Attached files
| file | filename |
|---|---|
| EX-10.1 - EXHIBIT 10.1 - COLUMBUS MCKINNON CORP | ex10_1.htm |
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): July 15, 2011
COLUMBUS MCKINNON CORPORATION
(Exact name of registrant as specified in its charter)
NEW YORK
(State or other jurisdiction of incorporation)
|
0-27618
|
16-0547600
|
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
140 JOHN JAMES AUDUBON PARKWAY, AMHERST, NEW YORK
|
14228-1197
|
|
(Address of principal executive offices)
|
(Zip Code)
|
Registrant's telephone number including area code: (716) 689-5400
|
(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:
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
o
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 1.01ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On July 15, 2011, Columbus McKinnon Corporation (the “Company”) entered into the third amendment (the “Amendment”) to its existing Fourth Amended and Restated Credit Agreement (the “Revolving Credit Agreement”) dated as of December 31, 2009 among the Company and certain subsidiaries of the Company party thereto (together with the Company, the “Borrowers”); Bank of America, N.A., JP Morgan Chase Bank, N.A., RBS Citizens Bank, N.A., M&T Bank, PNC Bank, N.A., and Credit Suisse AG Cayman Islands Branch as lenders (the “Lenders”); and Bank of America, N.A. as Administrative Agent, Letter of Credit Issuer, and Swing Line Lender. The Amendment, among other things, provides for reductions in the “Applicable Rate” grid, in recognition of improved market conditions, resulting in lower unused, Libor and Base Rate borrowing and letters of credit fees at various levels in the grid, based on the Total Leverage Ratio and amends the definition of the “Total Leverage Ratio.” The Amendment also makes certain other modifications to the terms of the Revolving Credit Agreement. As of July 15, 2011, other than the outstanding letter of credit balance of $18,480,494, the Company has no borrowings under the Revolving Credit Agreement. As of June 30, 2011, the most recent fiscal quarter, the Company was in compliance with its debt covenants under the terms of the Revolving Credit Agreement.
The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the actual Amendment, which is attached to this report as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01FINANCIAL STATEMENTS AND EXHIBITS
|
Exhibit No.
|
Description
|
|
10.1
|
Third Amendment to the Fourth Amended and Restated Credit Agreement, dated as of December 31, 2009, among the Company and certain subsidiaries of the Company party thereto, Bank of America, N.A., JP Morgan Chase Bank, N.A., RBS Citizens Bank, N.A., M&T Bank, PNC Bank, N.A., and Credit Suisse AG Cayman Islands Branch, dated as of July 15, 2011.
|
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 thereunto duly authorized.
|
COLUMBUS McKINNON CORPORATION
|
||
|
By:
|
/s/ Karen L. Howard
|
|
|
Name:
|
Karen L. Howard
|
|
|
Title:
|
Vice President-Finance and Chief Financial Officer
|
|
Dated: July 20, 2011
EXHIBIT INDEX
|
EXHIBIT NUMBER
|
DESCRIPTION
|
|
Third Amendment to the Fourth Amended and Restated Credit Agreement, dated as of December 31, 2009, among the Company and certain subsidiaries of the Company party thereto, Bank of America, N.A., JP Morgan Chase Bank, N.A., RBS Citizens Bank, N.A., M&T Bank, PNC Bank, N.A., and Credit Suisse AG Cayman Islands Branch, dated as of July 15, 2011.
|