disclosed in a March29 securities filing that it has amended its restructuring support agreement towaive a termination event that would have occurred April 10 due to not obtainingcourt approval of assuming the agreement.
The amendmentmoves the deadline for obtaining court approval of the agreement to May 13, or alater date agreed to by the majority consenting lenders. The amendment also providesa waiver of any termination event arising out of Arch's failure to deliver the updatedbusiness plan required under the agreement and extends that deadline to April 8.
The amendmentsets an April 26 deadline to file the business plan and disclosure agreement. Thechange also moves the deadline, from April 10 to April 22, that Arch and lendersmay modify proposed distributions to holders of unsecured claims if the holdersof more than $1.61 billion of unsecured claims have not executed a restructuringsupport agreement.
Archwill also be required to make "publicly available certain disclosure materials"no later than April 15.