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XIDEQ > SEC Filings for XIDEQ > Form 8-K on 28-May-2014All Recent SEC Filings

Show all filings for EXIDE TECHNOLOGIES

Form 8-K for EXIDE TECHNOLOGIES


28-May-2014

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry into a Material Definitive Agreement.

On May 28, 2014, Exide Technologies, a debtor and a debtor-in-possession (the "Company" or the "Debtor") in a pending case in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") under Chapter 11 of the United States Bankruptcy Code, obtained an amendment to that certain Amended and Restated Superpriority Debtor-in-Possession Credit Agreement, dated as of July 12, 2013, by and among the Company, as US Borrower, Exide Global Holding Netherlands C.V., as Foreign Borrower, the lenders from time to time party thereto and JP Morgan Chase Bank, N.A., as Agent (as amended, the "Amended DIP Credit Agreement").

The amendment extends to June 30, 2014 the milestone for the Company to file a plan of reorganization with the Bankruptcy Court. The amendment increases the quarterly and rolling four quarter capital expenditure limits from $25 million and $90 million to $36 million and $120 million, respectively. The amendment also excludes from the definition of "Capital Expenditure" expenditures made in connection with the replacement, substitution, restoration or repair of assets funded through the receipt of insurance proceeds or other compensation awards paid on account of a casualty loss. Finally, the amendment increases the European factoring basket to Euro 100 million from Euro 75 million and expands the subsidiaries whose receivables can be factored to include subsidiaries domiciled in Belgium, Denmark, Finland, Luxemburg, the Netherlands, Norway and Sweden.

The foregoing description of the amendment to the Amended DIP Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the text of such document, which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.



Item 9.01 Financial Statements and Exhibits.

10.1 Amendment No. 3, dated as of May 28, 2014, to the Amended and Restated Superiority Debtor-in-Possession Credit Agreement, dated as of July 12, 2013, by and among Exide Technologies, a Debtor and a Debtor-in-Possession under Chapter 11 of the Bankruptcy Code, as US Borrower, Exide Global Holding Netherlands C.V., as Foreign Borrower, the lenders from time to time party thereto and JP Morgan Chase Bank, N.A., as Agent.

99.1 Press Release dated May 28, 2014.


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