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| HWK > SEC Filings for HWK > Form 8-K on 3-Jun-2008 | All Recent SEC Filings |
3-Jun-2008
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
In connection with the sale of its wholly-owned subsidiary Tex Racing
Enterprises, Inc. ("Tex Racing"), Hawk Corporation ("Hawk") and certain of its
subsidiaries modified Hawk's existing credit facility by entering into Amendment
No. 4 and Consent to Credit and Security Agreement and Omnibus Amendment to
Certain Other Loan Documents with KeyBank National Association ("KeyBank"),
dated as of May 30, 2008 (the "Amendment and Consent"). Pursuant to the
Amendment and Consent, KeyBank consented to the sale of Tex Racing and the
release of liens on the stock or assets of Tex Racing.
In addition, all references to Tex Racing were deleted from Hawk's credit
facility and all existing pledge agreements, landlord waivers and limited
license agreements between Tex Racing and KeyBank were terminated.
The description of the Amendment and Consent set forth above is not complete and
is qualified in its entirety by reference to the full and complete terms of the
Amendment and Consent, which is attached as Exhibit 10.1 to this current report.
Item 8.01. Other Events.
On May 30, 2008, Hawk issued a press release regarding the sale of Tex Racing. The press release is attached to this current report as Exhibit 99.1.
(d) Exhibits
10.1 Amendment No. 4 and Consent to Credit and Security Agreement and Omnibus Amendment to Certain Other Loan Documents, effective as of May 30, 2008 among Hawk Corporation, Friction Products Co., Hawk Motors, Inc., Logan Metal Stampings, Inc., Quarter Master Industries, Inc., S.K. Wellman Corp., S.K. Wellman Holdings, Inc., Tex Racing Enterprises, Inc., Wellman Products Group, Inc. and Wellman Products, LLC and KeyBank National Association, as Administrative Agent and LC Issuer
99.1 Hawk Corporation Press Release dated May 30, 2008
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