Wells Fargo Agents Swisher Hygiene Amendment
Swisher Hygiene, a hygiene and sanitation products and services provider, announced that it has entered into an amendment to its senior credit facility with Wells Fargo Bank as administrative agent.
The amended facility 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, June 30, 2012 and September 30, 2012 until the earlier of the date on which the Company delivers such financial statements to the Securities and Exchange Commission or November 16, 2012.
The amendment waives any Default or Event of Default that may exist as a result of Swisher Hygiene not timely filing its Annual Report on Form 10-K for the year ended December 31, 2011, its Quarterly Report on Form 10-Q for the period ended March 31, 2012 and its Quarterly Report on Form 10-Q for the period ended June 30, 2012, so long as Swisher Hygiene files the Form 10-K and Form 10-Qs by November 16, 2012. Swisher Hygiene cannot provide assurance as to when it will complete the filings.
Also, pursuant to the amendment, Swisher Hygiene placed certain amounts in a collateral account under the sole control of the Administrative Agent to meet Swisher Hygiene’s Unencumbered Liquidity requirements. Such funds are security for the payment and performance of certain obligations of Swisher Hygiene.
Swisher Hygiene provides hygiene and sanitation solutions to customers throughout North America and internationally.