TRANS-LUX CORPORATION (OTCMKTS:TNLX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement
The information provided in Item 2.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On March 14, 2018, Trans-Lux Corporation and its wholly-owned subsidiaries Trans-Lux Display Corporation, Trans-Lux Midwest Corporation and Trans-Lux Energy Corporation, as borrowers, entered into an Eighth Amendment to the Credit and Security Agreement (“Eighth Amendment”) with SCM Specialty Finance Opportunities Fund, L.P. (“SCM”) as lender, dated July 12, 2016, as amended. The Eighth Amendment waives certain defaults and expected defaults relating to certain financial covenants through test periods ending March 31, 2018 and changes the applicable margin on the revolving loan from 4.0% over the prime rate to 6.0% over the prime rate.
The foregoing description of the Eighth Amendment is included to provide information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Eighth Amendment , which is filed as an exhibit hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
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Exhibit 10.1 |
Eighth Amendment to Credit and Security Agreement, dated as of March 14, 2018, by and among SCM Specialty Finance Opportunities Fund, L.P., Trans-Lux Corporation, Trans-Lux Display Corporation, Trans-Lux Midwest Corporation and Trans-Lux Energy Corporation. |
TRANS LUX Corp ExhibitEX-10.1 2 exhibit10_1.htm EXHIBIT 10.1 Exhibit 10.1 Exhibit 10.1 WAIVER AND EIGHTH AMENDMENT TOCREDIT AND SECURITY AGREEMENT THIS WAIVER AND EIGHTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this “Agreement”),…To view the full exhibit click here
About TRANS-LUX CORPORATION (OTCMKTS:TNLX)
Trans-Lux Corporation is a designer and manufacturer of digital signage display solutions. The Company designs, manufactures, distributes and services the elements of these systems that are real-time, programmable digital displays. These display systems utilize light emitting diode (LED) technologies. In addition, its LED lighting division provides lighting solutions that feature an offering of LED lighting technologies that provide facilities and public infrastructure with green lighting solutions. It operates through two segments: the Digital display sales division, and the Digital display lease and maintenance division. In North America, it markets digital display products in the United States and Canada using a combination of distribution channels, including direct sales representatives and a network of independent dealers and distributors. By working with software vendors and using the Internet, it offers information, content management software and display hardware.
