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Actionable news in HGR: HANGER Inc,

Entry into a Material Definitive

On November13, 2015, Hanger,Inc. (the Company) entered into an agreement that modified its Credit Agreement (the Original Credit Agreement) dated as of June17, 2013 among the Company, the lenders from time to time party thereto and Bank of America, N.A., as agent (the Agent), as the same was previously amended by the First Amendment and Waiver, dated June19, 2015 among the Company, the lenders party thereto and the Agent (the First Amendment and Waiver), and the Second Amendment and Waiver, dated September11, 2015 among the Company, the lenders party thereto and the Agent (the Second Amendment and Waiver; the Original Credit Agreement as amended by the First Amendment and Waiver and the Second Amendment and Waiver, the Credit Agreement). As described below, this agreement, wh ich is called the Third Amendment and Waiver (the Agreement), waives defaults and events of default under the Credit Agreement and also modifies certain of the terms and covenants contained in the Credit Agreement, with some of the modifications terminating at such time as the Company meets various conditions described more fully below.

The Agreement was negotiated with the lenders and the Agent in connection with the Companys failure to deliver to the lenders certain financial information and other materials for the periods ended September30, 2014, December31, 2014, March31, 2015, and June30, 2015 (the Prior Financial Information) as required by the Second Amendment and Waiver. The Agreement waives (a)the events of default under the Credit Agreement arising from the Companys failure to deliver the Prior Financial Information to the Agent and (b)certain potential events of default arising from, among other things, the Companys anticipated failure to timely deliver certain financial information and other materials for the period ended September30, 2015 (the September30, 2015 Financial Information and, together with the Prior Financial Information, the Financial Information) to the Agent. The Agreement also provides that the failure by the Company to deliver the Financial Information to the Agent on or before December18, 2015 shall be an additional event of default under the Credit Agreement.

Until such...


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