Ann: Pioneer enters Standstill Agreement with Senior Financiers, page-10

Spider5, I think you are reading too much into this.
The Cambridge Business dictionary describes a standstill agreement as "an agreement between two people or companies in which the person or company lending money agrees that the loan need not be paid back for a period of time".
Plus, today's announcement actually states - quote - "the Senior Financiers will not take any action in relation to the existing defaults for a standstill period to 14 October 2019, unless extended." The words 'unless extended' are important.

This to me shows that the financiers are working with PNC to resolve these matters and appear to be giving them the time to do so.
Add to this two further comments in the announcement:
Firstly, "The Company continues to trade in the ordinary course of business" and
secondly, " including the continued investment in its forward flow debt portfolio programme from free cashflow". If the lights were about to go out I very much doubt whether the financiers would allow this.