Sphere Entertainment extends debt forbearance on $829M term loan until Jan 10, 2025

Sphere Entertainment Co.

MSGN Holdings L.P., subsidiary of Sphere, defaults on $829M term loan due Oct 11, 2024; interest unpaid $4.8M.
Forbearance extended from Dec 20 to Jan 10, 2025, with possible further extension by Required Supporting Lenders.
Lenders agree not to exercise remedies during forbearance; termination events include failure to comply, new defaults, or discussion end.
Key restrictions: no new liens, limited debt, no restricted payments (except $200K employee comp cap).
Loan Parties acknowledge no defenses and ratify credit documents; Agent has perfected security interest.

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