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Performance Sports Group D.I.P. Agreement Amended

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According to documents filed with the SEC, Performance Sports Group entered into (i) Amendment No. 1 to its super-priority D.I.P. term loan credit agreement to its super-priority term loan credit agreement (dated October 31, 2016) by and among Performance Sports Group, the subsidiary guarantors, the lenders and 9938982 Canada and (ii) Amendment No. 1 to its super-priority D.I.P. ABL credit agreement for the super-priority ABL credit agreement (dated October 31, 2016) by and among Performance Sports Group, Bauer Hockey, the lenders and Bank of America.

The amendment notes, “Subject to the satisfaction of the conditions precedent set forth in Section 4, Section 8.01(b) of the Credit Agreement is hereby amended by (i) replacing 15 where it appears therein with 30 and (ii) inserting ‘The Administrative Agent may in its sole and exclusive discretion extend or waive the period within which the monthly financial statements required under this section must be furnished to the Administrative Agent’ at the end of the section so that Section 8.01(b) of the Credit Agreement.”

The amendment continues, “Within 30 days after the close of each of the first two monthly accounting periods in each fiscal quarter of the Parent (a) the consolidated balance sheet of the Parent and its Subsidiaries as at the end of such monthly accounting period and the related consolidated statements of income and retained earnings and statement of cash flows for such monthly accounting period and for the elapsed portion of the fiscal year ended with the last day of such monthly accounting period, in each case setting forth comparative figures for the corresponding monthly accounting period in the prior fiscal year and comparable forecasted figures for such monthly accounting period based on the corresponding forecasts delivered pursuant to Section 8.01(j).”

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