Item 1.01. Conclusion of a significant definitive agreement.
The Amending Agreement modifies and amends the Loan Agreement to provide, among other things, the division of the financial covenants of the Loan Agreement, which remain unchanged, into two categories: (i) the financial covenants used to scale the amount maximum principal available to the Company on the Determination Date (as determined by the Lender in its sole discretion), and (ii) the financial covenants to be maintained by the Company during the term of the Loan Agreement.
The above summary of the Amended Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Amending Agreement, which will be filed as an attachment to the Company’s Quarterly Report on Form 10-Q for the quarter ended
Section 2.03. Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
The information set forth above in Section 1.01 of this Current Report on Form 8-K is incorporated by reference into this Section 2.03.
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