UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01. | Entry into a Material Definitive Agreement. |
Effective on November 15, 2023, Ebix, Inc. (the “Company” or “Ebix”) entered into an Amended and Restated Forbearance Agreement (the “Agreement”), of the original Forbearance Agreement entered into on September 29, 2023 (the “Existing Agreement”), with certain subsidiaries of the Company as guarantors (the “Guarantors”) and lender parties thereto (the “Lenders”), Regions Bank, as administration agent and collateral agent (collectively, the “Agent”), relating to the credit agreement dated as of August 5, 2014 (as amended, restated, supplemented or otherwise modified and in effect from time to time, the “Credit Agreement”).
Pursuant to the Agreement, the Agent and the Lenders have agreed that, during the period from the Existing Forbearance Effective Date (as defined in the Agreement) to the earlier of (x) 11:59 p.m. New York City time, on December 17, 2023, and (y) the date on which any termination event, as set forth in the Agreement, has occurred, the Lenders will forbear from exercising any of their respective rights and remedies with respect to certain specified defaults and event of defaults as set forth in the Agreement.
The Agreement mandates that by November 30, 2023, the Company shall have delivered certain agreements and reports to the Agent and Lenders.
The foregoing description of the Agreement is a summary only and is qualified in its entirety by reference to the complete text of the Agreement, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit Number |
Description | |
| 10.1 | Amended and Restated Forbearance Agreement, dated as of November 15, 2023, by and among the Company, the Guarantors, the Lenders and the Agent | |
| 104 | Cover Page Interactive Data File (cover page XBRL tags are embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 15, 2023
| EBIX, INC. | ||
| By: | /s/ Amit Kumar Garg | |
| Name: | Amit Kumar Garg | |
| Title: | Chief Financial Officer | |