SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
(Amendment No. 1)
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 29, 2010
REDWOOD MORTGAGE INVESTORS VIII
(Exact Name of Registrant as Specified in Charter)
|(State or Other Jurisdiction of Incorporation)||(Commission File Number)|
900 Veterans Blvd., Suite 500
Redwood City, California 94063
(Address of Principal Executive Offices and Zip Code)
(Registrant’s Telephone Number, Including Area Code)
(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:
|¨||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.
In a current report on Form 8-K filed by Redwood Mortgage VIII (the “Partnership”) on December 22, 2009, the Partnership disclosed that it had entered into a Forbearance Agreement with Union Bank, N.A., as lender and as agent (the “Agent”) for the other lenders party thereto (collectively, the “Lenders”), with respect to that certain Fifth Amended and Restated Loan Agreement, dated as of September 23, 2008, between the Partnership and the Lenders (as amended, the “Loan Agreement”), pursuant to which the Lenders agreed to extend to the Partnership a revolving credit facility of up to $85,000,000. Pursuant to the Forbearance Agreement, the Lenders agreed to, among other things; forbear from exercising its rights and remedies arising out of the Partnership’s default under the Loan Agreement in failing to comply with the profitability financial covenant for the third quarter, 2009.
The Forbearance Agreement provided that the forbearance period was effective until January 20, 2010, subject to earlier termination upon (i) the occurrence of any additional event of default under the Loan Agreement (other than the existing event of default specified in the Forbearance Agreement) or the occurrence of any breach of covenant or default under the Forbearance Agreement, or (ii) certain other events.
This Amendment No. 1 on Form 8-K/A is being filed in order to disclose that by a letter agreement, the Lenders and the Partnership have agreed to extend the forbearance period to until February 19, 2010.
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.
Dated: January 29, 2010 REDWOOD MORTGAGE INVESTORS VIII
|By:||/S/ Michael R. Burwell|
|Michael R. Burwell, General Partner|
|By:||Gymno Corporation, General Partner|
/S/ Michael R. Burwell
|Michael R. Burwell, President, Secretary/Treasurer & Chief Financial Officer|
|By:||Redwood Mortgage Corp., General Partner|
/S/ Michael R. Burwell
Michael R. Burwell,