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TWGP > SEC Filings for TWGP > Form 8-K on 2-Dec-2013All Recent SEC Filings

Show all filings for TOWER GROUP INTERNATIONAL, LTD. | Request a Trial to NEW EDGAR Online Pro



Entry into a Material Definitive Agreement, Financial Statements

Item 1.01. Entry Into A Material Definitive Agreement

On November 26, 2013, four wholly-owned subsidiaries of Tower Group International, Ltd. (the "Company"), including Tower Insurance Company of New York, CastlePoint Insurance Company, CastlePoint National Insurance Company and Hermitage Insurance Company (each a "Borrower"), entered into a waiver letter (the "Waiver Letter"), relating to the Letter of Credit Facility Agreement, dated as of November 11, 2011, as amended on March 12, 2012, July 16, 2012, November 21, 2012, as amended and restated on March 7, 2013, and as subsequently amended on May 2, 2013 and October 22, 2013 among the Borrowers, Barclays Bank PLC ("Barclays") and Bank of Montreal, London Branch, as issuing banks (the "Issuing Banks"), and Barclays as agent and security agent (as so amended, the "Credit Agreement").

Pursuant to the Waiver Letter, the Issuing Banks have agreed to waive the Borrowers' non-compliance with certain covenants contained in the Credit Agreement regarding the Borrowers' delivery to the Issuing Banks of certain financial statements and related compliance certificates. The foregoing summary of the Waiver Letter is not complete and is qualified in its entirety by the copy of the Waiver Letter filed as an exhibit to this Form 8-K, which exhibit is incorporated by reference to this Item 1.01.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

10.1    Waiver Letter to Letter of Credit Facility Agreement, dated as of
        November 26, 2013, by and among Tower Insurance Company of New York,
        CastlePoint Insurance Company, CastlePoint National Insurance Company,
        Hermitage Insurance Company, Barclays Bank PLC and Bank of Montreal

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