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| EDMC > SEC Filings for EDMC > Form 8-K on 29-Jan-2013 | All Recent SEC Filings |
29-Jan-2013
Entry into a Material Definitive Agreement, Creation of a Direct
On January 29, 2013, Education Management LLC (the "Borrower") and Education Management Holdings LLC ("Holdings"), each a subsidiary of Education Management Corporation, entered into Amendment No. 1 (the "Amendment") to the Letter of Credit Facility Agreement (the "Facility"), dated November 30, 2011, among the Borrower, Holdings, certain subsidiaries of Holdings and Bank of America, N.A., as Administrative Agent, Collateral Agent, Issuing Bank and a Lender thereunder. The purpose of the Amendment is to extend the maturity date of the Facility to the earlier of July 8, 2014 or the date of any early termination of the revolving commitments otherwise scheduled to mature in 2015 under the Borrower's existing Second Amended and Restated Credit and Guarantee Agreement, dated as of December 7, 2010, by and among the Borrower, BNP Paribas, as Administrative and Collateral Agent, and certain other parties thereto, as amended.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
On January 24, 2013, The New England Institute of Art received a civil
investigative demand from the Commonwealth of Massachusetts Attorney General
requesting information for the period from January 1, 2010 to the present
pursuant to an investigation regarding practices by the school in connection
with marketing and advertising job placement and student outcome, the
recruitment of students and the financing of education.
The information included in this Form 8-K shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), nor shall it be deemed to be incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such a filing.
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