Unbridled Energy Signs Forbearance Agreement & Seeks Purchaser for Leases in Lycoming County, PAForbearance Agreement • November 2nd, 2009 • Unbridled Energy CORP • Oil & gas field exploration services
CALGARY and PITTSBURGH · October 28, 2009 · Unbridled Energy Corporation (TSX.V: UNE/OTCBB: UNEFF/Frankfurt: 04U) (“Unbridled Energy” or the “Company”) announces they have signed a Forbearance Agreement with Huntington National Bank (“Bank”). The Bank has agreed to extend the maturity date of the Company’s outstanding bank loan from November 16, 2009 to December 16, 2009, and to forbear from taking any further action to collect the bank loan until at least December 16, 2009. In exchange, the Company agreed to make an immediate principal payment of $175,000 (USD) to the Bank and have one of the Company’s U.S. subsidiaries, Unbridled Energy PA., LLC, execute an Agreement of Guaranty and Suretyship of the Loans, a related Open-End Mortgage, Indenture, Security Agreement, Financing Statement and an Assignment of Production Agreement in respect of the U.S. owned assets of Unbridled Energy PA., LLC. The primary asset of Unbridled Energy PA., LLC, in which the Bank will now have a mortgage li
