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): February 3, 2009
enherent Corp.
(Exact name of registrant as specified in its charter)
| | | | |
| DELAWARE | | 0-23315 | | 13-3914972 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
33 Wood Avenue South
Suite 400
Iselin, NJ 08830
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (732) 603-3859
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):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 1.01. | Entry into a Material Definitive Agreement. |
On February 3, 2009, enherent Corp. (the “Company”) and Ableco Finance LLC (“Ableco”), as lender and agent, entered into a Fifth 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: (a) extends the revolving loan maturity date under the Financing Agreement from April 1, 2009 to April 1, 2010, (b) amends the amortization of Term Loan B set forth in Section 2.03 of the Financing Agreement, the aggregate amount outstanding of which is $1,062,500, to provide that the first installment of $212,500 will be due upon the effective date of the Amendment, twelve consecutive monthly installments of $47,000 will be due commencing on April 1, 2009, and the last installment of $286,000 will be due on April 1, 2010, and (c) modifies financial covenants set forth in Section 6.03 of the Financing Agreement relating to the Fixed Charge Coverage Ratio and Consolidated EBITDA.
The foregoing description of the Amendment is a summary and is qualified by reference to the actual Amendment, which will be filed as an exhibit, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
The following exhibit is filed herewith.
| | |
Exhibit
Number | | Description |
10.1 | | Fifth Amendment to Amended and Restated Financing Agreement, dated as of February 3, 2009, by and among the Company, certain subsidiaries listed therein, Ableco Finance LLC and certain lenders party thereto. |
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. |
| | | |
Date: February 9, 2009 | | | | By: | | /s/ Pamela Fredette |
| | | | | | Pamela Fredette |
| | | | | | Chairman, Chief Executive Officer and President |
INDEX TO EXHIBITS
| | |
Exhibit
Number | | Description |
10.1 | | Fifth Amendment to Amended and Restated Financing Agreement, dated as of February 3, 2009, by and among the Company, certain subsidiaries listed therein, Ableco Finance LLC and certain lenders party thereto. |
