Item 2.04 Triggering Events that Accelerate or Increase a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement.
The Company elected not to make the
As previously disclosed in our Current Report on Form 8-K filed on
• onJuly 29, 2020 , executed a Second Amendment (the "Second Amendment") to that Limited Forbearance Agreement under the Credit Agreement with certain lenders party thereto (the "Lenders"), and Royal Bank of Canada, as Administrative Agent (the "Agent") andIssuing Bank (as amended, the "Lender Forbearance Agreement"), pursuant to which the Lenders agreed (among other things), subject to the terms and conditions thereof, during the forbearance period set forth therein, to forbear from exercising any remedies under the Credit Agreement with respect to the event of default resulting from the failure of the Company or any of its Subsidiaries to make the August Deficiency Payment; and • effective as ofJuly 30, 2020 , executed a Forbearance and Waiver Agreement the "Noteholder Forbearance Agreement") with the holders of at least 75% of the principal amount of outstanding Notes (the "Initial Consenting Noteholders"), pursuant to which the Initial Consenting Noteholders agreed, subject to the terms and conditions thereof, during the forbearance period set forth therein, to forbear from exercising certain remedies under the Indenture for any default or event of default, and to waive any such event of default, resulting from any failure by the Company to make the August Deficiency Payment.
The forbearance period under the Lender Forbearance Agreement is scheduled to
expire at
The forbearance period under the Noteholder Forbearance Agreement is scheduled
to expire at
The foregoing descriptions of the Lender Forbearance Agreement, the Second Amendment and Noteholder Forbearance Agreement are summaries only, do not purport to be complete, and are qualified in their entirety by reference to:
• the complete text of the Lender Forbearance Agreement, which was filed as Exhibit 99.1 to our Current Report on Form 8-K filed onJuly 15, 2020 ; • the complete text of the First Amendment to the Forbearance Agreement, which was filed as Exhibit 99.1 to our Current Report on Form 8-K filed onJuly 27, 2020 ; • the complete text of the Second Amendment, which is filed as Exhibit 99.1 to our Current Report on Form 8-K filed onJuly 31, 2020 ; and • the complete text of the Noteholder Forbearance Agreement, which is filed as Exhibit 99.2 to our Current Report on Form 8-K filed onJuly 31, 2020 ;
each of which is incorporated by reference herein.
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