NexCen Brands (NEXC) Enters Agreement With Lender
NexCen Brands, Inc. (NASDAQ: NEXC), announced an update on recent company activities.
NexCen Brands has entered into a letter agreement with its lender, BTMU Capital Corporation (BTMUCC), which provides the Company with near-term access to certain additional cash from its lockbox accounts and limited forbearance from certain alleged defaults under its bank borrowing facility. During the forbearance period, the Company intends to continue its discussions with BTMUCC, focused on developing a long-term solution for the Company's liquidity issues.
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NexCen Brands has entered into a letter agreement with its lender, BTMU Capital Corporation (BTMUCC), which provides the Company with near-term access to certain additional cash from its lockbox accounts and limited forbearance from certain alleged defaults under its bank borrowing facility. During the forbearance period, the Company intends to continue its discussions with BTMUCC, focused on developing a long-term solution for the Company's liquidity issues.
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