Brief: Team Inc And Lenders Entered Amendment To Term Loan Credit Agreement

Team

25/10/2021 22:12

Oct 25 (Reuters) - Team Inc  TISI.N :
    * TEAM INC - ON OCT 19, CO, LENDERS ENTERED AMENDMENT NO. 1
TO
TERM LOAN CREDIT AGREEMENT, DATED DEC 18, 2020
    * TEAM - AMENDMENT NO. 1 DEFERS AN OCT 19, 2021 INTEREST
PAYMENT
UNTIL OCT 29, 2021 & PROVIDES LENDERS WITH ADDITIONAL
INFORMATION RIGHTS
    * TEAM - AMENDMENT NO. 1 REQUIRES CO USE COMMERCIALLY
REASONABLE
EFFORTS TO APPOINT ADDITIONAL INDEPENDENT DIRECTOR TO BOARD WHO
IS ACCEPTABLE TO AGENT
    * TEAM - AMENDMENT NO. 1 TIGHTENS CERTAIN NEGATIVE COVENANTS
INCLUDED IN CREDIT AGREEMENT UNTIL DEFERRED INTEREST IS MADE
CURRENT

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