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
January 31, 2002
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(Date of earliest event reported)
SAFETY-KLEEN CORP.
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(Exact name of Registrant as specified in its charter)
Delaware 001-8368 51-0228924
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
1301 Gervais Street, Suite 300,
Columbia, South Carolina 29201
(Address of principal executive offices, including zip code)
(803) 933-4200
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
The Company executed the Tenth Amendment and Waiver dated as of January 31,
2002, to the Amended and Restated Debtor-in-Possession Credit Agreement among
Safety-Kleen Services, Inc., The Several Lenders from Time to Time Parties
thereto, Toronto-Dominion (Texas), Inc. as General Administrative Agent and
Underwriter and The CIT Group/Business Credit, Inc. as Collateral Agent and
Underwriter Initially dated as of June 11, 2000, Amended and Restated as of July
19, 2000 (the "Amendment"). The Amendment has the effect of extending to March
15, 2002, the termination date of the Company's $100.0 million Revolving Credit,
Term Loan, and Guaranty Agreement underwritten by the Toronto Dominion Bank as
general administrative agent and the CIT Group, Inc. as collateral agent (the
"DIP Facility").
The Company continues to negotiate a further extension of the maturity date of
the DIP Facility as well as an increase in the DIP Facility to accommodate
additional cash and letter of credit requirements. While the Company believes it
will negotiate an acceptable extension and increase, there can be no assurance
that such extension will occur, or such increase will be granted.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description
(4)(a) Ninth Waiver dated as of January 14, 2002, to the Amended and
Restated Debtor-in-Possession Credit Agreement among
Safety-Kleen Services, Inc., The Several Lenders from Time to
Time Parties thereto, Toronto-Dominion (Texas), Inc. as General
Administrative Agent and Underwriter and The CIT Group/Business
Credit, Inc. as Collateral Agent and Underwriter Initially dated
as of June 11, 2000, Amended and Restated as of July 19, 2000.
(4)(b) Tenth Amendment and Waiver dated as of January 31, 2002, to the
Amended and Restated Debtor-in-Possession Credit Agreement among
Safety-Kleen Services, Inc., The Several Lenders from Time to
Time Parties thereto, Toronto-Dominion (Texas), Inc. as General
Administrative Agent and Underwriter and The CIT Group/Business
Credit, Inc. as Collateral Agent and Underwriter Initially dated
as of June 11, 2000, Amended and Restated as of July 19, 2000.
SIGNATURE
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.
SAFETY-KLEEN CORP.
Date: February 4, 2002 By: /s/ James K. Lehman
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James K. Lehman
Senior Vice President, General Counsel and
Secretary
EXHIBIT INDEX
(4)(a) Ninth Waiver dated as of January 14, 2002, to the Amended and
Restated Debtor-in-Possession Credit Agreement among
Safety-Kleen Services, Inc., The Several Lenders from Time to
Time Parties thereto, Toronto-Dominion (Texas), Inc. as General
Administrative Agent and Underwriter and The CIT Group/Business
Credit, Inc. as Collateral Agent and Underwriter Initially dated
as of June 11, 2000, Amended and Restated as of July 19, 2000.
(4)(b) Tenth Amendment and Waiver dated as of January 31, 2002, to the
Amended and Restated Debtor-in-Possession Credit Agreement among
Safety-Kleen Services, Inc., The Several Lenders from Time to
Time Parties thereto, Toronto-Dominion (Texas), Inc. as General
Administrative Agent and Underwriter and The CIT Group/Business
Credit, Inc. as Collateral Agent and Underwriter Initially dated
as of June 11, 2000, Amended and Restated as of July 19, 2000.