SECURITIES AND EXCHANGE
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Report (Date of earliest event reported) May 19, 2009
(Exact name of registrant as
specified in its charter)
or other jurisdiction of incorporation)
Employer Identification No.)
109 Northpark Boulevard,
of principal executive offices)
telephone number, including area
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligations of the registrant under any of the following
communications pursuant to Rule 425 under the Securities Act (17 CFR
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
1.01 Entry into a Material Definitive Agreement.
19, 2009, SCP Distributors LLC, and Superior Commerce LLC entered into Amendment
No. 14 to the Receivables Purchase Agreement among JPMorgan Chase Bank, N.A.
f/k/a Bank One, NA (Main Office Chicago) and JS Siloed Trust. The
amendment amends certain terms of the existing Receivables Purchase Agreement,
including the following: extending the maturity date to August 19, 2009;
increasing required reserves used in calculating the available funding
amount; and loosening the delinquency and default trigger ratios. In
addition the Company has reduced the size of the facility from $75.0 million to
$25.0 million. Due to the Company's declining debt levels as a result
of its cashflow generation strategies, the Company does not at this time intend
to renew the Receivables Facility.
description of the amendment set forth above is qualified by reference to the
amendment, which is filed as Exhibit 10.1 hereto.
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement.
information provided in Item 1.01 above is incorporated herein by
Item 9.01 Financial Statements
No. 14 to Receivables Purchase Agreement dated as of May 19, 2009, among
SCP Distributors LLC, Superior Commerce LLC, JS Siloed Trust, and JPMorgan
Chase Bank, N.A. f/k/a Bank One, NA (Main Office
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 hereunto
By: /s/ Mark W.
Mark W. Joslin
Vice President and Chief Financial
May 19, 2009