MRI INTERVENTIONS, INC. (OTCMKTS:MRIC) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02.
On June 6, 2019, the Company repaid in full all of the outstanding principal, together with all accrued and unpaid interest, of its 12% Second-Priority Secured Non-Convertible Promissory Notes due 2019 (the “Notes”). In connection with the foregoing, the Company repaid a total of approximately $2.0 million, which included principal and interest. Effective upon receipt of such payments, the Notes and other related loan documents, including the Security Agreement, dated as of March 25, 2014 (the “Security Agreement”), made between the Company and Landmark Community Bank, a Tennessee state-chartered bank, as collateral agent thereunder, were terminated and are of no further force or effect (except with respect to any obligations and provisions that survive the termination thereof) and all liens granted in connection with the Notes and other related loan documents, including the Security Agreement, were released.
