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POOL > SEC Filings for POOL > Form 8-K on 19-May-2009All Recent SEC Filings

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Form 8-K for POOL CORP


19-May-2009

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation o


Item 1.01 Entry into a Material Definitive Agreement.

On May 19, 2009, SCP Distributors LLC, and Superior Commerce LLC entered into Amendment No. 14 to the Receivables Purchase Agreement among JPMorgan Chase Bank, N.A. f/k/a Bank One, NA (Main Office Chicago) and JS Siloed Trust. The amendment amends certain terms of the existing Receivables Purchase Agreement, including the following: extending the maturity date to August 19, 2009; increasing required reserves used in calculating the available funding amount; and loosening the delinquency and default trigger ratios. In addition the Company has reduced the size of the facility from $75.0 million to $25.0 million. Due to the Company's declining debt levels as a result of its cashflow generation strategies, the Company does not at this time intend to renew the Receivables Facility.

The description of the amendment set forth above is qualified by reference to the amendment, which is filed as Exhibit 10.1 hereto.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

The information provided in Item 1.01 above is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1 Amendment No. 14 to Receivables Purchase Agreement dated as of May 19, 2009, among SCP Distributors LLC, Superior Commerce LLC, JS Siloed Trust, and JPMorgan Chase Bank, N.A. f/k/a Bank One, NA (Main Office Chicago).

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