Resource America 8-K 2012
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Pursuant to Section 13 or 15(D) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):January 13, 2012
Resource America, Inc.
(Exact Name of Registrant as Specified in Charter)
Registrant's telephone number, including area code: 215-546-5005
(Former Name or Former Address, if Changed Since Last Report)
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:
On January 13, 2012, Resource Capital Investor, Inc. and Resource Properties XXX, Inc. (collectively the “Borrowers”), each an indirect wholly-owned subsidiary of Resource America, Inc., entered into a Second Loan Modification Agreement (the “Amendment”) with Republic First Bank (the “Bank”) with respect to an existing $3.5 million secured line of credit (the “Facility”) of which Resource America, Inc. acts as guarantor.
The Amendment provides for the following:
The Amendment also reduces from five business days to two business days the amount of time that the Borrowers have to eliminate any excess in amounts outstanding under the Facility that are over the Facility’s borrowing base.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment which is attached as an exhibit and incorporated into this report by reference.
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 hereunto duly authorized.