Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
AXR > SEC Filings for AXR > Form 8-K on 3-Jan-2013All Recent SEC Filings

Show all filings for AMREP CORP. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for AMREP CORP.


3-Jan-2013

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet


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

On December 31, 2012, the parties entered into the Second Amendment and Joinder (the "Second Amendment") to the Revolving Credit and Security Agreement dated as of May 13, 2010 between the Company's Media Services companies and the lender (the "Credit Facility").

The Second Amendment joins a newly organized, wholly-owned, indirect subsidiary of the Company (the "New Borrower") as a borrower party to the Credit Facility. The New Borrower was organized for the purpose of purchasing certain assets (the "Acquisition") of FulCircle, Inc., a Denver, Colorado-based, privately-held company engaged in the marketing strategy, call center service, product distribution and operational solutions businesses. The Acquisition closed on December 31, 2012.

The Second Amendment contains the lender's consent to the Acquisition along with a number of additional terms to the Credit Facility, including terms specifying an interim ceiling on the collateral value of the New Borrower's accounts receivable and the treatment for borrowing availability and Fixed Charge Coverage Ratio calculation purposes of a contingent additional purchase price payment for the Acquisition.

The foregoing description of the Second Amendment is qualified by reference to the complete Second Amendment, a copy of which is included as Exhibit 10.1 to this Current Report.



Item 9.01 Financial Statements and Exhibits.

Exhibit No.                       Description

    10.1     Second Amendment and Joinder dated as of December 31,
             2012 to the Revolving Credit and Security Agreement
             dated as of May 13, 2010, among Kable Media Services,
             Inc., et al and PNC Bank, National Association, as
             Agent and Lender.

  Add AXR to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for AXR - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2013 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.