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GLDD > SEC Filings for GLDD > Form 8-K on 10-Jul-2013All Recent SEC Filings

Show all filings for GREAT LAKES DREDGE & DOCK CORP



Entry into a Material Definitive Agreement, Financial Statements a

Item 1.01 - Entry into a Material Definitive Agreement

On July 3, 2013, Great Lakes Dredge & Dock Corporation (the "Company") entered into the third amendment (the "Third Amendment") to the Company's senior revolving credit facility dated June 4, 2012 with Wells Fargo Bank, National Association, as Administrative Agent, and the other lenders party thereto (the "Credit Agreement"). The Third Amendment amends the Credit Agreement by:

clarifying the treatment of contingent "Bonding Obligations" for financial covenant purposes by clearly excluding such contingent obligations from the definition of "Consolidated Total Indebtedness;" and

restating the event of default in Section 10.1(m)(i) to clarify that the surety must discontinue providing a bonding facility for the issuance of, or provide notice that it will no longer issue, bonds that are necessary for the Company's business before this provision applies. It also clarifies that an event of default will not occur if the surety declines to issue individual bonds, so long as the Company maintains a surety bonding facility.

The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text thereof, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 - Financial Statements and Exhibits

(d) Exhibits

The following exhibits are furnished herewith:

10.1 Amendment No. 3 to Credit Agreement dated July 3, 2013.

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