SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): December 11, 2007 (December 7, 2007)
BUTLER INTERNATIONAL, INC.
(Exact name of Registrant as specified in Charter)
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MARYLAND | | 0-14951 | | 06-1154321 |
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(State or other jurisdiction of
incorporation or organization) | | (Commission File No.) | | (I.R.S. Employer
Identification No.) |
New River Center, 200 East Las Olas Boulevard, Suite 1730
Ft. Lauderdale, Florida 33301
(Address of Principal Executive Offices/Zip Code)
Registrant’s telephone number, including area code: (954)761-2200
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:
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(e)) | |
TABLE OF CONTENTS
INFORMATION TO BE INCLUDED IN THE REPORT
| ITEM 1.01 | Entry into a Material Definitive Agreement |
SIGNATURE
EXHIBIT INDEX
EXHIBIT 10.1
EXHIBIT 10.2
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ITEM 1.01 | ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT |
On December 7, 2007, Butler entered into a Consent and Waiver to Third Amendment and Restated Credit Agreement with General Electric Capital Corporation (“GECC”), whereby GECC waived defaults and events of defaults arising from Butler’s failure to deliver 2006-year end financial information. Also, on December 10, 2007 Butler entered into a Consent and Waiver to Second Lien Credit Agreement with Monroe Capital Management Advisors (“Monroe”), dated as of December 1, 2007, whereby Monroe waived defaults and events of defaults arising from Butler’s failure to deliver 2006-year end financial information. Both consents provide that defaults will be reinstated if 2006 year end financial information is not provided by December 31, 2007. Copies of the consents and waivers are attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2 and the descriptions above are qualified in their entirety by reference to such agreements.
ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
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(a) | Not applicable |
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(b) | Not applicable. |
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(c) | Exhibits |
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The exhibits listed below are being furnished pursuant to Item 9.01.
Exhibit Number | Description |
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10.1 | Consent and Waiver to Third Amended and Restated Credit Agreement, dated as of December 7, 2007 among BSG, as Borrower, and GECC, as agent for the Lenders. |
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10.2 | Consent and Waiver to Second Lien Credit Agreement, dated as of December 1, 2007 and executed as of December 10, 2007, among BSG, as Borrower, the other credit parties, signatory thereto, as Lenders, and Monroe as Agent. |
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SIGNATURES
Pursuant to the requirements of the Securities and 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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Date: December 11, 2007 | BUTLER INTERNATIONAL INC. |
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By: | /s/ Mark Koscinski |
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| Mark Koscinski |
| Principal Accounting Officer |
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BUTLER INTERNATIONAL, INC.
EXHIBIT LIST
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Exhibit Number | Description |
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10.1 | Consent and Waiver to Third Amended and Restated Credit Agreement, dated as of December 7, 2007 among BSG, as Borrower, and GECC, as agent for the Lenders |
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10.2 | Consent and Waiver to Second Lien Credit Agreement, dated as of December 1, 2007 and executed as of December 10, 2007, among BSG, as Borrower, the other credit parties, signatory thereto, as Lenders, and Monroe as Agent. |
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