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UNITED SURGICAL PARTNERS INTERNATIONAL INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

July 10, 2014



Item 1.01 Entry into a Material Definitive Agreement

On June 27, 2014, United Surgical Partners International, Inc. (the "Company") entered into Amendment No. 5 (the "Fifth Amendment") to its Credit Agreement dated as of April 19, 2007, as amended August 19, 2009, April 3, 2012, December 19, 2012 and February 19, 2013 (the "Credit Agreement") among the Company, USPI Holdings, Inc., each lender from time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and the other Agents named therein. The terms of the Fifth Amendment included a change to the secured leverage ratio-based financial covenant contained in the Credit Agreement. The secured leverage ratio test was amended to increase the secured leverage ratio applicable to the quarter ending June 30, 2014 from 4.75:1.00 to 5.25:1.00, the quarters ending September 30, 2014 and December 31, 2014 from 4.50:1.00 to 5.25:1.00, the quarters ending March 31, 2015, June 30, 2015 and September 30, 2015 from 4.50:1.00 to 5.00:1.00 and the quarter ending March 31, 2016, and all subsequent quarters from 4.00:1.00 to 4.50:1.00.

The foregoing description of the Fifth Amendment to the Credit Agreement is qualified in its entirety by reference to the complete terms and conditions of the Fifth Amendment to the Credit Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an

Off-Balance Sheet Arrangements of a Registrant

The information set forth in Item 1.01 is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. 10.1 Amendment No. 5, dated as of June 27, 2014, to the Credit Agreement, dated as of April 19, 2007, as amended August 19, 2009, April 3, 2012, December 19, 2012 and February 19, 2013 among USPI, USPI Holdings, Inc., each lender from time to time party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and the other Agents named therein.



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Source: Edgar Glimpses


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