AVIAT NETWORKS, INC. (NASDAQ:AVNW) Files An 8-K Entry into a Material Definitive AgreementItem 9.01. Entry into a Material Definitive Agreement.
On September21, 2017, Aviat Networks, Inc. (the “Company”) entered into Amendment No. 8 to Second Amended and Restated Loan Agreement (the “Amendment”) by and among the Company, Aviat U.S., Inc. (“Opco”), Aviat Networks (S) Pte. Ltd. (the “Singapore Borrower” and collectively with the Company and Opco, the “Borrowers”) and Silicon Valley Bank, as lender (the “Lender”). The Amendment amends the terms of the Company’s Second Amended and Restated Loan and Security Agreement, dated as of March 28, 2014, as amended, by and among the Borrowers and the Lender (the “Agreement”). Among other things, the Amendment allows for up to 30% of the Singapore Borrower’s accounts receivable to be included in the calculation of the borrowing base and the inclusion of the accounts receivable of certain high credit quality customers of the Company that are aged 90 to 120 days to be included in the calculation of the borrowing base.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits.
Exhibit No. Description
AVIAT NETWORKS, INC. ExhibitEX-10.1 2 exhibit101_no8amendmenttos.htm EXHIBIT 10.1 Exhibit 10.1_No. 8 Amendment to SVB Second Amended and Restated Agreement EXECUTION VERSIONAMENDMENT NO. 8TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENTTHIS AMENDMENT NO. 8 TO THE SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMEN (this “Amendment”) is entered into this 21st day of September,…To view the full exhibit click here
About AVIAT NETWORKS, INC. (NASDAQ:AVNW)
Aviat Networks, Inc., together with its subsidiaries, is a supplier of microwave networking solutions. The Company’s product categories include point-to-point microwave and millimeter wave radios that are licensed (subject to local frequency regulatory requirements), lightly-licensed and license-exempt (operating in license-exempt frequencies), and element and network management software. In addition, it provides a range of professional services enabling it to deliver turnkey networks, including design, deployment, maintenance and managed services. It designs, manufactures and sells a range of wireless networking products, solutions and services to mobile and fixed public network operators, private network operators, Federal, State and Local government agencies, transportation, energy and utility companies, public safety agencies and broadcast network operators around the world. The Company sells products and services directly to its customers and also use agents and resellers.