Search the web
Welcome, Guest
[Sign Out, My Account]

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
INOD > SEC Filings for INOD > Form 8-K on 12-Feb-2014All Recent SEC Filings

Show all filings for INNODATA INC



Other Events, Financial Statements and Exhibits

Item 8.01 Other Events.

In the Company's report on Form 10Q for the nine months ended September 30, 2013 the Company reported that it had a $15 million line of credit under which the Company could borrow up to a total amount equal to 80% of eligible accounts receivable, and that the line is to expire in June 2014. The line is an uncommitted line with JP Morgan Chase Bank N.A. ("Chase") and borrowings are subject to the discretion of Chase. The terms of the line are set out in an Advised Line of Credit Note dated June 25, 2012 (the "Note"), a Note Modification Agreement with Chase dated June 27, 2013, and a letter from Chase dated June 27, 2013. Any borrowings are to take the form of advances under the Note ("Advances"), will bear interest at Chase's alternate base rate plus 0.5% or LIBOR plus 2.5%, and will be secured under the terms of a continuing security agreement dated May 22, 2008.

The Company has never made any borrowings under the Note.

By letter to the Company dated February 7, 2014 Chase advised that it did not intend to make any Advances or extensions of credit or other financial accommodations under the Note, and that it would not consider permitting Advances in the future unless and until it has received from the Company designated financial and business information, all in form and substance satisfactory to Chase. Chase also confirmed that the terms and conditions of the Note and the other Loan Documents (as defined) remain in full force and effect.

The foregoing information is qualified in its entirety by reference to the full texts of the relevant documents, copies of which are filed as exhibits to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1      Advised Line of Credit Note dated June 25, 2012 in favor of Chase

99.2      Note Modification Agreement dated June 27, 2013 between the Company
          and Chase

99.3      Continuing Security Agreement dated May 22, 2008 between the Company
          and Chase

99.4      Letter dated June 27, 2013 from Chase to the Company

99.5      Letter dated February 7, 2014 from Chase to the Company

  Add INOD to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for INOD - All Recent SEC Filings
Copyright © 2015 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.