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1 February, 2006

PRIMEDEX HEALTH SYSTEMS INC Files SEC form 8-K, Entry into Material Agreement

Form 8-K for PRIMEDEX HEALTH SYSTEMS INC

1-Feb-2006

Entry into Material Agreement

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

On January 31, 2006, we executed an agreement with an institutional lender to which such lender provided us with a commitment for a $160 million senior secured credit facility to be used to refinance all of our existing indebtedness (except for $16.1 million of outstanding subordinated debentures and $6.1 million of capital lease obligations). The commitment provides for a $15 million five year revolving credit facility, an $85 million term loan due in five years and a $60 million second lien term loan due in six years. The loans are subject to acceleration on February 28, 2008, unless we have made arrangements to discharge or extend our outstanding subordinated debentures by that date. The loans are essentially payable interest only monthly at varying rates yet to be finalized to be based upon market conditions.

Finalization of the credit facility is subject to customary conditions, including legal due diligence and final documentation which is scheduled for completion on or about March 7, 2006.

1 February, 2006