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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): MARCH 7, 2002
INTERVOICE-BRITE, INC.
(Exact name of Registrant as specified in its charter)
TEXAS 000-13616 75-1927578
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
17811 WATERVIEW PARKWAY
DALLAS, TEXAS 75252
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (972) 454-8000
NOT APPLICABLE
(Former name, former address and former fiscal year,
if changed since last report)
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ITEM 5. OTHER EVENTS.
Attached as Exhibit 99.1 is the Forbearance Agreement dated as of March 7,
2002, among the Registrant and its lenders, in which the lenders agree to
temporarily forbear (through March) from exercising certain rights arising from
the Registrant's non-compliance with one of four financial covenants contained
in that certain Credit Agreement dated as of June 1, 1999 among the Registrant,
Brite Voice Systems, Inc., Bank of America, National Association, as agent, and
the Lenders party thereto. The Registrant made its scheduled principal repayment
of approximately $5.0 million on February 28 and has not defaulted on any of its
payment obligations since the inception of the Credit Agreement.
The lenders and the Registrant will meet later this month to structure a
mutually acceptable arrangement for the remaining term of the Credit Agreement.
At the meeting, the Registrant plans to propose modifications to one or more of
the financial covenants and the schedule for principal repayments. While the
Registrant is optimistic that a mutually acceptable arrangement will be reached,
there is no guarantee that such an arrangement will be reached. If a mutually
acceptable arrangement is not reached, and the forbearance period is not
extended, the lenders have all rights available to them under the Credit
Agreement, including acceleration, termination or enforcement of security
interests.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
99.1 Forbearance Agreement dated as of March 7, 2002 by and among
InterVoice-Brite, Inc., Brite Voice Systems, Inc., Bank of
America, National Association, as agent, and the Lenders party
thereto.
1
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.
INTERVOICE-BRITE, INC.
By: /s/ ROB-ROY J. GRAHAM
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Rob-Roy J. Graham
Secretary and Chief Financial Officer
Date: March 11, 2002
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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99.1 Forbearance Agreement dated as of March 7, 2002 by and among
InterVoice-Brite, Inc., Brite Voice Systems, Inc., Bank of
America, National Association, as agent, and the Lenders party
thereto