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VPHM > SEC Filings for VPHM > Form 8-K on 19-Mar-2013All Recent SEC Filings

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Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.

In September 2011, ViroPharma Incorporated, a Delaware corporation (the "Company"), entered into a $200 million, three-year senior secured revolving credit facility (the "Credit Facility"), the terms of which are set forth in a Credit Agreement dated as of September 9, 2011 with JPMorgan Chase Bank, N.A., as administrative agent (the "Administrative Agent"), BMO Harris Financing Inc., TD Bank, N.A. and Morgan Stanley Bank, NA as co-syndication agents and certain other lenders (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement"). The Credit Facility is available for working capital and general corporate purposes, including acquisitions which comply with the terms of the Credit Agreement. As of the date of this filing, the Company has not drawn any amounts under the Credit Facility.

On March 13, 2013, the Company entered into Amendment No. 3 to the Credit Agreement (the "Amendment"). Pursuant to the Amendment, the parties agreed to waive compliance with a specified financial covenant (the "Financial Covenant") until the Company notifies the lenders that it is compliance with the Financial Covenant. During this period, non-compliance with the Financial Covenant shall not result in a default or event of default under the Credit Agreement. Additionally, the Company shall not be permitted to request advances of funds or letters of credit under the Credit Facility and the lenders shall have no obligation to fund any Borrowing or to make any Loan or any other extension of credit to the Company under the Credit Agreement during this period. Capitalized terms contained in this 8-K which are not otherwise defined have the meanings ascribed to them in the Credit Facility.

The Company intends to file a copy of the Amendment as an exhibit to the Company's quarterly report on Form 10-Q for the first quarter of 2013.

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