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JMBA > SEC Filings for JMBA > Form 8-K on 24-Jul-2013All Recent SEC Filings

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Form 8-K for JAMBA, INC.


24-Jul-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation


Item 1.01. Entry into a Material Definitive Agreement.

On July 22, 2013, Jamba, Inc. (the "Company") entered into an amendment (the "Amendment") to the Credit Agreement (the "Credit Agreement"), dated as of February 14, 2012, by and among the Company, Jamba Juice Company, the Company's wholly-owned subsidiary, as borrower ("Jamba Juice"), the Company's wholly-owned subsidiaries, Jamba Juice Advertising Fund Inc. and Talbott Teas Inc., as guarantors, and Wells Fargo Bank, National Association (the "Lender"), as amended by Amendment No. 1 thereto, dated as of November 1, 2012. Pursuant to the Amendment, Lender increased the revolving line of credit available to Jamba Juice to $15 million. The outstanding balance under the credit facility, as amended, bears interest at a LIBOR Market Index Rate based upon the rate for one month U.S. dollar deposits, plus 2.5% per annum. Under the terms of the amended Credit Agreement, the Company is required to maintain maximum consolidated leverage ratios, minimum levels of tangible net worth and a minimum fixed charge coverage ratio. The Amendment also extends the term of the Credit Agreement to July 22, 2016, or the Credit Agreement may be terminated earlier by Jamba Juice or by Lender.

The description of the Amendment is not complete and is qualified in its entirety by the actual terms of the Amendment, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the period ended July 2, 2013.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 of this Current Report on Form 8-K is hereby incorporated into this Item 2.03 by reference.

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