Item 1.01. Entry into a Material Definitive Agreement.
Consents Under Credit Agreements
OnMay 12, 2023 ,F45 Training Holdings Inc. , aDelaware corporation (the "Company"), as borrower, the lenders party thereto andJPMorgan Chase Bank, N.A ., as administrative agent and Australian Security Trustee, entered into a Consent Under Amended and Restated Credit Agreement, datedMay 12, 2023 (the "JPM Credit Agreement Consent") under the Amended and Restated Credit Agreement dated as ofAugust 13, 2021 , as amended by that certain First Amendment to Amended and Restated Credit Agreement dated as ofDecember 20, 2021 , as amended by that certain Second Amendment to Amended and Restated Credit Agreement dated as ofMay 13, 2022 and as amended by that certain Third Amendment to Amended ad Restated Credit Agreement dated as ofFebruary 14, 2023 (as the same may be amended, restated, supplemented, or otherwise modified from time to time, the "JPM Credit Agreement"). In addition, onMay 12, 2023 , the Company, as borrower, the lenders party thereto andAlter Domus (US) LLC , entered into a Consent Under Subordinated Credit Agreement, datedMay 12, 2023 (collectively with the JPM Credit Agreement Consent, the "Credit Agreement Consents") under the Credit Agreement, dated as ofFebruary 14, 2023 , by and among the Company, as borrower, the other loan parties party thereto, the lenders party thereto andAlter Domus (US) LLC , as administrative agent and as Australian security trustee (collectively with the JPM Credit Agreement, the "Credit Agreements"). Pursuant to the Credit Agreement Consents, the parties to the Credit Agreements have agreed to extend the deadlines under the Credit Agreements with respect to delivery of the Company's audited financial statements for the year endedDecember 31, 2022 and financial statements for the quarter endedMarch 31, 2023 (collectively, the "Financial Statements"), together with the accompanying compliance certificates, subject to the terms and conditions set forth in the Credit Agreement Consents. As the Company reported in its Form 12b-25 filed with theSecurities and Exchange Commission onMarch 16, 2023 and its Form 12b-25 filed with theSecurities and Exchange Commission onMay 10, 2023 , the Company has been unable to complete the Financial Statements because the Company and its independent registered public accounting firm require time to complete certain items with respect to the Company's financial statement preparation and review processes, including management's assessment of the effectiveness of the Company's internal controls over financial reporting for the periods covered by the Financial Statements. The Company is not currently in a position to complete the Financial Statements, or file its Annual Report on Form 10-K for the year endedDecember 31, 2022 (the "2022 Form 10-K") or its Quarterly Report on Form 10-Q for the period endedMarch 31, 2023 (the "Form 10-Q"), but the Company continues to work expeditiously to conclude its review and will file the 2022 Form 10-K and the Form 10-Q as soon as practicable. The foregoing summary of the Credit Agreement Consents does not purport to be a complete description of the Credit Agreement Consents and is qualified in its entirety by reference to the full text of the Credit Agreement Consents, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description Consent Under Amended and Restated Credit Agreement, by and among F45 10.1Training Holdings Inc. , the other Loan Parties
thereto, the Lenders party
thereto, andJPMorgan Chase Bank, N.A ., as
Administrative Agent and Australian
Security Trustee, datedMay 12, 2023 . Consent Under Subordinated Credit Agreement, dated as ofFebruary 14, 2023 , 10.2 by and amongF45 Training Holdings Inc. , as
borrower, the lenders party
thereto andAlter Domus (US) LLC , as administrative
agent for the secured
parties., datedMay 12, 2023 . 104 Cover Page Interactive Data File (embedded within
the Inline XBRL document).
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