R-14Driver
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Entry into a Material Definitive Agreement, Other Events, Financial Statements
Item 1.01. Entry into a Material Definitive Agreement.
YRC, Inc., USF Holland, Inc., New Penn Motor Express, Inc. and USF Reddaway Inc. (each a subsidiary of YRC Worldwide Inc. (the "Company")) are a party to the Contribution Deferral Agreement, dated as of June 17, 2009, as amended, supplemented or otherwise modified (the "Contribution Deferral Agreement"), with Central States, Southeast and Southwest Areas Pension Fund, certain other pension funds party thereto and Wilmington Trust Company, as agent. As previously disclosed in the Current Report on Form 8-K that the Company filed with the Securities and Exchange Commission (the "SEC") on August 3, 2010 (the "Prior 8-K"), certain provisions of Amendment No. 18 (the "Credit Agreement Amendment") to the Credit Agreement, dated as of August 17, 2007 (the "Credit Agreement"), among the Company, certain of its subsidiaries, JPMorgan Chase Bank, National Association, as agent, and the other lenders that are parties thereto were not effective until the Contribution Deferral Agreement was amended to approve the Credit Agreement Amendment.
On August 10, 2010, the Company entered into a consent and amendment to the Contribution Deferral Agreement (the "CDA Amendment") to approve the Credit Agreement Amendment.
The pension funds party to the Contribution Deferral Agreement consented to the terms of the Credit Agreement Amendment and agreed to continue deferring monthly amortization and interest payments without any corresponding additional payment in respect of the deferred pension obligations to the extent additional mandatory prepayments, commitment reductions, additional interest or fees or any other incremental payments are paid to the lenders pursuant to the Credit Agreement, as amended by the Credit Agreement Amendment. ................
Summary of YRC WORLDWIDE INC. - Yahoo! Finance
Item 1.01. Entry into a Material Definitive Agreement.
YRC, Inc., USF Holland, Inc., New Penn Motor Express, Inc. and USF Reddaway Inc. (each a subsidiary of YRC Worldwide Inc. (the "Company")) are a party to the Contribution Deferral Agreement, dated as of June 17, 2009, as amended, supplemented or otherwise modified (the "Contribution Deferral Agreement"), with Central States, Southeast and Southwest Areas Pension Fund, certain other pension funds party thereto and Wilmington Trust Company, as agent. As previously disclosed in the Current Report on Form 8-K that the Company filed with the Securities and Exchange Commission (the "SEC") on August 3, 2010 (the "Prior 8-K"), certain provisions of Amendment No. 18 (the "Credit Agreement Amendment") to the Credit Agreement, dated as of August 17, 2007 (the "Credit Agreement"), among the Company, certain of its subsidiaries, JPMorgan Chase Bank, National Association, as agent, and the other lenders that are parties thereto were not effective until the Contribution Deferral Agreement was amended to approve the Credit Agreement Amendment.
On August 10, 2010, the Company entered into a consent and amendment to the Contribution Deferral Agreement (the "CDA Amendment") to approve the Credit Agreement Amendment.
The pension funds party to the Contribution Deferral Agreement consented to the terms of the Credit Agreement Amendment and agreed to continue deferring monthly amortization and interest payments without any corresponding additional payment in respect of the deferred pension obligations to the extent additional mandatory prepayments, commitment reductions, additional interest or fees or any other incremental payments are paid to the lenders pursuant to the Credit Agreement, as amended by the Credit Agreement Amendment. ................
Summary of YRC WORLDWIDE INC. - Yahoo! Finance