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ALSN > SEC Filings for ALSN > Form 8-K on 14-Mar-2014All Recent SEC Filings




Entry into a Material Definitive Agreement, Financial Statement

Item 1.01 Entry Into a Material Definitive Agreement.

On March 12, 2014, Allison Transmission, Inc. ("ATI"), a wholly-owned subsidiary of Allison Transmission Holdings, Inc. (the "Company"), entered into a consent agreement (the "Consent Agreement") under the Company's Credit Agreement, dated as of August 7, 2007 (as amended, the "Credit Agreement").

Pursuant and subject to the terms of the Consent Agreement, the revolving lenders under the Credit Agreement have agreed to prospectively waive any Event of Default resulting directly from any non-compliance with the Financial Covenant in the Credit Agreement that provides that ATI must not exceed a maximum Total Senior Secured Leverage Ratio with respect to any period of four consecutive fiscal quarters ending as of the last day of any fiscal quarter for which no Revolving Loans are outstanding on such date.

This summary of the Consent Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Consent Agreement filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number       Description

10.1         Consent Agreement to the Credit Agreement, dated as of March 12, 2014,
             among Allison Transmission Holdings, Inc., Allison Transmission, Inc.,
             as Borrower, the several banks and other financial institutions or
             entities from time to time parties thereto as Lenders, Citicorp North
             America, Inc., as Administrative Agent, and the other agents and
             arrangers party thereto.

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