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SWSH > SEC Filings for SWSH > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for SWISHER HYGIENE INC.



Entry into a Material Definitive Agreement, Creation of a Direct Financial O

Item 1.01. Entry into a Material Definitive Agreement.

The information set forth in Item 2.03 of this report on Form 8-K is hereby incorporated in Item 1.01 by reference.

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

On October 31, 2012, Swisher Hygiene Inc. (the "Company") amended its senior secured revolving credit facility with the lenders named therein and Wells Fargo Bank, National Association, as administrative agent ("Administrative Agent") for the lenders (the "Amended Credit Facility"). The amendment provides an extension for the delivery of the Company's financial statements for the fiscal year ended December 31, 2011 and for the quarterly periods ended March 31, 2012, June 30, 2012, and September 30, 2012 until the earlier of the date on which the Company delivers such financial statements to the Securities and Exchange Commission or November 16, 2012. At the same time, the amendment waives any Default or Event of Default that may exist as a result of the Company not timely filing its Annual Report on Form 10-K for the year ended December 31, 2011, its Quarterly Report on Form 10-Q for the period ended March 31, 2012, and its Quarterly Report on Form 10-Q for the period ended June 30, 2012, so long as the Company files the Form 10-K and Form 10-Qs by November 16, 2012. The Company cannot provide assurance as to when it will complete these filings.

Also, pursuant to the amendment, Swisher Hygiene placed certain amounts in a collateral account under the sole control of the Administrative Agent to meet Swisher Hygiene's Unencumbered Liquidity requirements. Such funds are security for the payment and performance of certain obligations of Swisher Hygiene.

The foregoing description of the material terms of the amendment is qualified by reference to the terms of the amendment which is filed as Exhibit 10.1 to this report and is incorporated into this report by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.         Exhibit Description

10.1                Ninth Amendment to Credit Agreement and Pledge and Security
                    Agreement, dated October 31, 2012, by and among Swisher Hygiene
                    Inc., the Subsidiary Guarantors party thereto, the Required
                    Lenders named therein and Wells Fargo Bank, National
                    Association. (Portions of this exhibit have been omitted and
                    filed separately with the Securities and Exchange Commission
                    pursuant to a request for confidential treatment.)
99.1                Press release, dated November 1, 2012.

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