Scandoil  

Tuscany International announces forbearance agreement with senior lenders


Published Jan 28, 2014
Tuscany International Drilling Inc.

Tuscany International Drilling Inc. has entered into a forbearance agreement (the "Forbearance Agreement") with its senior secured lenders ("Senior Lenders") under the third amended and restated credit agreement (as amended, the "Credit Agreement") dated December 23, 2013.

Pursuant to the Forbearance Agreement, the Senior Lenders have agreed to forbear from exercising their rights or remedies in connection with certain existing events of default under the Credit Agreement, including realizing on their security granted in connection with the Credit Agreement, until the earlier of February 3, 2014, or the occurrence of an additional event of default within the meaning of the Forbearance Agreement (the "Forbearance Period").

Tags: Tuscany International Drilling Inc.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml