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INFINITY PROPERTY & CASUALTY CORP FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

August 26, 2014



Item 1.01 Entry into a Material Definitive Agreement On August 20, 2014, Infinity Property and Casualty Corporation (the "Company") entered into the second amendment to amended and restated credit agreement (the "Second Amendment") with Regions Bank (the "Lender"). The Second Amendment amended the terms of the amended and restated credit agreement (the "Original Agreement"), dated August 31, 2008, by and between the Company and the Lender, and the terms of the first amendment to amended and restated credit agreement (the "First Amendment," and together with the Original Agreement and Second Amendment, the "Credit Agreement"), dated August 31, 2011, by and between the Company and the Lender. The Credit Agreement provides the Company with an unsecured revolving credit facility (the "Facility") having a maximum facility amount of $50,000,000. The Second Amendment amends the terms of the Original Agreement and the First Amendment by, among other things, (i) extending the term of the Credit Agreement to August 31, 2017, (ii) permitting Infinity Insurance Company (the "Subsidiary"), a wholly-owned subsidiary of the Company, to directly borrow funds through the Facility, and (iii) providing that a) the Company shall be jointly and severally liable for all funds borrowed through the Facility and b) the Subsidiary shall only be liable for funds that it borrows through the Facility. The foregoing summary is not intended to be comprehensive and is qualified in its entirety by the full text of the following documents, all of which are incorporated by reference as if fully set forth herein: i) the Second Amendment, a copy of which is attached hereto as Exhibit 10,

ii) the First Amendment, a copy of which is attached as Exhibit 10 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 1, 2011, and iii) the Original Agreement, a copy of which is attached as Exhibit 10 to the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 4, 2008. Item 9.01 Financial Statements and Exhibits (d) Exhibits 10 Second Amendment to Amended and Restated Credit Agreement, dated as of August 20, 2014, by and between Infinity Property and Casualty Corporation and Infinity Insurance Company (as the "Borrower") and Regions Bank (as the "Lender").



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Source: Edgar Glimpses


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