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FET > SEC Filings for FET > Form 8-K on 21-Nov-2012All Recent SEC Filings




Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement.
On November 20, 2012, Forum Energy Technologies, Inc., a Delaware corporation (the "Company"), entered into Amendment No. 3 (the "Amendment") to its Amended and Restated Credit Agreement, dated as of October 4, 2011, among the Company, as Borrower, Wells Fargo Bank National Association, as Administrative Agent and Swing Line Lender, and Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A. and Bank of America, N.A. and such other lenders designated from time to time as Issuing Lenders (the "Credit Agreement"). The Amendment provides for
(i) an increase in the Senior Secured Leverage Ratio to 3.00 to 1.00, commencing with the fiscal quarter ending immediately after a qualified issuance of notes;
(ii) an increase of $50 million in the Company's ability to issue additional unsecured notes; (iii) the deletion of certain conditions related to the refinancing of certain permitted Debt; and (iv) certain other amendments to the Credit Agreement, each as set forth in the Amendment. Capitalized terms used herein but not otherwise defined have the meaning given to them in the Credit Agreement, as amended. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated in this 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.
The description of the Amendment in Item 1.01 above is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.   Exhibit Title or Description
10.1          Amendment No. 3 to Amended and Restated Credit Agreement, dated as
              of November 20, 2012, among Forum Energy Technologies, Inc., as
              Borrower, the Guarantors, the Lenders party thereto, the Issuing
              Lenders party thereto and Wells Fargo Bank, National Association, as
              Administrative Agent.

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