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MSPD > SEC Filings for MSPD > Form 8-K on 13-Mar-2013All Recent SEC Filings

Show all filings for MINDSPEED TECHNOLOGIES, INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MINDSPEED TECHNOLOGIES, INC


13-Mar-2013

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement

Amendment to Loan and Security Agreement with Silicon Valley Bank

On March 8, 2013, Mindspeed Technologies, Inc. (the "Company") entered into an Amendment No. 2 to Loan and Security Agreement (the "Amendment") with Silicon Valley Bank. The Amendment amends that certain Loan and Security Agreement, dated as of February 6, 2012, by and between the Company and Silicon Valley Bank, as amended by a First Amendment to Loan and Security Agreement, dated as of June 11, 2012 (as amended, the "Loan Agreement").

The Amendment modifies the financial covenants contained in the Loan Agreement as originally executed. In particular, the requirements relating to the Company's obligation to maintain a minimum level of adjusted EBITDA and to comply with a fixed charge coverage ratio have been adjusted. The Company paid customary fees to Silicon Valley Bank in connection with the Amendment.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which will be filed with the Company's Quarterly Report on Form 10-Q for the quarter ending March 29, 2013.

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