Good Spirits Hospitality Limited has reached an agreement with Pacific Dawn Limited to extend the expiry date of its term loan agreement and amend certain conditions.
The agreement includes requiring Good Spirits Hospitality to permanently prepay the loans in an amount equal to all unrestricted cash and to achieve certain milestones for a possible range of transactions with the aim of selecting a preferred purchaser/equity investor/operator by 30 April 2023.
NZ RegCo has granted a waiver for Good Spirits Hospitality to enter into the amendments to the Facility Agreement.
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