Airspan Networks Holdings Inc.

03/28/2024 | Press release | Distributed by Public on 03/28/2024 04:29

Material Agreement - Form 8-K

Item 1.01. Entry into a Material Definitive Agreement.

On March 25, 2024, Airspan Networks Holdings Inc., a Delaware corporation (the "Company"), entered into Amendment No. 1 to Limited Waiver and Consent, Sixth Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents (the "Credit Agreement Amendment"), among the Company, Airspan Networks Inc., a Delaware corporation ("ANI"), certain subsidiaries of the Company, as guarantors, the lenders party thereto (collectively, the "Lenders") and DBFIP ANI LLC, as administrative agent and collateral agent (together with its successors and assigns in such capacities, the "CA Agent"). The Credit Agreement Amendment amends that certain Limited Waiver and Consent, Sixth Amendment and Restatement of Credit Agreement and Reaffirmation of Loan Documents dated March 7, 2024 (the "Sixth Amendment and Restatement Agreement") among the Company, ANI certain subsidiaries of the Company, as guarantors, the Lenders, and the CA Agent. Under the Credit Agreement Amendment, the Lenders party thereto agreed to extend to April 7, 2024 their period of forbearance from exercising their rights and remedies as a result of certain events of default.

On March 25, 2024, the Company also entered into Amendment No. 1 to Limited Waiver and Consent, Seventh Amendment to Senior Secured Convertible Note Purchase and Guarantee Agreement and Reaffirmation of Note Documents (the "NPA Amendment") among the Company, ANI, certain subsidiaries of the Company, as guarantors, the purchasers party thereto (the "Purchasers") and DBFIP ANI LLC, as the administrative and collateral agent and trustee (the "NPA Agent"). The NPA Amendment amends that certain Limited Waiver and Consent, Seventh Amendment to Senior Secured Convertible Note Purchase and Guarantee Agreement and Reaffirmation of Note Documents dated March 7, 2024 (the "Seventh Amendment to NPA") among the Company, ANI, certain subsidiaries of the Company, as guarantors, the Purchasers, and the NPA Agent. Under the NPA Amendment, the Purchasers agreed to extend to April 7, 2024 their period of forbearance from exercising their rights and remedies as a result of certain events of default.

The foregoing descriptions of the Credit Agreement Amendment and the NPA Amendment do not purport to be complete and are qualified in their entirety by reference to the full text of these documents, which are filed as Exhibits 10.1 and 10.2, respectively, hereto and are incorporated herein by reference.