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): OCTOBER 31, 2006
DHB INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 001-13112 11-3129361
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(State of Incorporation) (Commission File Number) (IRS Employer Identification
Number)
2102 SW 2ND STREET, POMPANO BEACH, FLORIDA 33069
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(Address of principal executive office) (Zip Code)
(954) 630-0900
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(Registrant's telephone number, including area code)
NOT APPLICABLE
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(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.
FORBEARANCE AGREEMENT EXTENSION
Effective August 24, 2006, DHB Industries, Inc. (the "Company") and its
subsidiaries entered into a Forbearance Agreement with LaSalle Business Credit,
LLC (the "Lender"). Pursuant to the Forbearance Agreement, the Lender agreed to
forbear, through and including October 1, 2006, from exercising certain of its
default-related rights and remedies under the Loan and Security Agreement, dated
as of September 24, 2001, as amended (the "Loan Agreement"), arising out of the
occurrence of certain events of default thereunder (the "Events of Default"). On
September 29, 2006, the Company and the Lender agreed to extend the expiry date
of the Forbearance Agreement to October 31, 2006.
On October 31, 2006, the Company and the Lender agreed to further
extend the expiry date of the Forbearance Agreement to December 14, 2006 and to
make certain other modifications to the agreement.
Pursuant to the terms of the extension of the Forbearance Agreement,
the Lender has agreed, among other things, (1) to continue to make revolving
loans to the Company's subsidiaries in accordance with the terms of the Loan
Agreement; (2) to defer until December 14, 2006 the payment of a $3 million
amortization payment originally due on July 1, 2006 and a $3 million
amortization payment due on October 1, 2006.
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.
DHB INDUSTRIES, INC.
By: /s/ THOMAS C. CANFIELD
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Name: Thomas C. Canfield
Title: General Counsel
Dated: November 6, 2006