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KBR, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

May 13, 2014

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 (the "Credit 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. Together, 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. (d) 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"

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Source: Edgar Glimpses

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