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| VRTS > SEC Filings for VRTS > Form 8-K on 6-Apr-2009 | All Recent SEC Filings |
6-Apr-2009
Entry into a Material Definitive Agreement, Financial Statements
On March 31, 2009, Virtus Investment Partners, Inc. (the "Company") entered into a Second Amendment to Loan Agreement (the "Second Amendment") with Phoenix Life Insurance Company ("Phoenix"), which amends that certain Loan Agreement, dated as of December 31, 2008, by and between Phoenix and the Company, as amended by that certain First Amendment, dated as of January 16, 2009 (collectively, the "Loan Agreement"). The Second Amendment is effective as of December 31, 2008.
The Second Amendment amended the Company's financial covenant set forth in the Loan Agreement such that the Company must maintain a minimum net worth of $50,000,000, plus 50% of net income for each fiscal quarter (without deducting for any net losses) and 75% of all future equity contributions.
The foregoing disclosure of the Second Amendment is qualified in its entirety by reference to the full text of the Second Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
(d) Exhibits.
10.1 Second Amendment to Loan Agreement, dated as of March 31, 2009, by and between Virtus Investment Partners, Inc. and Phoenix Life Insurance Company
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