Item 1.01 Entry into a Material Definitive Agreement.
On May 9, 2014
, KBR, Inc.
("KBR") received a Waiver under its Five Year
Revolving Credit Agreement dated as of December 2, 2011
Agreement"), providing for the waiver of compliance with certain
representations, warranties and covenants of the Credit Agreement. The Waiver
relates to certain defaults that were triggered, or might have been triggered,
arising from KBR's previously announced restatement of its December 31, 2013
financial statements, and from the timing and delivery of financial statements
for the three months ended March 31, 2014
, and related documents, due to delays
caused by the pending restatement, as described in KBR's Current Report on Form
8-K filed with the Securities and Exchange Commission
on May 5, 2014
the Waiver and the Credit Agreement require that KBR deliver its amended Form
10-K for the year ended December 31, 2013
, its Form 10-Q for the three months
ending March 31, 2014
, and Form 10-Q for the three months ended June 30, 2014
and related certificates by August 30, 2014
. After giving effect to the Waiver,
no event of default exists under the Credit Agreement as a result of the
previously announced restatement, and KBR may request the issuance of new
letters of credit and loan advances under the Credit Agreement in accordance
with its terms. The Waiver is filed as Exhibit 10.1 to this Form 8-K.
ITEM 9.01 Financial Statements and Exhibits.
10.1 Waiver dated as of May 9, 2014
99.1 Press release titled "KBR, Inc. Receives Bank Waiver of Compliance for
Revolving Credit Agreement"