Item 1.01 Entry into a Material Definitive Agreement
OnJanuary 20, 2023 ,Greenidge Generation Holdings, Inc. ("Greenidge") and its subsidiariesGreenidge Generation LLC , GTX GEN 1Collateral, LLC ,GSC Collateral LLC , andGNY Collateral LLC entered into a Limited Waiver and Amendment of Loan Documents (the "NYDIG Waiver") withNYDIG ABL LLC ("NYDIG") andNYDIG Trust Company LLC ("NYDIG Trust " and collectively with NYDIG, the "Lender Parties"). The Lender Parties and Greenidge's subsidiaries named above are parties to certain Master Equipment Finance Agreements and related loan documentation (the "Loan Documents"). Pursuant to the Loan Documents, Greenidge's subsidiaries owed payments of principal and interest in the amount of approximately$1.0 million due onDecember 25, 2022 , and of approximately$4.4 million due onJanuary 10, 2023 . Pursuant to the NYDIG Waiver, the Lender Parties agreed that failure to pay theDecember 25 payment and theJanuary 10, 2023 , payment when due would not be an event of default if that payment were made in full byJanuary 27, 2023 . The NYDIG Waiver left the due dates for other scheduled payments under the Loan Documents unaffected. OnJanuary 20, 2023 ,Greenidge and B Riley Commercial Capital, LLC ("BRCC") entered into a Waiver and Acknowledgement Letter (the "B Riley Waiver") regarding the terms of the Amended and Restated Bridge Promissory Note datedAugust 10, 2022 executed by Greenidge in favor of BRCC (the "BRCC Note"). Under the B Riley Waiver, BRCC agreed that Greenidge's failure to pay the approximately$1.5 million payments of principal and interest due under the BRCC Note on each ofDecember 20, 2022 , andJanuary 20, 2023 , would not be an event of default if that payment were made in full by the earlier ofJanuary 27, 2023 or the date that Greenidge and BRCC enter into a mutually satisfactory amendment to the BRCC Note addressing, among other things, future amortization requirements under the BRCC Note. The waiver left the due dates for other scheduled payments under the BRCC Note unaffected. The foregoing description of the NYDIG Waiver and the B Riley Waiver (collectively, the "Waivers") does not purport to be complete and is qualified in its entirety by reference to the full text of the Waivers, which are attached to this Current Report on Form 8-K as Exhibit 10.1 and Exhibit 10.2, which are incorporated by reference herein.
Item 9.01 - Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
Exhibit No. Description 10.1 Limited Waiver and Amendment of Loan Documents
dated as of
by and amongGreenidge Generation Holdings, Inc. ,
GTX GEN 1Collateral, LLC ,GSC Collateral LLC , and
NYDIG ABL LLC andNYDIG Trust Company LLC 10.2 Waiver and Acknowledgement Letter dated as of
Greenidge Generation Holdings, Inc. andB Riley Commercial Capital, LLC . 104 Cover Page Interactive Data File (embedded within
the Inline XBRL document)
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