TRC amends forbearance agreement, waiving missed financial filing deadline

By Sara Rosenberg

New York, May 19 - TRC Cos. Inc. amended the forbearance agreement with its bank group, waiving the failure to file its 2005 10-K by the April 30 deadline, according to a company news release.

The amendment also removes from the forbearance agreement the schedule for filing the fiscal year 2005 10-K and 10-Qs.

In return, the company made an immediate $75,000 payment to the lenders and will make additional payments of $37,500 every two weeks until its 10-K is filed and a business plan for fiscal 2007 is delivered.

TRC is a Windsor, Conn.-based company engaged in the creation and implementation of services for the environmental, energy, infrastructure and security markets.

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