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PC gamer, WorthPlaying EIC, globe-trotting couch potato, patriot, '80s headbanger, movie watcher, music lover, foodie and man in black -- squirrel!

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Midway Bankruptcy Postponed ... Until Next Month

by Rainier on Jan. 6, 2009 @ 9:12 a.m. PST

Midway Games has reached a waiver and forbearance agreement with the holders of its $75 million principal amount of 7.125% Convertible Senior Notes due 2026, extending their right to require Midway to repurchase the notes until Feb. 19, 2009. Midway is currently also in discussions with the holders of its 6% Convertible Senior Notes due 2025 to obtain a similar waiver and forbearance agreement.
Midway Games has reached a waiver and forbearance agreement with the holders of its $75 million principal amount of 7.125% Convertible Senior Notes due 2026, extending their right to require Midway to repurchase the notes until Feb. 19, 2009. Midway is currently also in discussions with the holders of its 6% Convertible Senior Notes due 2025 to obtain a similar waiver and forbearance agreement.
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