UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
JUNE 23, 2006
Date of Report (Date of earliest event reported)
COLONIAL COMMERCIAL CORP.
(Exact name of Registrant as Specified in Charter)
NEW YORK 1-6663 11-2037182
(State or other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
275 WAGARAW ROAD, HAWTHORNE, 07506
NEW JERSEY
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: 973-427-8224
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
The Company's subsidiaries are party to a Credit and Security Agreement
dated as of July 28, 2004 ("Agreement") with Wells Fargo Bank, National
Association, acting through its Wells Fargo Business Credit operating division,
as successor to Wells Fargo Business Credit, Inc.
Effective June 23, 2006, the Agreement was amended to extend the "Original
Maturity Date" (as defined) from August 1, 2009 to August 1, 2010.
The description of the amendment is qualified by reference to Exhibit 10.02
attached as an exhibit hereto.
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
Reference is made to Item 1.01 for information relating to an amendment to
a Credit and Security Agreement. This information is incorporated herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit No. Description
10.01 Credit Security Agreement dated July 28,
2004 between American/Universal Supply,
Inc., The RAL Supply Group, Inc. and
Universal Supply Group, Inc. to Wells
Fargo Business Credit, Inc. ("Credit
Security Agreement"). Incorporated herein
by reference from Exhibit 10.1 to the
Company's Form 10-Q filed on August 16,
2004.
10.02 First Amendment to the Credit Security
Agreement, filed herewith.
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 hereunto duly authorized.
COLONIAL COMMERCIAL CORP.
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(Registrant)
Date: June 27, 2006 /s/ William Salek
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William Salek
Chief Financial Officer
INDEX TO EXHIBITS
Exhibit No. Description
10.01 Credit Security Agreement dated July 28,
2004 between American/Universal Supply,
Inc., The RAL Supply Group, Inc. and
Universal Supply Group, Inc. to Wells
Fargo Business Credit, Inc. ("Credit
Security Agreement"). Incorporated herein
by reference from Exhibit 10.1 to the
Company's Form 10-Q filed on August 16,
2004.
10.02 First Amendment to the Credit Security
Agreement, filed herewith.