TRANS-LUX CORPORATION Item 1.01 Entry into a Material Definitive Agreement
The information provided in Item 2.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On
Under the Modification Agreement, Lender waives the Company's events of default,
including the Company's failure to maintain a certain minimum EBITDA calculation
for the three month period ending
The Modification Agreement also removes the covenant that requires the Borrowers
to attain a certain EBITDA amounts for the 6-month period ended
The Modification Agreement requires the payment of a modification fee of$2,500 .
The foregoing description of the Modification Agreement is included to provide information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Modification Agreement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
Exhibit 10.1 Modification Agreement, dated as of
Trans-Lux Corporation ,FairPlay Corporation ,Trans-Lux Canada Ltd. ,Trans-Lux Energy Corporation ,Trans-Lux Display Corporation ,Trans-Lux Investment Corporation andMidCap Business Credit LLC . 2
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