Swisher Hygiene Amends Credit Facility With Wells Fargo Bank
Swisher Hygiene Inc. announced that it has entered into a sixth amendment to its senior credit facility with Wells Fargo Bank as administrative agent.
The sixth amendment provides an extension for the delivery of Swisher Hygiene’s financial statements for the fiscal year ended December 31, 2011 and for the quarterly periods ended March 31, 2012 and June 30, 2012 until the earlier of the date on which the company delivers such financial statements to the SEC or August 31, 2012. At the same time, the sixth amendment waives any Default or Event of Default (i) that may exist as a result of Swisher Hygiene not filing its Form 10-K for the year ended December 31, 2011 by April 16, 2012 and its Quarterly Report on Form 10-Q for the period ended March 31, 2012 by May 21, 2012 and (ii) that may hereafter exist in the event the company does not file its Quarterly Report on Form 10-Q for the period ended June 30, 2012 by August 20, 2012 so long as Swisher Hygiene files the Form 10-K and Form 10-Qs by August 31, 2012. Swisher Hygiene cannot provide assurance as to when it will complete the filings.
While Swisher Hygiene has no present intention to borrow any additional funds under the credit facility, until (1) Swisher Hygiene files the Form 10-K and Form 10-Qs, (2) represents to Wells Fargo that its financial statements as filed may be relied upon, and (3) Wells Fargo consents to such reliance, Swisher Hygiene may not borrow additional funds under the credit facility with Wells Fargo.
Swisher Hygiene Inc. is a provider of essential hygiene and sanitation solutions to customers throughout much of North America and internationally through its global network of company-owned operations, franchises and master licensees operating in countries across Europe and Asia.
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