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HURN > SEC Filings for HURN > Form 8-K on 26-Sep-2013All Recent SEC Filings

Show all filings for HURON CONSULTING GROUP INC.



Entry into a Material Definitive Agreement, Financial Statements and

Item 1.01 Entry Into a Material Definitive Agreement.

On September 25, 2013, Huron Consulting Group Inc. (the "Company") and certain of the Company's subsidiaries entered into a second amendment (the "Second Amendment") to the Amended and Restated Credit Agreement dated as of April 14, 2011 (as amended and modified, the "Credit Agreement") by and among the Company, as borrower, certain subsidiaries of the Company, as guarantors, the lenders identified therein and Bank of America, N.A., as administrative agent and collateral agent.

Among other terms, the Second Amendment:

Extends the maturity date of the term loan and termination date of the revolving credit facility from August 31, 2017 to September 25, 2018 ("Amended Maturity Date");

Extends the term loan's quarterly amortization payment schedule through June 30, 2018 and decreases the final principal payment due on the Amended Maturity Date to $40 million;

Eliminates the restriction on the aggregate amount of acquisitions greater than $150 million during any 12-month period;

Increases the permitted additional unsecured indebtedness from $150 million to $250 million;

Eliminates a certain mandatory prepayment provision;

Increases the maximum Consolidated Leverage Ratio allowed for certain fiscal quarters; and

Modifies the pricing structure to the terms shown in the table below:

                                                               Revolving Loans
                                                                and Term Loan                Letter
                                                          Eurodollar           Base            of
                              Consolidated                   Rate              Rate          Credit          Commitment
Pricing Tier                 Leverage Ratio                 Loans             Loans            Fee               Fee
4                               > 2.5:1.0                        2.00 %         1.00 %          2.00 %              0.30 %
3                       > 1.75:1.0, but  2.5:1.0                1.75 %         0.75 %          1.75 %              0.25 %
2                       > 1.0:1.0, but  1.75:1.0                1.50 %         0.50 %          1.50 %              0.20 %
1                                1.0:1.0                        1.25 %         0.25 %          1.25 %              0.15 %

A copy of the Second Amendment is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated by reference herein. The foregoing description of the Second Amendment is qualified in its entirety by reference to the full text of the Second Amendment.

A copy of the press release announcing the Second Amendment is being filed as Exhibit 99.1 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1    Amendment No. 2 to the Credit Agreement, dated as of September 25, 2013,
        by and among Huron Consulting Group Inc., as the Borrower, certain
        subsidiaries as Guarantors, the Lenders identified on the signature pages
        thereto, and Bank of America, N.A., as Administrative Agent for and on
        behalf of the Lenders.

99.1    Press release dated September 26, 2013, announcing the Second Amendment.

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