Global Power Equipment Group Inc. (OTCMKTS:GLPW) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
Global Power Equipment Group Inc. (the “Company”) previously disclosed that it entered into certain amendments to its Credit Agreement, dated February 21, 2012, with Wells Fargo Bank, National Association, as Administrative Agent, U.S. Bank National Association, as Syndication Agent, and the various financial institutions (the “Lenders”) party thereto (as amended or supplemented from time to time, the “Credit Agreement”). On May 11, 2017, the Company entered into a Sixteenth Amendment to the Credit Agreement and Eleventh Amendment to the Limited Waiver Agreement (the “New Amendment”).
Under the New Amendment, the Lenders have, among other things, agreed to extend the maturity date of the Credit Agreement from May 15, 2017 to May 31, 2017, unless earlier terminated to its terms, and extend the temporary waiver of certain known existing and anticipated events of default for a limited period of time ending on the earlier of May 31, 2017 or the occurrence of any waiver termination event set forth in the New Amendment.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
10.1 Sixteenth Amendment to Credit Agreement and Eleventh Amendment to Limited Waiver Agreement, dated as of May 11, 2017, by and among the Company, Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender and Issuing Lender, and the various financial institutions party thereto as lenders.