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NEWT > SEC Filings for NEWT > Form 8-K on 9-Aug-2013All Recent SEC Filings

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

Form 8-K for NEWTEK BUSINESS SERVICES, INC.


9-Aug-2013

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


ITEM 1.01 Entry Into a Material Definitive Agreement.

On July 16, 2013, Newtek Business Services, Inc. (the "Company") entered into a Waiver and First Amendment to Credit Agreement (the "Amendment") with the several banks or other financial institutions or entities from time to time parties to the Credit Agreement (as defined below) (the "Lenders"), and ABC Funding, LLC, as administrative agent (the "Administrative Agent"), amending that certain Credit Agreement, dated as of April 25, 2012 (the "Credit Agreement"), by and among the Company, the Administrative Agent and the Lenders.

The Amendment had the primary effect of conforming certain financial covenants to accommodate changes made to the credit facility by and between Newtek Small Business Finance, Inc., a subsidiary of the Company, and Capital One, National Association, as reflected in that certain Amended and Restated Loan and Security Agreement, dated July 16, 2013, and clarifying certain definitions.

The above description is a summary and is qualified in its entirety by the terms of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.



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

The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference herein.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Number                                    Description

10.1         Waiver and First Amendment to Credit Agreement, dated as of July 16,
             2013, by and among the Company, the Lenders and the Administrative
             Agent (Exhibits Omitted).


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