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OCLR > SEC Filings for OCLR > Form 8-K on 20-Mar-2014All Recent SEC Filings

Show all filings for OCLARO, INC.

Form 8-K for OCLARO, INC.


Termination of a Material Definitive Agreement

Item 1.02 Termination of Material Definitive Agreement

On March 14, 2014, Oclaro, Inc., a Delaware corporation (the "Parent"), terminated the Second Amended and Restated Credit Agreement, dated as of November 2, 2012 (as amended, the "Credit Agreement"), among the Parent, Oclaro Technology Limited, a company incorporated under the laws of England and Wales ("Borrower"), each lender party thereto (the "Lenders") and Wells Fargo Capital Finance, LLC, a Delaware limited liability company (as successor-by-merger to Wells Fargo Capital Finance, Inc.), as administrative agent for the Lenders. Prior to termination of the Credit Agreement, Borrower had repaid all amounts owed to the Lenders under the Credit Agreement, other than immaterial amounts attributable to obligations under the Credit Agreement in respect of letters of credit. Concurrent with the termination of the Credit Agreement, Borrower provided cash collateral to the Lenders in respect of such immaterial letters of credit. As a result, Parent and Borrower had satisfied all of their material obligations under the Credit Agreement. As previously disclosed in Parent's most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC"), no amounts were available to Parent or Borrower under the Credit Agreement. Neither Parent nor Borrower was required to pay a termination penalty in connection with the termination of the Credit Agreement.

A description of the material terms and conditions of the Credit Agreement is contained in the disclosures contained in the current reports on Form 8-K filed by Parent with the SEC on November 5, 2012, January 29, 2013, August 27, 2013 and October 2, 1013.

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