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| HDSN > SEC Filings for HDSN > Form 8-K on 21-Jul-2009 | All Recent SEC Filings |
21-Jul-2009
Entry into a Material Definitive Agreement, Results of Operations and
On July 15, 2009, Hudson Technologies, Inc. (the "Registrant"), through its subsidiary company Hudson Technologies Company ("HTC"), entered into a Fourth Amendment to the Amended and Restated Loan Agreement (the "Amendment") with Keltic Financial Partners, LP ("Keltic") and Bridge Healthcare Finance, LLC ("Bridge"), which extended through September 15, 2009 the temporary increase to $17,000,000 in HTC's existing credit facility with Keltic and Bridge (the "Facility") that was put in place on March 20, 2009 pursuant to the Third Amendment to the Amended and Restated Loan Agreement with Keltic and Bridge. Effective as of the close of business on September 15, 2009, the maximum borrowings under the Facility will return to $15,000,000. The Facility bears interest at a rate equal to the greater of the prime rate plus 0.875% or 6.5%. As of July 15, 2009 the Facility bore interest at 6.5%. At July 15, 2009, the total borrowings under the Facility were approximately $11,500,000.
On July 15, 2009, the Registrant, through HTC entered into a Waiver to Loan Agreement with respect to the Facility which, among other things, waived HTC's failure to achieve minimum EBITDA for the fiscal quarter ending June 30, 2009 as required under the Amended and Restated Loan Agreement between HTC, Keltic and Bridge, dated as of June 27, 2007, as amended.
On July 16, 2009 the Registrant issued a press release announcing its preliminary unaudited financial results for the fiscal quarter and three months ended June 30, 2009.
The information provided in the first paragraph of Item 1.01 of this Form 8-K is hereby incorporated into this Item 2.03.
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