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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) June 25, 1999
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QAD INC.
(Exact name of registrant as specified in its charter)
Delaware 000-22823 77-0105228
(State or Other (Commission File No.) (I.R.S. Employer
Jurisdiction of Identification No.)
Incorporation)
6450 Via Real, Carpinteria, California 93013
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (805) 684-6614
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N/A
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(Former Name or Former Address, if Changed Since Last Report.)
Item 5. Other Events
Effective as of June 25, 1999, QAD Inc. entered into a Second Amendment to
Credit Agreement with The First National Bank of Chicago. In the amendment, the
Bank has agreed (1) to convert to a permanent waiver the temporary waiver
relating to financial covenant defaults for the fiscal quarter ended April 30,
1999 granted by the Bank pursuant to the First Amendment to Credit Agreement
dated as of June 14, 1999, and (2) to amend certain financial covenants,
borrowing base provisions and restrictive covenants of the Credit Agreement. In
connection with the amendment, QAD and the Bank also amended the pricing
provisions under the Credit Agreement.
Item 7. Financial Statements and Exhibits
The following exhibit is filed as part of this Current Report on Form 8-K.
Exhibit No. Description
10.1 Second Amendment to Credit Agreement between QAD Inc. and
The First National Bank of Chicago
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SIGNATURES
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.
Date: August 13, 1999 QAD INC.
(Registrant)
By: /S/ A.J. Moyer
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A.J. Moyer
Chief Financial Officer
(on behalf of registrant and as
Principal Financial Officer)
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EXHIBIT INDEX
Exhibit No. Description
10.1 Second Amendment to Credit Agreement
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