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Quotes & Info
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| PRIM > SEC Filings for PRIM > Form 8-K on 18-Dec-2012 | All Recent SEC Filings |
18-Dec-2012
Creation of a Direct Financial Obligation or an Obligation under an Off-Ba
Loan Agreement with RBS Asset Finance, Inc.
On December 13, 2012, Stellaris, LLC and Q3 Contracting, Inc., wholly owned subsidiaries of the Company (the "Borrower"), entered into a Loan Agreement (the "Agreement") with RBS Asset Finance, Inc. (the "Lender") for the financing of equipment pursuant to one or more equipment notes. In connection with the Agreement, we entered into a Note (the "Note"), dated December 13, 2012, with the Lender for the total aggregate amount of $12.0 million, whereby $11.65 million was funded on December 13, 2012. The Note is secured by certain construction and automotive equipment outlined in Collateral Schedule No. 1 of the Note. The Note is payable in equal monthly installments over a seven year period. The principal amount of the Note bears interest at 2.05% per annum and may be prepaid, subject to certain prepayment breakage fees during the first three years. In connection with the transaction, the Company entered into a Guaranty Agreement (the "Guaranty Agreement"), dated December 13, 2012 with the Lender, whereby the Company has agreed to be obligated for all amounts borrowed under the Agreement and the Note. A copy of the agreements are attached to this Current Report on Form 8-K.
(d) Exhibits .
Exh. No. Description
10.1 Loan Agreement, dated December 13, 2012, by and between Stellaris, LLC
and Q3 Contracting, Inc. and RBS Asset Finance, Inc.
10.2 Note, dated December 13, 2012, by and among Stellaris, LLC and Q3
Contracting, Inc. and RBS Asset Finance, Inc.
10.3 Guaranty, dated December 13, 2012, by and among Primoris Services
Corporation and RBS Asset Finance, Inc.
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