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CASC > SEC Filings for CASC > Form 8-K on 3-Aug-2009All Recent SEC Filings

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Form 8-K for CASCADE CORP


3-Aug-2009

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01. Entry into a Material Definitive Agreement.

On July 29, 2009, we entered into an amendment of our loan agreement with Bank of America, N.A. and Union Bank of California, N.A. The amendment decreases the aggregate amount that may be borrowed under the loan agreement from $143.75 million to $115 million but provides that we may increase the amount that may be borrowed by up to $30 million subject to the agreement of the lenders. The amendment to the loan agreement grants the lenders a security interest in all of our assets, provides for the guaranty of the loan and the grant of a security interest to secure the guaranty by certain of our subsidiaries, increases the interest rate on the loan to rates ranging from 1.5% to 3.0% over LIBOR depending on our consolidated leverage ratio, and modifies certain loan covenants, including the consolidated interest coverage ratio and consolidated fixed charge coverage ratio, that we are required to maintain. The amendment to the loan agreement, which includes as exhibits the forms of guaranty and security agreement executed by certain of our subsidiaries, is attached as Exhibit 10.1 to this Form 8-K. The security agreement executed by us in connection with the amendment to the loan agreement is attached as Exhibit 10.2 to this Form 8-K.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. The following exhibits are included with this report:

10.1    Sixth Amendment to Loan Agreement by and among Cascade Corporation, Bank
        of America, N.A. and Union Bank of California, N.A., as lenders, and Bank
        of America, N.A., as agent.

10.2    Security Agreement between Cascade Corporation and Bank of America, N.A.,
        as agent.


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