FORBEARANCE AGREEMENTForbearance Agreement • May 15th, 2020 • Exela Technologies, Inc. • Services-business services, nec • New York
This FORBEARANCE AGREEMENT, dated as of May 11, 2020 (this “Agreement”), is entered into by and among EXELA RECEIVABLES 1, LLC, a Delaware limited liability company (“Borrower”), EXELA TECHNOLOGIES, INC., a Delaware corporation (“Exela”), as servicer (“Initial Servicer”), as parent (“Parent”) and as (“Performance Guarantor”), Exela Receivables Holdco, LLC, as pledgor (“Pledgor”), the originators from time to time party to the First Tier Purchase and Sale Agreement (the “Originators” and together with Exela, the Initial Servicer, the Borrower, the Pledgor, the Parent, and the Performance Guarantor, each an “Exela Party” and collectively the “Exela Parties”), PNC Bank, National Association, a national banking association (“PNC”), as a lender (in such capacity, a “Lender”) and as the lc bank (in such capacity, the “LC Bank”), TPG SPECIALTY LENDING, INC., a Delaware corporation (“TSL”), as a lender (in such capacity, a “Lender” and together with PNC and any other lenders party to the Loan
