Global Power Equipment Group Inc. (OTCMKTS:GLPW) Files An 8-K Entry into a Material Definitive Agreement
Item 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 February21, 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 May31, 2017, the Company entered into a
Seventeenth Amendment to the Credit Agreement and Twelfth
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
May31, 2017 to June12, 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 June12, 2017 or the occurrence of any
waiver termination event set forth in the New Amendment.
Item 9.01 Financial Statements and
Exhibits.
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(d) |
|
Exhibits |
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10.1 |
Seventeenth Amendment to Credit Agreement and Twelfth |
About Global Power Equipment Group Inc. (OTCMKTS:GLPW)
Global Power Equipment Group Inc. is a design, engineering and manufacturing company providing an array of equipment and services to the global power infrastructure, energy and process industries. The Products segment includes two primary product categories: Mechanical Solutions, which designs, engineers and manufactures a portfolio of equipment for utility-scale natural gas turbines, and Electrical Solutions, which provides custom-configured electrical houses and generator enclosures for various industries. The Services segment provides lifecycle maintenance, repair, on-site specialty support, outage management, construction and fabrication services for the power generation, industrial, chemical/petrochemical processing, and oil and gas industries. Its products portfolio span from auxiliary equipment for gas turbines to small, high alloy parts, such as seals, shims and brackets. It also offers a range of services that have been managing plant asset value. Global Power Equipment Group Inc. (OTCMKTS:GLPW) Recent Trading Information
Global Power Equipment Group Inc. (OTCMKTS:GLPW) closed its last trading session 00.00 at 4.05 with shares trading hands.