Bally plans to seek loan lender OK to extend cross default deadline

By Sara Rosenberg

New York, June 20 - Bally Total Fitness Holding Corp. plans on asking lenders under its senior secured credit facility for an extension of the cross default deadline to 28 days from 10 days after receipt of any financial reporting covenant default notice under its public bond indentures for its third quarter 10-Q report, according to a company news release.

The company anticipates filing its third quarter 2006 10-Q report by the Nov. 9 deadline, but is seeking the extension from loan lenders as a precaution.

As previously disclosed, the company has obtained waivers of financial reporting covenants obtained allowing it to file its second quarter 10-Q report by Sept. 11, or to extend such period until Oct. 11.

The company currently expects to file its second quarter 2006 10-Q report within the waiver period.

Bally is a Chicago-based commercial operator of fitness centers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.