Business Context and Reporting Period
Company: AVIAT NETWORKS, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: November 20, 2013
Event: Entry into a Material Definitive Agreement (Amendment No. 2 to First Amended and Restated Loan Agreement).
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or specific debt balances. The document focuses exclusively on the amendment of a liquidity coverage financial covenant within an existing loan facility with Silicon Valley Bank. The filing references prior 8-K reports (dated September 27, 2013, and October 30, 2013) for additional details regarding the Loan Facility.
Material Changes
- Agreement Amendment: On November 20, 2013, the Company, Aviat U.S., Inc., and Aviat Networks (S) Pte. Ltd. entered into Amendment No. 2 to their First Amended and Restated Loan and Security Agreement with Silicon Valley Bank.
- Covenant Modification: The amendment specifically modifies the liquidity coverage financial covenant under the Loan Facility.
Guidance, Outlook, and Risks
Management Commentary: The filing states that the Lender and its affiliates engage in banking and commercial dealings with the Company and receive customary fees and commissions.
Risks and Contingencies: No new risks or contingencies are disclosed in this specific report beyond the standard qualification that the description of the amendment is subject to the full text of the agreement filed as Exhibit 10.1.
Investor Verification Checklist
- Review the full text of Exhibit 10.1 (Amendment No. 2) to understand the specific terms of the modified liquidity coverage covenant.
- Consult the Company's prior 8-K filings from September 27, 2013, and October 30, 2013 to understand the original terms of the Loan Facility.
- Verify the Company's current liquidity position to assess compliance with the amended covenant.