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LTM > SEC Filings for LTM > Form 8-K on 3-Jun-2014All Recent SEC Filings

Show all filings for LIFE TIME FITNESS, INC.

Form 8-K for LIFE TIME FITNESS, INC.


3-Jun-2014

Entry into a Material Definitive Agreement, Creation of a Direct Financia


Item 1.01. Entry into a Material Definitive Agreement.

On May 30, 2014, Life Time Fitness, Inc. (the "Company") amended and extended its Third Amended and Restated Credit Agreement (the "Credit Agreement") with U.S. Bank National Association, as administrative agent and lender, and other lenders from time to time a party thereto. The material amendments to the Credit Agreement are (i) an increase to the amount of the facility from $860.0 million to $1.20 billion; and (ii) an extension of the maturity of the facility to May 30, 2019. After giving effect to the amendments, the facility consists of a $100.0 million term loan and a $1.1 billion revolving credit facility, which term loan amortizes at the rate of 5.0% on an annual basis. The facility may also be increased by an additional $500.0 million upon the exercise of an accordion feature if one or more lenders commit the additional $500.0 million. The Amendment No. 3 to Third Amended and Restated Credit Agreement dated May 30, 2014 is filed as Exhibit 10.1 to this Form 8-K.



Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information described above under Item 1.01 with respect to the Credit Agreement is hereby incorporated by reference.

Item 9.01. Exhibits.


The following Exhibit is being filed herewith:



10.1    Amendment No. 3 to Third Amended and Restated Credit Agreement dated as of
        May 30, 2014, among Life Time Fitness, Inc., certain designated
        subsidiaries of Life Time Fitness, Inc., U.S. Bank National Association,
        as administrative agent and lender, Royal Bank of Canada, JPMorgan Chase
        Bank, N.A. and Bank of America, N.A. and certain other financial
        institutions, as lenders.


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