UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
September
29, 2006
Date
of
Report (Date of earliest event reported)
PAC-WEST
TELECOMM, INC.
(Exact
name of registrant as specified in its charter)
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California
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000-27743
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68-0383568
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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1776
W. March Lane, Suite 250
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Stockton,
California
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95207
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(Address
of principal executive offices)
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(Zip
Code)
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(209)
926-3300
(Registrant’s
telephone number, including area code)
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:
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
1.01 Entry into a Material Definitive Agreement
On
September 29, 2006,
Pac-West
Telecomm, Inc. (“Pac-West”), Qwest Communications Corporation (“QCC”) and Qwest
Corporation (“Qwest Corp” and together with QCC, “Qwest”) entered into a
Settlement and Restructuring Agreement (the “Agreement”).
Pursuant
to the Agreement, which recites that it is for good and valuable consideration,
QCC has agreed to pay to Pac-West approximately $6.5 million in lieu of
fulfilling a portion of QCC’s minimum purchase requirements to Pac-West totaling
approximately $8.3 million under existing arrangements that run through July
30,
2008. Pac-West received such payment on October 3, 2006. In addition, among
other things, the parties committed to equal monthly minimum purchase
requirements from one another through July 30, 2008, agreed to resolve certain
billing and other disputes and to release each other from certain claims.
Assuming
no increase in volume by Qwest above its continuing minimum commitment, this
Agreement is expected to result in an increase in revenues from Qwest of $5.4
million for 2006 and a decrease in revenues from Qwest of $4.6 million and
$2.6
million for 2007 and 2008, respectively, in each case, primarily attributable
to
Pac-West’s mature products.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
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PAC-WEST
TELECOMM, INC.
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(Registrant)
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Dated:
October 4, 2006
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By:
/s/ Michael L. Sarina
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Michael
L. Sarina
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Chief
Financial Officer
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