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ABC > SEC Filings for ABC > Form 8-K on 10-Apr-2014All Recent SEC Filings




Other Events

Item 8.01. Other Events.

On April 4, 2014, AmerisourceBergen Corporation (the "Company") entered into a First Amendment to Line of Credit Note ("First Amendment") with Citizens Bank of Pennsylvania (the "Bank") to increase its uncommitted, unsecured line of credit from an aggregate principal amount not to exceed $45,000,000 to $75,000,000. The line of credit provides the Company with the ability to request short-term unsecured revolving credit loans from time to time in a principal amount not to exceed $75,000,000 at any time outstanding. Each borrowing under the line of credit is subject to the prior approval of the Bank, in its sole discretion. In addition to the increase to the line of credit, the First Amendment provides for updated payment terms. Under the First Amendment, the unpaid principal balance of each revolving credit loan must be repaid on the applicable repayment date, which date shall not be later than 30 days after such loan was advanced. Interest on each revolving credit loan shall be the rate per annum offered by the Bank from time to time for such loans and shall be paid once per month.

The Line of Credit Note between the Company and Bank ("Revolving Credit Note") provides for certain events of default, which include (subject in certain cases to grace and cure periods), among others, nonpayment of principal or interest; breach of any covenant or agreement in the Revolving Credit Note; default under or failure to pay certain other indebtedness; and certain events of bankruptcy, insolvency, reorganization, administration or similar proceedings. Generally, if an event of default occurs, the Bank may demand the unpaid principal amount of the note outstanding, accrued interests and all other amounts owing by the Company to be due and payable immediately. The Revolving Credit Note may be decreased or terminated by the Bank or the Company at any time without prior notice.

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