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IM > SEC Filings for IM > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for INGRAM MICRO INC



Entry into a Material Definitive Agreement, Creation of a Direct Financial Oblig

Item 1.01. Entry into a Material Definitive Agreement.

On November 1, 2012, Ingram Micro Inc. ("Ingram Micro") and Ingram Funding Inc. ("Ingram Funding"), a wholly-owned subsidiary of Ingram Micro, entered into an amendment (the "Amendment") to Ingram Micro's U.S. revolving trade account receivable-backed financing program (the "U.S. Receivables Program") to extend the maturity date of the U.S. Receivables Program to November 1, 2015, and to make additional changes to the U.S. Receivables Program, including:
(a) increasing the program limit to $675,000,000; (b) permitting future increases in the program limit up to a maximum of $900,000,000, subject to consent by the administrative agent and one or more existing purchasers or new purchasers participating in the program; (c) amending certain fees payable to the administrative agent and purchasers in connection therewith; (d) permitting the inclusion of foreign obligor receivables; (e) designating certain special obligors (with specified concentration limits) and excluded receivables;
(f) adjusting the terms of the dilution reserve applicable to the receivables pool; (g) appointing The Bank of Nova Scotia as the replacement administrative agent; and (h) adding certain financial institutions as new purchasers under the U.S. Receivables Program.

The terms of the Amendment are documented pursuant to an Omnibus Amendment No. 2 to Receivables Purchase Agreement and Receivables Sale Agreement included as an exhibit to this report, and pursuant to related ancillary documents thereto. Ingram Micro is paying customary fees in connection with its entering into the Amendment. The foregoing description is qualified in its entirety by reference to the Omnibus Amendment No. 2, a copy of which is filed as Exhibit 10.1 to this report and incorporated herein by reference.

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

The information set forth in Item 1.01 is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.       Description

10.1              Omnibus Amendment No. 2 dated November 1, 2012 among Ingram Micro
                  Inc., Ingram Funding Inc., BNP Paribas, the various Purchaser
                  Groups from time to time party thereto and The Bank of Nova

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