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DXYN > SEC Filings for DXYN > Form 8-K on 17-Apr-2014All Recent SEC Filings

Show all filings for DIXIE GROUP INC



Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial S

ITEM 1.01 Entry into a Material Definitive Agreement

Ninth Amendment to Credit Agreement.

Effective April 16, 2014, the Company and certain of its subsidiaries entered into the Ninth Amendment to Credit Agreement (the "Ninth Amendment") with respect to the Credit Agreement dated as of September 13, 2011, as previously amended, with Wells Fargo Capital Finance, LLC.

The Ninth Amendment permits the Company to invest up to $500,000 in Desso Masland Hospitality, LLC, a joint venture (described below) with Desso, B.V., and permits the Company to sell inventory to the joint venture so long as the amount of such inventory that has not been paid for in cash at any time does not exceed $3,000,000.

The foregoing description of the Ninth Amendment is not a complete description of all of the parties' rights and obligations under the Ninth Amendment, the above description is qualified in its entirety by reference to the Ninth Amendment, which is filed as Exhibit 10.1 hereto and incorporated herein to this Item 1.01 by reference.

Item 7.01 Regulation FD Disclosure

Desso Joint Venture.

Effective April 16, 2014, TDG Operations, LLC, a subsidiary of the Company, and Desso (U.S.A.), Inc., a subsidiary of Desso, BV, a Netherlands based company, completed the formation of the previously announced joint venture. The purpose of the joint venture is to sell and distribute Hospitality floorcovering products in the United States market, and in such other territories as the parties may determine from time to time. The joint venture is intended to build the Company's presence in the upscale Hospitality market by combining the parties' sales forces and product offerings.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following exhibit is filed with this report:

10.1         Ninth Amendment to Credit Agreement, by and among The Dixie Group,
             Inc., certain of its subsidiaries and Wells Fargo Capital Finance,
             LLC, as Agent, and the persons identified as Lenders therein.

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