XTI Aerospace's drone units missed payments on seller notes, triggering defaults on those notes and the credit agreement. The sellers have not demanded repayment, but the lender can stop new loans, leaving XTI with less access to cash.
The lender no longer has to provide loans or letters of credit during these defaults. The sellers had not demanded immediate repayment as of the filing, but the credit agreement defaults add another source of funding trouble for XTI.
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