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UNTK > SEC Filings for UNTK > Form 8-K on 5-Jun-2013All Recent SEC Filings

Show all filings for UNITEK GLOBAL SERVICES, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for UNITEK GLOBAL SERVICES, INC.


5-Jun-2013

Entry into a Material Definitive Agreement, Regulation FD Disclosure


Item 1.01 Entry into a Material Definitive Agreement.

As disclosed in its Current Report on Form 8-K filed on May 3, 2013, UniTek Global Services, Inc. (the "Company") previously entered into forbearance agreements, dated April 30, 2013, with the Company's lenders under its Term Credit Agreement and Revolving Credit Agreement (each as defined below). Such forbearance agreements are referred to herein as, respectively, the "Term Forbearance Agreement" and the "Revolver Forbearance Agreement."

On June 3, 2013 and June 5, 2013, respectively, the Company entered into with the Term Lenders and Revolver Lenders (each as defined below) amendments to the Term Forbearance Agreement and the Revolver Forbearance Agreement to extend through June 6, 2013 the termination of the standstill periods contained in such agreements.

The "Term Credit Agreement" means that certain Credit Agreement, dated as of April 15, 2011 (as amended on September 14, 2012, and as in effect on the date immediately prior to the date of the Term Forbearance Agreement), among the Company, the several banks and other financial institutions or entities from time to time parties thereto (the "Term Lenders"), and FBR Capital Markets LT, Inc., as documentation agent, syndication agent and administrative agent. The "Revolving Credit Agreement" means that certain Revolving Credit and Security Agreement, dated as of April 15, 2011 (as amended on September 13, 2012, and as in effect on the date immediately prior to the date of the Revolver Forbearance Agreement), among the Company, certain subsidiaries of the Company, the several banks and other financial institutions or entities from time to time parties thereto (the "Revolver Lenders"), and PNC Bank, National Association, as agent.

In addition to the Events of Default already subject to the Term Forbearance Agreement and the Revolver Forbearance Agreement, the amendment to the Term Forbearance Agreement also applies to an Event of Default relating to the interest payment that was due from the Company under the Term Credit Agreement on May 29, 2013.

Copies of the amendments of the Term Forbearance Agreement and Revolver Forbearance Agreement, respectively, are attached as Exhibit 99.1 and 99.2 hereto, and the above summary descriptions are qualified in all respects by reference to such agreements, which are incorporated herein by reference.



Item 7.01. Regulation FD Disclosure.

On June 5, 2013, the Company issued a press release regarding the amendments to the Term Forbearance Agreement and Revolver Forbearance Agreement, and announcing that the Company has initiated a process to explore and evaluate potential refinancing alternatives.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number                             Exhibit Title
     99.1        Amendment to Term Forbearance Agreement, dated June 3, 2013.
     99.2        Amendment to Revolver Forbearance Agreement, dated June 5, 2013.
     99.3        Press Release by the Company, dated June 5, 2013, furnished in
                 accordance with Item 7.01 hereof.


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