February 27, 2009, Dialysis Corporation of America (the "Company") entered into Amendment No. 6 to its secured revolving credit facility (the "Credit Agreement") with KeyBank National Association ("KeyBank"), which Credit Agreement was originally entered into between the Company and KeyBank on October 24, 2005 and which currently provides the Company with borrowing under the credit facility of up to $25,000,000 by means of any combination of base rate loans and/or LIBOR loans. Amendment No. 6 to the Credit Agreement provides the Company with the ability to engage in repurchases of its capital stock up to an aggregate amount of $3 million without being in violation of the restrictive covenants of the Credit Agreement, provided that the Company is not then in default of the Credit Agreement and that it will continue to be in compliance with the financial covenants of the Credit Agreement after giving effect to a stock repurchase.
The proceeds of the Credit Agreement have been and are intended to continue to be used for development and acquisition of new dialysis centers, working capital needs, and for other general corporate purposes.
The description provided above summarizes the Amendment No. 6 to the Credit Agreement, a copy of which is attached as an exhibit to this Current Report on Form 8-K.
(d) Exhibits
(10) Material Contracts
(i) Amendment No. 6 to the Credit Agreement between the Company and KeyBank National Association dated February 27, 2009
(ii) Guarantor Acknowledgement and Agreement dated February 27, 2009
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