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NTRI > SEC Filings for NTRI > Form 8-K on 4-Nov-2013All Recent SEC Filings

Show all filings for NUTRI SYSTEM INC /DE/ | Request a Trial to NEW EDGAR Online Pro

Form 8-K for NUTRI SYSTEM INC /DE/


4-Nov-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibi


Item 1.01. Entry into a Material Definitive Agreement

On November 4, 2013, Nutrisystem, Inc. (the "Company") entered into a Third Amendment and Modification (the "Third Amendment") to Credit Agreement, to be effective as of September 30, 2013, among the Company, certain subsidiaries of the Company, Manufacturers and Traders Trust Company, as Administrative Agent, and the other Lenders parties thereto (the "Credit Agreement"). The Credit Agreement provides for a $40 million secured revolving credit facility, including a sublimit of $6 million for letters of credit. The Credit Agreement was amended by the Third Amendment (i) to modify the definition of consolidated EBITDA to take into consideration a cash expense of up to $5 million in the aggregate incurred during the fiscal year of the Company ending December 31, 2013 with respect to the settlement of a contractual dispute with a supplier, and (ii) to provide that as of the end of each fiscal quarter of the Company, the consolidated tangible net worth of the Company shall not be less than $45,000,000.

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



Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

10.1 Third Amendment and Modification to Credit Agreement dated November 4, 2013, effective September 30, 2013, among the Company, certain subsidiaries of the Company, Manufacturers and Traders Trust Company, as Administrative Agent, and certain other Lenders.


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