Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
SALEM MEDIA GROUP, INC. /DE/ amended Forbearance Agreement and Amendment Number Seven to Credit Agreement and Amendment Number One to Guaranty and Security Agreement with Wells Fargo Bank, National Association valued at Commitment reduced to $25,000,000; interest rate margin increased to Adjusted Term SOFR + 4.00% or b (effective 2023-08-07).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association
- Value
- Commitment reduced to $25,000,000; interest rate margin increased to Adjusted Term SOFR + 4.00% or b
- Effective
- 2023-08-07
Exact text from the filing
Forbearance Agreement and Amendment Number Seven to Credit Agreement and Amendment Number One to Guaranty and Security Agreement, dated as of August 7, 2023 Salem Media Group, Inc. (the “ Company ”) and certain subsidiaries of the Company party to the Credit Agreement and the Guaranty and Security Agreement (each as defined below) (together with the Company, the “ Loan Parties ”) entered into a Forbearance Agreement and Amendment Number Seven to Credit Agreement and Amendment Number One to Guaranty and Security Agreement, dated as of August 7, 2023 (the “ Seventh Amendment ”), with the lenders party thereto (the “ Lenders ”), and Wells Fargo Bank, National Association, as administrative agent (the “ Agent ”).
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