Alliance extends credit to Dec 31, 2023; gets $10M sub note; waives defaults

ALLIANCE ENTERTAINMENT HOLDING CORP

Credit facility termination date extended to December 31, 2023; new debt, liens, distributions restricted.
Borrowers obtained $10M subordinated note from Ogilvie; subordination agreement executed.
Lenders waived specified events of default including Fifth Third Equipment Lease defaults and 2023 Ogilvie Loan breaches.
Borrowers released lenders from all claims; additional restrictions on loans, advances, and acquisitions.
Conditions include amendment to Fifth Third Equipment Lease and grant of lien on additional collateral.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ALLIANCE ENTERTAINMENT HOLDING CORP amended Amendment Number Thirteen and Waiver (Amendment No. 13) with Bank of America, N.A. valued at Amendment and waiver to Credit Facility; termination extended to December 31, 2023 (effective 2023-09-13).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A.
Value: Amendment and waiver to Credit Facility; termination extended to December 31, 2023
Effective: 2023-09-13

Exact text from the filing

On September 13, 2023, certain subsidiaries of Alliance Entertainment Holding Corporation, a Delaware corporation (the "Company" or "Alliance"), as Borrowers thereunder (the "Borrowers"), entered into an Amendment Number Thirteen and Waiver ("Amendment No. 13") to the Loan and Security Agreement (the "Credit Facility") with Bank of America, N.A. (the "Agent"), as agent for the Lenders thereunder.

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Source: SEC EDGAR

accession 0001104659-23-100849

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