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Tuscany International Drilling Inc T.TID



TSX:TID - Post by User

Post by veronikagermanyon Nov 28, 2013 9:13am
250 Views
Post# 21949304

This Agreement is UNTIL Jan 2014

This Agreement is UNTIL Jan 2014So they are working on the RF and this agreement is temporary to cover the December payment. This is why, an amendment (extension)  was necessary  until the RF is established.

"The Amending Agreement will allow the Company to make withdrawals from its debt service reserve account in accordance with the terms of the Credit Agreement, as amended by the Amending Agreement, up until January 2, 2014, or such other date as may be agreed to by the Agent and a required majority of lenders under the Credit Agreement".



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