The Forbearance Agreement is intended to assist with the Company’s liquidity position, to provide stability and to allow ongoing trading while the terms of the interim funding are finalised. Speedcast continues to progress discussions with its lender group to implement an interim funding package to allow the Company to continue operating and progress its recapitalisation and restructuring to reduce the overall leverage of the Company.The Forbearance Agreement is scheduled to expire on 17 April 2020, and includes customary provisions that require Speedcast to continue to operate as far as possible, in the ordinary course.
What’s that meant as an ongoing business ?
Ann: Speedcast Signs Forbearance Agreement with Lender Group, page-3
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