secwatch.observer — SEC 8-K summary
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Issuer:     BLUE DOLPHIN ENERGY CO (BDCO)
CIK:        0000793306
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001654954-23-006570
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Dolphin Pipe Line modifies $8.3M note with Lazarus, deferring principal to 2025
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- BDPL enters Payment Agreement with Lazarus Energy to modify $8,307,555 promissory note.
- Interest-only payments of $0.05M monthly from May 2023 through April 2025; then ~$0.4M P&I through April 2027.
- Interest rate set at 8.00% per year effective May 9, 2023; first $0.05M payment made May 15, 2023.
- Lazarus forbears from remedies on existing defaults if payments current; 30-day cure period after missed payment.
- Missed payment exceeding 13 days automatically voids modified terms, reinstating original note provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/793306/000165495423006570/0001654954-23-006570-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/793306/000165495423006570/bdco_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-006570

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