FTE NETWORKS, INC. (OTCMKTS:FTNW) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
On March 30, 2019, FTE Networks, Inc. (the “Company”) and certain of its wholly-owned subsidiaries (collectively, the “Company”) obtained and entered into a Forbearance Agreement (the “Forbearance Agreement”) to that certain credit agreement, by and among with Jus-Com, Inc., an Indiana corporation and subsidiary of FTE (Jus-Com), Benchmark Builders, Inc., a New York corporation and subsidiary of FTE, certain Credit Parties (as defined therein), Lateral Juscom Feeder LLC (“Lateral”) and several lenders party thereto (together with Lateral, the “Lenders”) dated October 28, 2015 (as amended, the “Credit Agreement”).
to the Forbearance Agreement, the Lenders have agreed to forbear from exercising its default-related rights and remedies under the Credit Agreement through April 5, 2019, which initial forbearance period may be extended through April 12, 2019 provided, among other things, the parties execute a term sheet relating to the restructuring of certain debts under the Credit Agreement prior to April 5, 2019.
The foregoing description of the Forbearance Agreement is not complete and is qualified by reference to the complete document, which is attached hereto as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
FTE Networks, Inc. Exhibit
EX-10.1 2 ex10-1.htm EXECUTION VERSION FORBEARANCE AGREEMENT FORBEARANCE AGREEMENT (“Agreement”) dated as of March 30,…
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About FTE NETWORKS, INC. (OTCMKTS:FTNW)
FTE Networks, Inc., (FTE Networks) is a provider of international and regional telecommunications and technology systems, and infrastructure services. The Company’s segments are Telecommunications and Staffing. It also offers managed information technology, telecommunications services, subscriber-based services and staffing solutions through its subsidiaries, Jus-Com, Inc. (doing business as FTE Network Services), FTE Wireless, LLC and Focus Venture Partners, Inc. (doing business as FVP Worx). Its services include engineering consulting, design, installation, maintenance and emergency response in various categories, including cabling, equipment installation and configuration, rack and stack, wiring build-outs, infrastructure build-outs, direct current power installation, online service provider/Internet service provider fiber placement, fiber cable splicing and testing. In the wireless space, it provides engineering, design, installation and upgrade of wireless communications networks.