SAExploration Holdings, Inc. (NASDAQ:SAEX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Amendments to Forbearance Agreements
As previously disclosed, on September 23, 2019, SAExploration Holdings, Inc. (the Company) and certain of its subsidiaries entered into a series of forbearance agreements with:
On December 31, 2019, the Company and certain of its subsidiaries entered into amendments to the Forbearance Agreements (together, the Forbearance Agreement Amendments). to the Forbearance Agreement Amendments, the Forbearing Parties agreed to: (i) extend the effectiveness of their agreement to refrain from exercising their rights and remedies under the Debt Instruments and applicable law (the Forbearance) until the earlier of (a) January 27, 2020, and (b) the date the Forbearance Agreements otherwise terminate in accordance with their terms; and (ii) make certain amendments to the existing and potential defaults covered by the Forbearance.
The foregoing description of the Forbearance Agreement Amendments is a summary only and is qualified in its entirety by reference to the complete text of Forbearance Agreement Amendments attached as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3 hereto, each incorporated herein by reference.
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