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LOJN > SEC Filings for LOJN > Form 8-K on 1-Apr-2013All Recent SEC Filings

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Form 8-K for LOJACK CORP


1-Apr-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 March 29, 2013, LoJack Corporation (the "Company") entered into a third amendment (the "Amendment") to its Multicurrency Revolving Credit Agreement, dated as of December 29, 2009 (the "Credit Agreement"), by and among the Company, the Borrowers and Guarantors listed therein, the Lenders listed therein, and RBS Citizens, National Association, as Administrative Agent. The Amendment provides for: (i) an extension of the maturity date for revolving credit loans under the Credit Agreement from January 10, 2014 to July 31, 2015 (the "Maturity Date"); (ii) a modification to the stock repurchase covenant providing for stock repurchases of up to $5 million for the period commencing on the date of the Amendment through the Maturity Date; (iii) a restriction on the payment by the Company of dividends or other distributions with respect to Company stock for the remainder of calendar year 2013, except with the required consent of the Lenders; and (iv) modifications to certain financial covenants set forth in the Credit Agreement, including the Debt Service Coverage and Funded Debt to EBITDA ratios, and the addition of a Minimum Consolidated EBITDA covenant through September 30, 2013.
The foregoing description is qualified in its entirety by reference to the text of the Amendment which is filed as Exhibit 10.4 to this Current Report on Form 8-K and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits
(d) Exhibits Exhibit No. Description
10.1         Multicurrency Revolving Credit Agreement, dated as of December 29,
             2009, by and among LoJack Corporation, RBS Citizens, N.A., TD Bank,
             N.A., and the other parties named therein (incorporated by reference
             to Exhibit 10.1 to the Company's Current Report on Form 8-K, filed
             with the SEC on January 5, 2010, File No. 001-08439)


10.2         First Amendment to Credit Agreement, dated as of June 30, 2010, by
             and among LoJack Corporation, RBS Citizens, N.A., TD Bank, N.A., and
             the other parties named therein (incorporated by reference to
             Exhibit 10.1 to the Company's Current Report on Form 8-K, filed with
             the SEC on July 1, 2010, File No. 001-08439)


10.3         Second Amendment to Credit Agreement, dated as of December 29, 2010,
             by and among LoJack Corporation, RBS Citizens, N.A., TD Bank, N.A.,
             and the other parties named therein (incorporated by reference to
             Exhibit 10.1 to the Company's Current Report on Form 8-K, filed with
             the SEC on January 4, 2011, File No. 001-08439)


10.4         Third Amendment to Credit Agreement, dated as of March 29, 2013, by
             and among LoJack Corporation, RBS Citizens, N.A., TD Bank, N.A., and
             the other parties named therein (filed herewith)


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