Sphere Entertainment unit defaults on $829M term loan; enters forbearance until Nov 8

Sphere Entertainment Co.

MSGN Holdings missed $829M term loan payment due Oct 11, 2024, triggering Event of Default.
Forbearance from lenders; no remedy exercise until earlier of Nov 8 or certain termination events.
Borrower acknowledges $2.24M in unpaid interest and $22.9K in commitment fees as of Oct 11.
Revolving Credit Commitments terminated as of Oct 11, 2024.
Subsidiary reaffirms all obligations; no defenses or counterclaims against lenders.

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