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MODL > SEC Filings for MODL > Form 8-K on 17-Aug-2012All Recent SEC Filings

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Form 8-K for MMODAL INC.


17-Aug-2012

Termination of a Material Definitive Agreement


Item 1.02. Termination of a Material Definitive Agreement.

1. Credit Agreement

On August 17, 2012, immediately prior to the Effective Time, the Company paid an aggregate amount of approximately $171.4 million (including outstanding borrowings, accrued interest and legal fees) in satisfaction of all of its outstanding obligations under that certain Credit Agreement dated October 1, 2010 (as amended, the "Existing Credit Agreement"), among the Company, the guarantors party thereto, the lenders party thereto (the "Lenders"), the L/C issuers party thereto (the "L/C Issuers") and General Electric Capital Corporation, as administrative agent and collateral agent for the Lenders and the L/C Issuers, and terminated the Existing Credit Agreement. Such amount did not include any material prepayment penalties or break fees.

2. Senior Subordinated Notes due 2016

On August 17, 2012, immediately prior to the Effective Time, the Company paid an aggregate amount of approximately $99.8 million in satisfaction of all of its outstanding obligations under that certain Note Purchase Agreement dated September 30, 2010 (as amended, the "Note Purchase Agreement"), among the Company, the issuers party thereto the guarantors party thereto and the purchasers party thereto and terminated the Note Purchase Agreement. Such amount includes approximately $14.8 million of prepayment penalties and accrued but unpaid interest.


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