debt
confidence high
sentiment neutral
materiality 0.60
Galaxy Gaming obtains waiver for credit agreement default on Isle of Man account limits
Galaxy Gaming, Inc.
- Default occurred due to Isle of Man deposit accounts exceeding $1M in Nov 2021, Dec 2021, Jan 2022, and Feb 2022; now cured.
- Required Lenders waived the Existing Default for the Specified Compliance Periods; no other credit agreement terms modified.
- Company represented no other Defaults or Events of Default are continuing, and released lenders from claims arising before waiver.
- Credit Agreement remains in full force and effect; future compliance required.