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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
UVE > SEC Filings for UVE > Form 8-K on 4-Apr-2013All Recent SEC Filings

Show all filings for UNIVERSAL INSURANCE HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for UNIVERSAL INSURANCE HOLDINGS, INC.


4-Apr-2013

Creation of a Direct Financial Obligation or an Obligation und


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, Universal Insurance Holdings, Inc. ("Company"), as borrower, entered into a Revolving Loan Agreement ("Loan Agreement") and Revolving Note ("Note", and together with the Loan Agreement, the "Loan Documents") with Deutsche Bank Trust Company Americas, as lender ("Lender").

The Loan Documents make available to the Company an unsecured revolving line of credit in an aggregate amount not to exceed $10 million. Loans made under the Loan Agreement mature on March 27, 2015. The Company may use loan proceeds for working capital and other general corporate purposes and to repurchase shares of its equity stock from its shareholders. The Company has not yet drawn on the line of credit, but may do so from time to time for such permitted purposes.

Loans made under the Loan Agreement will bear interest, at the Company's election, at the LIBOR rate plus an applicable margin of 5.50% per annum or at the prime lending rate as announced by the Lender plus an applicable margin of 3.50% per annum. The interest period for a loan made at a LIBOR rate shall, at the Company's election, be one or three months, subject to certain conditions and adjustments as may be made between the Company and the Lender.

The Loan Agreement includes financial covenants requiring a minimum amount of unencumbered liquid assets, a minimum amount of shareholders' equity and a maximum leverage percentage. The Loan Agreement also contains other customary affirmative and negative covenants and events of default.

The foregoing description of the Loan Documents is not complete and is qualified in its entirety by reference to the full text of the Loan Agreement and the Note, which are attached as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference.



ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits:

10.1 Revolving Loan Agreement, dated March 29, 2013, by and between the Company and Deutsche Bank Trust Company Americas.

10.2 Revolving Note, dated March 29, 2013, by the Company in favor of Deutsche Bank Trust Company Americas, in the original principal amount of $10,000,000.


  Add UVE to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for UVE - 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 © 2014 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.