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HTCO > SEC Filings for HTCO > Form 8-K on 6-Nov-2012All Recent SEC Filings

Show all filings for HICKORY TECH CORP



Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On November 5, 2012, Hickory Tech Corporation ("the Company", "we", "us", "our") received a waiver of specified defaults from the lenders in our credit facility.

Our credit facility requires us to comply with certain financial reporting representations, specifically that all financial statements of the Company and its subsidiaries that are required to be furnished to the lenders pursuant to the Credit Agreement are required to be prepared in accordance with GAAP. On October 23, 2012 we notified our lenders that our accounting for interest rate swaps in financial statements furnished to the lenders was not in accordance with GAAP, resulting in a breach of specific financial reporting requirements ("Specified Defaults") of the credit facility, and requested that the lenders waive the Specified Defaults.

On November 5, 2012, our lenders waived the Specified Defaults. Except as expressly provided by this waiver, all terms and provisions of the Credit Agreement were ratified and confirmed and shall continue in full force and effect.

Item 9.01.       Financial Statements and Exhibits.

(c)  Exhibits.
10.1  Waiver Letter, dated November 5, 2012, by and among HICKORY TECH
      CORPORATION, a Minnesota corporation (the "Borrower"), the Lenders who are
      or may become party to this Agreement, and COBANK, ACB, as Administrative
      Agent for the Lenders.

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