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SECURITIES AND EXCHANGE COMMISSION
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 14, 2004
| Tennessee | 0-2585 | 62-0183370 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
| 345-B Nowlin Lane, Chattanooga, Tennessee | 37421 | |||
| (Address of principal executive offices) | (zip code) |
Registrant’s telephone number, including area code (423) 510-7010
| Item 5. Other Events | ||||||||
| Item 7. Exhibits | ||||||||
| SIGNATURES | ||||||||
| EX-4.12 SEVENTH AMENDMENT TO LOAN & SECURITY AGMT | ||||||||
| EX-4.13 AMENDED & RESTATED LOAN & SECURITY | ||||||||
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Item 5. Other Events.
On April 14, 2004, the Company amended and restated its May 12, 2002 Loan and Security Agreement with Fleet Capital Corporation, as Agent. The Amended and Restated Loan and Security Agreement incorporates the subsequent seven amendments and further amends the agreement to include, among other things, a total facility of $60 million, consisting of the existing $40 million revolving line of credit and a $20 million term loan. The outstanding borrowing under the term loan was increased from $18.5 million to $20 million, with reduced quarterly amortization. The amended and restated credit facility also provides additional flexibility for the Company with respect to its financial covenants. A copy of the Amended and Restated Loan and Security Agreement is attached as Exhibit 4.13 to this Form 8-K.
Also attached as Exhibit 4.12 to this Form 8-K, is a copy of the seventh amendment to the original Loan and Security Agreement entered into on May 12, 2002, which was executed on January 22, 2004 and modified the definition of fixed charge coverage ratio.
Item 7. Exhibits.
| 4.12 | Seventh Amendment to Loan and Security Agreement dated January 22, 2004. | |
| 4.13 | Amended and Restated Loan and Security Agreement dated April 14, 2004. |