* TLCVision gets limited waiver on credit facility
* Gets waiver till May 31
* Says amount outstanding $82.7 mln, as of Dec. 31
The company said the agreement provides a limited waiver for defaults and sets certain benchmarks and milestones.
As of Dec. 31, 2008, the amount outstanding on the credit facility was $82.7 million, the company said.
Last month the company’s auditor raised doubts about its ability to continue as a going concern as it was not in compliance with its key financial covenants as of Dec 31. [ID:nBNG471527]
Shares of the company closed at 11 cents Friday on Nasdaq.
For the alerts double-click [ID:nWNAB0737] (Reporting by Anand Basu in Bangalore; Editing by Ratul Ray Chaudhuri)
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