Item 1.01. Entry into a Material Definitive Agreement.
Reserve Shortfall Letter to Invoice Purchase Agreement
On
Under the Letter, LSQ is permitted to make advances to the Company in
anticipation of LSQ Purchasing Accounts (as defined in the Agreement), to create
a reserve shortfall (an "Initial Anticipated Purchase Price Payment"). Further,
pursuant to the Letter, the Company is permitted to request, and LSQ may make,
additional advances during such time as a reserve shortfall exists (a
"Subsequent Anticipated Purchase Price Payment", and together with the Initial
Anticipated Purchase Price Payment, the "Anticipated Purchase Price Payments")
up to an aggregate of
The Letter and the Agreement are filed herewith as Exhibits 10.1 and 10.2, respectively, and are incorporated herein by reference, and the foregoing descriptions are qualified in their entirety by the terms contained therein.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
Exhibit Number Description 10.1 Reserve Shortfall Letter to Invoice Purchase Agreement, datedMay 17, 2022 10.2 Invoice Purchase Agreement, datedMarch 24, 2017 (incorporated by reference to Exhibit 10.44 to the Company's Quarterly Report on Form 10-Q filedMay 15, 2017 ) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
© Edgar Online, source