- Current report filing (8-K)
November 22 2010 - 3:16PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of
1934
Date of Report (Date of earliest event reported): November 19, 2010
enherent Corp.
(Exact name of registrant as specified in its charter)
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DELAWARE
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0-23315
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13-3914972
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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100 Wood Avenue South
Suite 116
Iselin, NJ 08830
(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code: (732) 321-1004
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01.
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Entry into a Material Definitive Agreement.
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On November 19, 2010, enherent Corp. (the Company) and Ableco Finance LLC (Ableco), as lender and agent, entered into a Twelfth Amendment to Amended and Restated Financing
Agreement (the Amendment) that further amends the Amended and Restated Financing Agreement dated as of April 1, 2005 by and between the Company and Ableco (the Financing Agreement). The Amendment modifies (a) the
affirmative covenants set forth in Section 6.01 of the Financing Agreement by adding new language relating to expense reduction; and (b) financial covenants set forth in Section 6.03 of the Financing Agreement relating to the
Consolidated EBITDA. In addition, the Amendment (a) extends the revolving loan maturity date under the Financing Agreement from December 31, 2010 to September 30, 2011; and (b) modifies the monthly amount by which the
Additional Availability under the revolving loan will be reduced, such that on the first business day of each month the Additional Availability will be reduced by (i) for the month of December 2010, $45,000, and (ii) for each month
thereafter, by $50,000.
The foregoing description of the Amendment is a summary and is qualified by reference to the actual
Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01
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Financial Statements and Exhibits.
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The following exhibit is filed herewith.
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Exhibit
Number
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Description
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10.1
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Twelfth Amendment to Amended and Restated Financing Agreement, dated as of November 19, 2010, by and among the Company, certain subsidiaries listed therein, Ableco Finance LLC and
certain lenders party thereto.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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enherent Corp.
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Date: November 22, 2010
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By:
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/s/ Pamela Fredette
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Pamela Fredette
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Chairman, Chief Executive Officer and President
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INDEX TO EXHIBITS
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Exhibit
Number
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Description
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10.1
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Twelfth Amendment to Amended and Restated Financing Agreement, dated as of November 19, 2010, by and among the Company, certain subsidiaries listed therein, Ableco Finance LLC and
certain lenders party thereto.
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