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) NOVEMBER 8, 2010 ENVIRONMENTAL SOLUTIONS WORLDWIDE, INC (EXACT NAME OF COMPANY AS SPECIFIED IN ITS CHARTER) FLORIDA 000-30392 13-4172059 - ------- --------- ---------- (STATE OR OTHER JURISDICTION) (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER OF INCORPORATION) IDENTIFICATION) 335 CONNIE CRESCENT, CONCORD, ONTARIO, CANADA L4K 5R2 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (905) 695-4142 N/A (Former name or former address, if changed since last report) |_| Written communication 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 40.13e-4(c)) ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On November 26, 2010, the Company's wholly owned subsidiary ESW Canada, Inc. received a second waiver of certain financial covenants under its Credit Agreement dated March 10, 2010 (the "Credit Agreement") from its commercial lender. Without the waiver, the Company's subsidiary would not be in compliance with the Current Ratio and Effective Tangible Net Worth covenants as set forth in the Credit Agreement. The second waiver as provided by the commercial lender is through December 24, 2010. In the event the Company and its subsidiary ESW Canada fail to comply with the terms of the waiver prior to the end of the waiver period, same will constitute an event of default as set forth in the Credit Agreement unless a further waiver or modification to the Credit Agreement can be obtained. ENVIRONMENTAL SOLUTIONS WORLDWIDE INC. Date: November 26, 2010 By: /s/ David J. Johnson ------------------------ David J. Johnson Chief Executive Officer and President