DefaultMay 12, 2026, 05:32 PM
Vivakor Enters Forbearance Agreements on Multiple Debt Defaults
AI Summary
Vivakor, Inc. has entered into new forbearance agreements with J.J. Astor & Co. and Cedarview Opportunities Master Fund LP to address multiple existing defaults on its secured promissory notes. With J.J. Astor, the company defaulted on its Second Note, leading to an adjusted outstanding balance of $6,815,805.71, and the Fourth Note has $1,111,151.74 outstanding, with its maturity extended to July 15, 2026. The Cedarview agreement addresses defaults on Existing Notes totaling $4,185,705.42 in principal and interest, adds a $700,000 penalty, and extends maturity to October 31, 2026. Both agreements outline new repayment terms tied to future financing transactions.
Key Highlights
- Vivakor defaulted on its Second Note with J.J. Astor, increasing the outstanding balance to $6,815,805.71.
- The Fourth Note with J.J. Astor has an outstanding balance of $1,111,151.74, with maturity extended to July 15, 2026.
- Vivakor will repay J.J. Astor $1,500,000 from the first RBW financing tranche and $2,500,000 from the second.
- Vivakor defaulted on Existing Notes with Cedarview, with $4,185,705.42 principal and interest due as of April 30, 2026.
- The Cedarview agreement includes a $700,000 stipulated loss penalty and 275,000 restricted common shares.
- Cedarview extended Existing Notes maturity to October 31, 2026, requiring 25% of future financing proceeds.
- Interest rates on both J.J. Astor and Cedarview notes are reduced to 9% per annum during the forbearance periods.