FTE Networks credit agreement forbearance deal extended through July 1

By Caroline Salls

Pittsburgh, July 1 – FTE Networks, Inc. obtained a 10th consent and waiver to a credit agreement forbearance entered on March 30, according to an 8-K filed Monday with the Securities and Exchange Commission.

The parties to the credit agreement include FTE subsidiaries Jus-Com, Inc. and Benchmark Builders, Inc., specified credit parties, Lateral Juscom Feeder LLC and several lenders.

Under the 10th consent and waiver the lenders agreed to extend the forbearance period through July 1.

In connection with the consent and waiver extension, Brian McMahon and Fred Sacramone each entered into a seventh amendment to their respective series A convertible promissory notes to extend the maturity dates of those notes to July 1.

FTE Networks is Naples, Fla.-based provider of services to the telecommunications and wireless sector.

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