Ebix’s lenders agree to extend forbearance period to Dec. 17

By Marisa Wong

Los Angeles, Nov. 16 – Ebix, Inc. entered into an amended and restated forbearance agreement, effective Nov. 15, amending the original forbearance agreement entered into on Sept. 29 with some of the company’s subsidiaries as guarantors and the lenders under the credit agreement dated Aug. 5, 2014 with Regions Bank as administrative agent and collateral agent, according to an 8-K filing with the Securities and Exchange Commission.

The forbearance period will now run until to the earlier of 11:59 p.m. ET on Dec. 17 and the date on which any termination event has occurred.

During this forbearance period, the lenders will forbear from exercising any of their respective rights and remedies with respect to certain specified defaults and event of defaults.

In addition, the agreement mandates that by Nov. 30 the company has to deliver certain agreements and reports to the agent and lenders.

Ebix is a Johns Creek, Ga.-based international supplier of on-demand software and e-commerce services to the insurance, financial, health care and e-learning industries.

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