secwatch.observer — SEC 8-K summary
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Issuer:     National CineMedia, Inc. (NCMI)
CIK:        0001377630
Form:       8-K
Filed at:   2023-01-19T23:59:59+00:00
Accession:  0001377630-23-000004
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NCMI amends credit agreements to add back professional fees in liquidity calculation
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- Minimum Liquidity Requirement remains $55M; professional fees paid after Jan 6, 2023, can be added to unrestricted cash.
- Addback caps: $200K for local restructuring counsel and $250K for financial advisor retainer.
- Breach of liquidity covenant has 5-business-day cure period, limited to 2 cures from Amendment No. 2 effective date.
- Bi-weekly reporting of professional fees and addback amounts must be furnished to lenders and their advisors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1377630/000137763023000004/0001377630-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1377630/000137763023000004/ncmllc-20230117.htm
  HTML page:      https://secwatch.observer/filing/0001377630-23-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer