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DLIA > SEC Filings for DLIA > Form 8-K on 7-Oct-2013All Recent SEC Filings

Show all filings for DELIAS, INC.

Form 8-K for DELIAS, INC.


7-Oct-2013

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


Item 1.01. Entry into a Material Definitive Agreement.

On October 1, 2013, dELiA*s, Inc. (the "Company"), certain of its wholly-owned subsidiaries, as borrowers, and certain of its wholly-owned subsidiaries, as guarantors, entered into a Third Amendment to Credit Agreement, dated as of September 30, 2013 (the "Third Amendment"), with each lender party thereto and Salus Capital Partners, LLC, as Administrative Agent and Collateral Agent (in such capacity, the "Agent"). The Third Amendment modifies the Credit Agreement, dated as of June 14, 2013, as amended to date (the "Credit Agreement"), among the foregoing parties to, among other things, extend the period during which increased borrowing base availability for extensions of credit based on the Company's inventory and its owned real property is available to the Company, until the earliest to occur of (a) October 31, 2013, (b) the date on which the Company's secured 7.25% convertible notes (the "Notes") shall convert into equity interests of the Company, and (c) if Agent elects, the occurrence and continuance of a Default or Event of Default. The Agent and such lenders also agreed to remove, for the period ending on the earlier to occur of
(a) October 31, 2013 and (b) if Agent elects, the occurrence and continuance of a Default or Event of Default, any availability reserve under the Credit Agreement with regard to certain liquidated damage payments that may in the future arise under the Company's Securities Purchase Agreement, dated as of July 25, 2013, among the Company, certain of its officers, directors and existing stockholders and other accredited investors, and to permanently remove any such availability reserve upon conversion of the Notes.

The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the text of the Third Amendment, a copy of which is attached to this Form 8-K as Exhibit 10.1 and is incorporated herein by reference.



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

Reference is made to the disclosure set forth under Item 1.01 of this Current Report on Form 8-K, which disclosure is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
  No.                                     Description

10.1         Third Amendment to Credit Agreement, dated as of September 30, 2013,
             among dELiA*s, Inc., each of the wholly-owned subsidiaries of dELiA*s,
             Inc. identified on Schedules 1.01 and 1.02 to the Credit Agreement,
             each lender party thereto, and Salus Capital Partners, LLC, as
             Administrative Agent and Collateral Agent.


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