-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GYVAysauwz5Hbe8Vipj91LXzI8RQz91HS6F4eSFdID9LqEXA8vaiQ/2gGo/YHiNe 4dQyaRPp+af76rIcdn/Azg== 0000905729-09-000176.txt : 20090522 0000905729-09-000176.hdr.sgml : 20090522 20090522160523 ACCESSION NUMBER: 0000905729-09-000176 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090520 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090522 DATE AS OF CHANGE: 20090522 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPARTAN STORES INC CENTRAL INDEX KEY: 0000877422 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 380593940 STATE OF INCORPORATION: MI FISCAL YEAR END: 0329 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31127 FILM NUMBER: 09849358 BUSINESS ADDRESS: STREET 1: 850 76TH ST SW STREET 2: P O BOX 8700 CITY: GRAND RAPIDS STATE: MI ZIP: 49518 BUSINESS PHONE: 6168782000 MAIL ADDRESS: STREET 1: 850 76TH ST SW STREET 2: PO BOX 8700 CITY: GRAND RAPIDS STATE: MI ZIP: 49518 8-K 1 sptnst8k_052209.htm SPARTAN STORES, INC. FORM 8-K Spartan Stores Form 8-K - 05-22-09

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  May 20, 2009

SPARTAN STORES, INC.
(Exact name of registrant as
Specified in Charter)

 

Michigan
(State or Other Jurisdiction
of Incorporation)

000-31127
(Commission
File Number)

38-0593940
(IRS Employer
Identification No.)

 


850 76th Street, S.W.
P.O. Box 8700
Grand Rapids, Michigan

(Address of Principal Executive Offices)

 


49518-8700
(Zip Code)

 

Registrant's telephone number,
including area code:  (616) 878-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).






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Item 1.01.

Entry into a Material Definitive Agreement.


          On May 20, 2009, Spartan Stores, Inc. (the "Company") entered into an amendment to its existing Senior Secured Credit Facility between the Company and its subsidiaries and Wachovia Capital Finance Corporation (Central), Key Bank National Association, Bank of America N.A., National City Business Credit, Inc., General Electric Capital Corporation, and Fifth Third Bank.

          The amendment to the credit facility amends certain covenants and events of default in a manner intended to permit the Company to invest in cash and cash equivalents as long as the Company's revolving loans under the credit facility do not exceed $50,000,000.

          The foregoing brief description of the amendment is not meant to be exhaustive and is qualified in its entirety by the amendment itself, which is attached to this Report as Exhibit 10.

Item 9.01.

Financial Statements and Exhibits.

     
 

(d)

Exhibits:

     
 

10

Amendment No. 7 to Loan and Security Agreement dated May 20, 2009 between Spartan Stores, Inc. and its subsidiaries and Wachovia Capital Finance Corporation (Central), Key Bank National Association, Bank of America N.A., National City Business Credit, Inc., General Electric Capital Corporation, and Fifth Third Bank.

















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SIGNATURES

                    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Date:  May 22, 2009

SPARTAN STORES, INC.

 

 

 

 

 

 

 

By

/s/ David M. Staples


 

 

David M. Staples
Executive Vice President and Chief Financial
Officer











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EXHIBIT INDEX

Exhibit
Number

 


Document

 

 

 

10

 

Amendment No. 7 to Loan and Security Agreement dated May 20, 2009 between Spartan Stores, Inc. and its subsidiaries and Wachovia Capital Finance Corporation (Central), Key Bank National Association, Bank of America N.A., National City Business Credit, Inc., General Electric Capital Corporation, and Fifth Third Bank.













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EX-10 2 sptnstex10_052209.htm SPARTAN STORES, INC. EXHIBIT 10 TO FORM 8-K Spartan Stores Exhibit 10 to Form 8-K - 05/22/09

EXHIBIT 10

Execution

AMENDMENT NO. 7 TO
LOAN AND SECURITY AGREEMENT

          AMENDMENT NO. 7 TO LOAN AND SECURITY AGREEMENT, dated as of May  __, 2009, by and among Spartan Stores, Inc., a Michigan corporation ("Parent"), Spartan Stores Distribution, LLC, a Michigan limited liability company ("Stores Distribution"), Market Development Corporation, a Michigan corporation ("MDC"), Spartan Stores Associates, LLC, a Michigan limited liability company ("Associates"), Family Fare, LLC, a Michigan limited liability company ("Family Fare"), MSFC, LLC, a Michigan limited liability company ("MSFC"), Seaway Food Town, Inc., a Michigan corporation ("Seaway"), The Pharm of Michigan, Inc. ("Pharm"), a Michigan corporation, Valley Farm Distributing Co., an Ohio corporation ("Valley Farm"), Gruber's Real Estate, LLC, a Michigan limited liability company ("Gruber RE"), Prevo's Family Markets, Inc., a Michigan corporation ("Prevo"), Spartan Properties Management, Inc. (formerly know as Buckeye Real Estate Management Co.), an Ohio corporation ("SPM"), Spartan Stores Fuel, LLC, a Michigan limited liability company (together with Lead Borrower, Stores Distribution, United, MDC, Associates, Family Fare, MSFC, Seaway, Pharm, Valley Farm, Gruber RE, Prevo and SPM, each individually a "Borrower" and collectively, "Borrowers"), Spartan Stores Holding, Inc., a Michigan corporation ("Holding"), SI Insurance Agency, Inc., a Michigan corporation ("SI", together with Holding, each individually a "Guarantor" and collectively, "Guarantors"), the parties to the Loan Agreement (as hereinafter defined) from time to time as lenders (each individually, a "Lender" and collectively, "Lenders") and Wachovia Capital Finance Corporation (Central), formerly known as Congress Financial Corporation (Central), an Illinois corporation, in its capacity as agent for Lenders (in such capacity, "Agent").

W I T N E S S E T H :

          WHEREAS, Borrowers and Guarantors have entered into financing arrangements with Agent and Lenders pursuant to which Lenders (or Agent on behalf of Lenders) have made and may make loans and advances and provide other financial accommodations to Borrowers as set forth in the Loan and Security Agreement, dated December 23, 2003, by and among Borrowers, Guarantors, Agent and Lenders, as amended and supplemented by Amendment No. 1 to Loan and Security Agreement, dated as of July 29, 2004, Amendment No. 2 to Loan and Security Agreement, dated as of December 22, 2004, Amendment No. 3 to Loan and Security Agreement, dated as of December 9, 2005, Amendment No. 4 to Loan and Security Agreement, dated as of March 17, 2006, Amendment No. 5 to Loan and Security Agreement, dated as of April 5, 2007 and Amendment No. 6 to Loan and Security Agreement, dated as of May 22, 2007 (as the same now exists and is amended and supplemented pursuant hereto and may hereafter be further amended, mo dified, supplemented, extended, renewed, restated or replaced, the "Loan Agreement") and the other Financing Agreements (as defined therein); and

          WHEREAS, Borrowers and Guarantors have requested Agent and Lenders agree to certain amendments to the Loan Agreement, and Agent and Lenders are willing to agree to such amendments, subject to the terms and conditions herein; and




          WHEREAS, by this Amendment No. 7, Borrowers, Guarantors, Agent and Lenders desire and intend to evidence such amendments;

          NOW THEREFORE, in consideration of the foregoing, the mutual agreements and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

          1.   Definitions.

                    1.1   Additional Definition. As used herein, "Amendment No. 7" shall mean this Amendment No. 7 to Loan and Security Agreement by and among Borrowers, Guarantors, Agent and Lenders, as amended, modified, supplemented, extended, renewed, restated or replaced, and the Loan Agreement and the other Financing Agreements shall be deemed and are hereby amended to include, in addition and not in limitation, such definition.

                    1.2   Interpretation. For purposes of this Amendment No. 7, unless otherwise defined herein, all capitalized terms used herein shall have the respective meanings assigned to such terms in the Loan Agreement.

          2.   Loans, Investments, Etc.. Section 9.10(b) of the Loan Agreement is hereby amended by deleting subsection (i) thereof in its entirety and substituting the following therefor:

          "(i) no Loans are then outstanding in the aggregate principal amount of greater than $50,000,000".

          3.   Representations and Warranties. Each Borrower and Guarantor hereby represents and warrants to Agent and Lenders the following (which shall survive the execution and delivery of this Amendment No. 7), the truth and accuracy of which are a continuing condition of the making of Loans and providing Letter of Credit Accommodations to Borrowers:

                    3.1   This Amendment No. 7 and each other agreement or instrument to be executed and delivered by the Borrowers and Guarantors pursuant hereto have been duly authorized, executed and delivered by all necessary action on the part of each of the Borrowers and Guarantors which is a party hereto and thereto and, if necessary, their respective stockholders and is in full force and effect as of the date hereof, as the case may be, and the agreements and obligations of each of the Borrowers and Guarantors, as the case may be, contained herein and therein, constitute the legal, valid and binding obligations of each of the Borrowers and Guarantors, respectively, enforceable against them in accordance with their terms, except as enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors' rights and except to the extent that availabili ty of the remedy of specific performance or injunctive relief is subject to the discretion of the court before which any proceeding therefor may be brought.

                    3.2   The execution, delivery and performance of this Amendment No. 7 are all within each Borrower's and Guarantor's corporate or limited liability company powers and are not in contravention of law or the terms of any Borrower's or Guarantor's certificate or articles of incorporation, by laws, or other organizational documentation, or any indenture,

2


agreement or undertaking to which any Borrower or Guarantor is a party or by which any Borrower or Guarantor or its property are bound.

                    3.3   No Default or Event of Default exists or has occurred and is continuing.

          4.   Condition Precedent. The effectiveness of the amendments contained herein shall only be effective upon the following:

                    4.1   Agent shall have received an executed original or executed original counterparts of this Amendment No. 7 (as the case may be), duly authorized, executed and delivered by the parties hereto (including all Lenders required for the amendments provided for herein); and

                    4.2   Agent shall have received a true and correct copy of any consent, waiver or approval (if any) to or of this Amendment No. 7, which any Borrower is required to obtain from any other Person.

          5.   Effect of this Amendment. Except as expressly amended pursuant hereto, no other changes or modifications to the Financing Agreements are intended or implied, and, in all other respects, the Financing Agreements are hereby specifically ratified, restated and confirmed by all parties hereto as of the effective date hereof. To the extent that any provision of the Loan Agreement or any of the other Financing Agreements are inconsistent with the provisions of this Amendment No. 7, the provisions of this Amendment No. 7 shall control.

          6.   Further Assurances. Borrowers and Guarantors shall execute and deliver such additional documents and take such additional action as may be reasonably requested by Agent to effectuate the provisions and purposes of this Amendment No. 7.

          7.   Governing Law. The validity, interpretation and enforcement of this Amendment No. 7 and the other Financing Agreements (except as otherwise provided therein) and any dispute arising out of the relationship between the parties hereto, whether in contract, tort, equity or otherwise, shall be governed by the internal laws of the State of Illinois but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of the State of Illinois.

          8.   Binding Effect. This Amendment No. 7 shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns.

          9.   Headings. The headings listed herein are for convenience only and do not constitute matters to be construed in interpreting this Amendment No. 7.

          10.   Counterparts. This Amendment No. 7 may be executed in any number of counterparts, each of which shall be an original, but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of this Amendment No. 7 by telefacsimile shall have the same force and effect as the delivery of an original executed counterpart of this Amendment No. 7. Any party delivering an executed counterpart of this Amendment No. 7 by telefacsimile shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability or binding effect of such agreement.


3


          IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 7 to be duly executed and delivered by their authorized officers as of the day and year first above written.

AGENT

 

BORROWERS

 

 

 

WACHOVIA CAPITAL FINANCE
CORPORATION (CENTRAL), f/k/a Congress
Financial Corporation (Central), as Agent

 



SPARTAN STORES, INC.

 

 

 

By:

 


 

By:

 


 

 

 

 

 

Title:

 


 

Title:

 


 

 

 

 

 

SPARTAN STORES DISTRIBUTION, LLC
MARKET DEVELOPMENT CORPORATION
SPARTAN STORES ASSOCIATES, LLC
FAMILY FARE, LLC
MSFC, LLC
SEAWAY FOOD TOWN, INC.
THE PHARM OF MICHIGAN, INC.
VALLEY FARM DISTRIBUTING CO.
GRUBER'S REAL ESTATE LLC
PREVO'S FAMILY MARKETS, INC.
SPARTAN PROPERTIES MANAGEMENT,
INC. (f/k/a Buckeye Real Estate Management
Co.)
SPARTAN STORES FUEL, LLC

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

 

 

 

GUARANTORS

 

 

 

 

 

SPARTAN STORES HOLDING, INC.
SI INSURANCE AGENCY, INC.

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 





LENDERS

 

 

 

 

 

WACHOVIA CAPITAL FINANCE
CORPORATION (CENTRAL), f/k/a
Congress Financial Corporation (Central)

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

 

 

 

KEY BANK NATIONAL ASSOCIATION

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

 

 

 

BANK OF AMERICA N.A. (successor by
merger to Fleet Capital Corporation)

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

 

 

 

NATIONAL CITY BUSINESS CREDIT, INC.

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

 

 

 

GENERAL ELECTRIC CAPITAL
CORPORATION

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

 

 

 

FIFTH THIRD BANK, a Michigan Banking
Corporation

 

 

 

 

 

By:

 


 

 

 

 

 

 

Title:

 


 

 

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