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MGAM > SEC Filings for MGAM > Form 8-K on 24-Sep-2012All Recent SEC Filings

Show all filings for MULTIMEDIA GAMES HOLDING COMPANY, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MULTIMEDIA GAMES HOLDING COMPANY, INC.


24-Sep-2012

Entry into a Material Definitive Agreement, Creation of a


Item 1.01 Entry into a Material Definitive Agreement.

On September 21, 2012, Multimedia Games, Inc., a Delaware corporation, and MGAM Systems, Inc., a Delaware corporation (the "Borrowers"), direct, wholly-owned subsidiaries of Multimedia Games Holding Company, Inc., and the lenders party thereto, Comerica Bank, as administrative agent and lead arranger ("Comerica"), and Wells Fargo Bank, N.A., as syndication agent ("Wells Fargo"), entered into Amendment No. 1 ("Amendment No. 1") to Amended and Restated Credit Agreement (the "Credit Agreement") by and among Borrowers, the financial institutions who are party thereto, Comerica, and Wells Fargo, dated as of August 3, 2011.

Amendment No. 1 amends the Credit Agreement by providing that (i) letters of credit under the Credit Agreement shall be discretionary (previously committed);
(ii) the limitation on debt to finance acquisitions and capital asset purchases is increased to $1,000,000 (previously $500,000); (iii) limitations on capital expenditures is increased to $60 million, with no carryover (previously $40 million with a carryover for any unused amount into the succeeding year); and
(iv) the applicable margin grid is amended for a margin reduction of 25 basis points at both levels. In addition, certain provisions of the Amended and Restated Security Agreement, by and among Borrowers and Comerica, dated as of August 3, 2011, are amended in order to provide for certain provisions required pursuant to Nevada gaming laws and regulations.

The foregoing description of Amendment No. 1 does not purport to be complete and is qualified in its entirety by reference to the full text of Amendment No. 1 which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated into this report by reference.



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

The disclosure required by this item is included in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.   Description
10.1          Amendment No.1 to Amended and Restated Credit Agreement by and among
              Multimedia Games, Inc., MGAM Systems, Inc., Comerica Bank, in its
              capacity as administrative agent and lead arranger, and Wells Fargo
              Bank, N.A., as syndication agent, dated as of September 21, 2012.
10.2          Amendment No. 1 to Amended and Restated Security Agreement by and
              among Multimedia Games, Inc., MGAM Systems, Inc., and Comerica Bank,
              dated as of September 21, 2012.


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