Inmarsat and LightSquared reached an agreement that amends certain terms...
Inmarsat and LightSquared reached an agreement that amends certain terms of their cooperation agreement. LightSquared also paid Inmarsat $56.25 million, an outstanding amount that had prompted Inmarsat to issue a default notice in February (CD Feb 22 p11). Inmarsat agreed…
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to suspend the next phase of the agreement until March 31, 2014, Inmarsat said. Notices of default “in relation to previous non-payment events will no longer have any effect.” The amended terms allow LightSquared additional time to secure regulatory consents “that may ultimately lead to the deployment of its ancillary terrestrial component network in North America,” Inmarsat said.