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EPIQ > SEC Filings for EPIQ > Form 8-K on 27-Mar-2014All Recent SEC Filings

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Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01. Entry into a Material Definitive Agreement.

On March 26, 2014, Epiq Systems, Inc. ("Epiq") entered into the First Amendment ("First Amendment") to its existing Credit Agreement, dated August 27, 2013 ("Existing Credit Facility"), among Epiq, certain of its domestic subsidiaries party thereto as guarantors, a syndicate of banks and institutional investors as lenders, and KeyBank National Association, PNC Bank National Association and Silicon Valley Bank as joint lead arrangers.

The First Amendment of the Existing Credit Facility amends, among other things, Epiq's two senior secured term loan interest rate options, the selection of which is at the discretion of management, as follows: (a) 2.50% (from 2.75%) plus prime rate subject to a 1.75% (from 2%) floor, or (b) 3.50% (from 3.75%) plus one, two, three or six month LIBOR rate subject to a 0.75% (from 1%) LIBOR floor. The First Amendment also resets the six month period for the applicability of a 1% prepayment premium with respect to repricing transactions pursuant to which term loans are prepaid or repriced, such that the prepayment premium will apply to any such repricing transactions which occur prior to the six month anniversary of the date of the First Amendment.

The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the First Amendment, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

On March 27, 2014, Epiq issued a press release announcing the First Amendment, which is furnished herewith as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed as part of this report:

10.1 First Amendment, dated March 26, 2014, to the Credit Agreement dated as of August 27, 2013, among Epiq Systems, Inc. and the domestic subsidiaries named therein as guarantors, a syndicate of banks and institutional investors as lenders, KeyBank National Association as the LC issuer, swing line lender, administrative agent.

99.1 Press release, dated March 27, 2014, announcing the entry into the Credit Facility.

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