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ALTI > SEC Filings for ALTI > Form 8-K on 6-Aug-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Creation of a Direct Fina

Item 1.01 Entry into Material Definitive Agreement

The information set forth in Item 2.03 is incorporated into this Item 1.01 by reference.

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

On August 8, 2012, Altair Nanotechnologies Inc. (the "Company") entered into a Note Secured by Deed of Trust, a Deed of Trust, and Hazardous Materials Indemnity Agreement related to the Company's receipt of a $1,000,000 million loan (the "Loan") secured by the Company's Reno, Nevada Facility. The Loan accrues interest at the rate of 11% per annum, with accrued interest payable monthly in arrears, and was originally payable in full on August 1, 2013.

On August 1, 2013, the Company entered into a First Modification of Note and First Modification of Deed of Trust (the "Modification Agreement") pursuant to which the maturity date for the Loan was extended until August 1, 2014. As part of the Modification Agreement, the Company agreed to pay a $19,750 amendment fee, and agreed to make a payment of $12,500 to reduce the outstanding principal amount on August 1, 2013 and to make three additional principal payments of $12,500 each on September 1, 2013, October 1, 2013 and November 1, 2013.

The foregoing description of the Modification Agreement is not complete and is qualified in its entirety by reference to the full text of the Modification Agreement, copies of which are filed herewith as exhibits to this Current Report on Form 8-K and are incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

10.1 First Modification of Note and First Modification of Deed of Trust dated August 1, 2013

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