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Thread: Form 8-K for YRC WORLDWIDE INC.

  1. #1
    Taking A Stand!!!

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    Default Form 8-K for YRC WORLDWIDE INC.

    On February 13, 2014, YRC Worldwide Inc. (the "Company") and certain of its domestic restricted subsidiaries, as guarantors (the "Term Guarantors"), entered into a Credit Agreement (the "Term Credit Agreement") with various Lenders party thereto (the "Term Lenders"), and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent and Collateral Agent (the "Term Agent"). On the same date, the Company repaid in full its outstanding obligations under (or otherwise collateralized such obligations), and terminated, the Amended and Restated Credit Agreement, dated July 22, 2011 (the "Terminated Term Loan Credit Agreement").
    Summary of YRC WORLDWIDE INC. - Yahoo! Finance
    slavenomore likes this.

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    On A Mission

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    All kind of due dates and such in there. Useful info and should remain a sticky thread so we have reference when future flimflams come up. Facts are here they got the money and redid the deal..

  3. #3
    hangin on

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    You know it all legit if it's in the Cayman Islands , Right ?

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    Quote Originally Posted by ayrcguy View Post
    You know it all legit if it's in the Cayman Islands , Right ?
    Cayman Islands, legit or not we have something to go on. And we also have an SEC filing which states that we have guys who will be updated quarterly or so. And if they are OUR guys WE should have some kind of say or influence to have that info if we want it or possibly have them provide it. OUR guy means they are paid to serve us and we should be able to hold them to that.

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    hangin on

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    You mean harry Wilson ? I don't think he is on our side.

  6. #6
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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    Quote Originally Posted by ayrcguy View Post
    You mean harry Wilson ? I don't think he is on our side.
    No it says the national negotiating committee who should be working for us. I'll find it and post it here.
    They got their refinancing and lower payments now is the time to start looking into prevention and fighting back best we can while still together so it don't happen again too soon.
    We can't sit here crying about what happened. what good will it do?
    Fight what we can. And use the powers we have to do it. One is that we as members have some on the board and contractually obliged to watch the finances...if we don't watch and guide nobody will.

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    YRC Worldwide - Current Report

    #10 and #11 in here says to me that we should have access.

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    10. Subcommittee To Monitor And Maintain Compliance . For purposes of monitoring and maintaining compliance with the terms of this Extension Agreement and the Restructuring Agreement, the parties will continue the four person Subcommittee previously established consisting of the Chairman of TNFINC or his designee, the Co-Chairman of TNFINC or his designee, the Employer’s President or his designee and another officer of Employer or his designee. The Subcommittee shall meet quarterly or more frequently if necessary, to exchange and discuss pertinent data, including relevant payroll and related information, the reinvestment of capital into the Employer and any and all subjects related to the financial operations of the Employer. The Subcommittee’s decision regarding the interpretation of this Extension Agreement and the Restructuring Agreement shall be final and binding, unless otherwise provided in this Extension Agreement or the Restructuring Agreement. The Subcommittee may retain financial consultants to assist them in performing their obligations under this Agreement.
    Last edited by slavenomore; 02-22-2014 at 08:48 AM.

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    I just tried about 10 times to post pararapph for #11 in there but it only wants to paste the whole mou and I give up..maybe later. Frustrating!!!

  10. #10
    I Am Rocking Now

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    Default Re: Form 8-K for YRC WORLDWIDE INC.

    Quote Originally Posted by slavenomore View Post
    I just tried about 10 times to post pararapph for #11 in there but it only wants to paste the whole mou and I give up..maybe later. Frustrating!!!
    11. Access to Employer Financial Records . Within 75 days following the completion of each of YRC Worldwide Inc.’s fiscal years beginning in 2014, the Employer shall submit annual consolidating financial statements for such fiscal year, with a comparison to the prior fiscal year, in the format consistent with the detailed long term financial model reviewed in connection with negotiation of this Extension Agreement and which reconcile to YRC Worldwide Inc.’s Form 10-K for such fiscal year to the Subcommittee described in Section 10, and TNFINC reserves the right on an annual basis to examine records of the Employer reasonably required to monitor Employer compliance with this Extension Agreement and the Restructuring Agreement or utilize an independent auditor or financial consultant of its choice to do the same. Notwithstanding any request to the contrary, given applicable privacy laws and policies and for the protection of its bargaining and non-bargaining unit employees alike, the Employer will not share employee specific compensation information with the Subcommittee, TNFINC, the Union or any auditor or financial consultant other than the compensation information that Employer is required to publicly provide pursuant to Securities and Exchange Commission regulation. As a condition of being provided such statements, books and audit, TNFINC and the Subcommittee (and any accountant, auditor or financial consultant engaged on its behalf) must agree to maintain the confidentiality of any Employer financial statements and reports for the protection of the Employer, and to execute a reasonable confidentiality agreement if the Employer requests in such form as the Employer may reasonably require.
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