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CRRS > SEC Filings for CRRS > Form 8-K on 17-Sep-2013All Recent SEC Filings

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

Form 8-K for CORPORATE RESOURCE SERVICES, INC.


17-Sep-2013

Entry into a Material Definitive Agreement, Creation of a Direc


Item 1.01 Entry into a Material Definitive Agreement.

The information provided in Item 2.03 of this Current Report on Form 8-K is incorporated herein 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 27, 2013, the subsidiaries of Corporate Resource Services, Inc. (the "Company") entered into amendments to their account purchase agreements ("Asset Purchase Agreement") with Wells Fargo Bank, National Association ("Wells Fargo") in order to increase the aggregate maximum amount the Company can borrow from Wells Fargo to $80.0 million. The terms of each such agreement were previously described in Items 1.01 and 2.03 of the Forms 8-K listed below, which are incorporated herein by reference:

Form 8-K filed with the Securities Exchange Commission ("SEC") on September 1, 2010 relating to the Account Purchase Agreement between Insurance Overload Services, Inc., a Delaware Corporation ("Insurance Overload"), and Wells Fargo dated as of August 27, 2010;


Form 8-K filed with the SEC on November 5, 2010 relating to the Account Purchase Agreement between Corporate Resource Development, Inc., a Delaware Corporation ("CRD"), and Wells Fargo dated as of November 2, 2010;

Form 8-K filed with the SEC on February 1, 2011 relating to the Account Purchase Agreement between Diamond Staffing Services, Inc., a Delaware Corporation ("Diamond"), and Wells Fargo dated as of January 31, 2011;

Form 8-K filed with the SEC on November 25, 2011 relating to the Amended and Restated Account Purchase Agreement between TS Staffing Services, Inc., a Texas Corporation ("TS Staffing"), and Wells Fargo, dated as of November 21, 2011; and,

Form 8-K filed with the SEC on June 21, 2013 relating to the Account Purchase Agreement and amendment hereto between Accountabilities, Inc., a Delaware Corporation ("Accountabilities"), and Wells Fargo dated as of June 13, 2013.

On August 27, 2013, CRD, TS Staffing and Accountabilities entered into a Sixth Amendment to Account Purchase Agreement, Fourth Amendment to Account Purchase Agreement and First Amendment to Account Purchase Agreement, respectively, while Insurance Overload and Diamond Staffing each entered into a separate Fifth Amendment to Account Purchase Agreement with Wells Fargo.



Item 9.01. Financial Statements and Exhibits

(d) Exhibits

10.1 Fifth Amendment to Account Purchase Agreement dated as of August 27, 2013, by and between Insurance Overload Services, Inc. and Wells Fargo Bank, National Association.

10.2 Sixth Amendment to Account Purchase Agreement dated as of August 27, 2013, by and between Corporate Resource Development, Inc. and Wells Fargo Bank, National Association.

10.3 Fifth Amendment to Account Purchase Agreement dated as of August 27, 2013, by and between Diamond Staffing Services, Inc. and Wells Fargo Bank, National Association.

10.4 Fourth Amendment to Account Purchase Agreement dated as of August 27, 2013, by and between TS Staffing Services, Inc. and Wells Fargo Bank, National Association.

10.5 First Amendment to Account Purchase Agreement dated as of August 27, 2013, by and between Accountabilities, Inc. and Wells Fargo Bank, National Association.


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