Attached files
file | filename |
---|---|
EX-10 - Track Group, Inc. | ex10-03202017_100322.htm |
(Exact name of registrant as specified in its charter.)
(State or other jurisdiction of incorporation or organization)
(IRS Employer Identification No.)
(Address of principal executive offices)
(Registrant's Telephone number)
(Former Name or Former Address, if Changed Since Last Report)
On March 17, 2017, Track Group, Inc. (the "Company") and Sapinda Asia Limited ("Lender") entered into Amendment Number One to Loan Agreement, dated September 14, 2015 (the "Loan Agreement"). Amendment Number One extends the maturity date of all loans made pursuant to the Loan Agreement, to September 30, 2020. In addition, Amendment Number One eliminates the requirement that the Company pay Lender 3% for any undrawn funds under the Loan Agreement (the "3% Interest"), and that the 3% Intererst due Lender for all undrawn funds under the Loan Agreement through March 13, 2017 ("Execution Date") are forgiven. In addition, all Lender penalties assessed against Lender for failure to provide funds under the Loan Agreement through the Execution Date ("Lender Penalties") are forgiven. Lender Penalties shall begin to accrue again provided Lender has not funded the amount of $1.5 million on or before March 31, 2017.
See Exhibit Index.
The foregoing description of Amendment Number One does not purport to be complete, and is qualified in its entirety by reference to the full text of Amendment Number One attached hereto as Exhibit 10.1, which is incorporated by reference herein.
Track Group, Inc. |
By: | /s/ Gordon Jesperson |
Name: Gordon Jesperson | |
Title: General Counsel |
Exhibit No.
|
Description
|
|
EX-10.1
|
Amendment No. 1 to Loan Agreement
|