Speed Commerce, Inc. announced that it has entered into a forbearance agreement with Garrison Loan Agency Services LLC, as administrative agent and collateral agent and the lenders from time to time party thereto to the company's amended and restated credit and guaranty agreement dated as of November 21, 2014, as amended, in connection with the company's failure to comply with certain covenants under the credit agreement. Under the terms of the forbearance agreement, the company's lenders will refrain from exercising any rights or remedies that they may have under the credit agreement or otherwise in respect of the company's default of the terms of the credit agreement for 45 days, or until January 30, 2016, unless a breach of the forbearance agreement occurs. If the forbearance agreement should be breached, or is not extended, the company's lenders would then be entitled to exercise any of their rights under the credit agreement, including, but not limited to, the acceleration of all debt obligations under the credit agreement.

 There can be no assurance that the terms of the forbearance agreement will be extended, or that the company will not be in breach of the terms of the forbearance agreement prior to its expiration.